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7 U.S. Code § 7959

Termination of marketing quota programs for peanuts and compensation to peanut quota holders for loss of quota asset value

7 U.S. Code § 7959. Termination of marketing quota programs for peanuts and compensation to peanut quota holders for loss of quota asset value

(a) Repeal of marketing quota
(1) Omitted
(2) Treatment of 2001 crop
Part VI of subtitle B of title III of the Agricultural Adjustment Act of 1938 (7 U.S.C. 1357–1359a), as in effect on the day before May 13, 2002, shall continue to apply with respect to the 2001 crop of peanuts notwithstanding the amendment made by paragraph (1). Section 7958(g)(2) of this title shall also apply to the 2001 crop of peanuts.
(b) Compensation contract required
(1) In general
The Secretary shall offer to enter into a contract with each person that the Secretary determines is an eligible peanut quota holder under subsection (f) for the purpose of providing compensation for the lost value of the quota on account of the repeal of the marketing quota program for peanuts under subsection (a).
(2) Payment period
The Secretary shall make payments under the contracts during fiscal years 2002 through 2006.
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