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7 U.S. Code § 7914. Availability of counter-cyclical payments
(a) Payment required
For each of the 2002 through 2007 crop years for each covered commodity, the Secretary shall make counter-cyclical payments to producers on farms for which payment yields and base acres are established with respect to the covered commodity if the Secretary determines that the effective price for the covered commodity is less than the target price for the covered commodity.
(b) Effective priceFor purposes of subsection (a), the effective price for a covered commodity is equal to the sum of the following:
(1) The higher of the following:
(A)
The national average market price received by producers during the 12-month marketing year for the covered commodity, as determined by the Secretary.
(B)
The national average loan rate for a marketing assistance loan for the covered commodity in effect for the applicable period under subchapter II.
(2)
The payment rate in effect for the covered commodity under section 7913 of this title for the purpose of making direct payments with respect to the covered commodity.