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Current as of January 01, 2024 | Updated by FindLaw Staff
(a)Adjustment authority
The Secretary may make appropriate adjustments in the loan rates for peanuts for differences in grade, type, quality, location, and other factors.
(b)Manner of adjustment
The adjustments under subsection (a) shall, to the maximum extent practicable, be made in such a manner that the average loan level for peanuts will, on the basis of the anticipated incidence of the factors, be equal to the level of support determined in accordance with this subchapter and subtitles B, D, and E.
(c)Adjustment on county basis
(1)In general
Subject to paragraph (2), the Secretary may establish loan rates for a crop of peanuts for producers in individual counties in a manner that results in the lowest loan rate being 95 percent of the national average loan rate, if those loan rates do not result in an increase in outlays.
(2)Prohibition
Adjustments under this subsection shall not result in an increase in the national average loan rate for any year.
Cite this article: FindLaw.com - 7 U.S.C. § 8758 - U.S. Code - Unannotated Title 7. Agriculture § 8758. Adjustments of loans - last updated January 01, 2024 | https://codes.findlaw.com/us/title-7-agriculture/7-usc-sect-8758/
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