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7 U.S. Code § 7272. Sugar program
(a) SugarcaneThe Secretary shall make loans available to processors of domestically grown sugarcane at a rate equal to—
(1)
18.00 cents per pound for raw cane sugar for the 2008 crop year;
(2)
18.25 cents per pound for raw cane sugar for the 2009 crop year;
(3)
18.50 cents per pound for raw cane sugar for the 2010 crop year;
(4)
18.75 cents per pound for raw cane sugar for each of the 2011 through 2018 crop years; and
(5)
19.75 cents per pound for raw cane sugar for each of the 2019 through 2023 crop years.
(b) Sugar beetsThe Secretary shall make loans available to processors of domestically grown sugar beets at a rate equal to—
(1)
22.9 cents per pound for refined beet sugar for the 2008 crop year; and
(2)
a rate that is equal to 128.5 percent of the loan rate per pound of raw cane sugar for the applicable crop year under subsection (a) for each of the 2009 through 2023 crop years.
(c) Term of loans
(1) In generalA loan under this section during any fiscal year shall be made available not earlier than the beginning of the fiscal year and shall mature at the earlier of—
(A)
the end of the 9-month period beginning on the first day of the first month after the month in which the loan is made; or
(B)
the end of the fiscal year in which the loan is made.
(2) Supplemental loansIn the case of a loan made under this section in the last 3 months of a fiscal year, the processor may repledge the sugar as collateral for a second loan in the subsequent fiscal year, except that the second loan shall—
(A)
be made at the loan rate in effect at the time the first loan was made; and
(B)
mature in 9 months less the quantity of time that the first loan was in effect.