(a) Use of Commodity Credit Corporation
The Secretary shall use the funds, facilities, and authorities of the Commodity Credit Corporation to carry out this chapter.
(b) Determinations by Secretary
Terms Used In 7 USC 7991
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
A determination made by the Secretary under this chapter shall be final and conclusive.
(1) In general
Not later than 90 days after May 13, 2002, the Secretary and the Commodity Credit Corporation, as appropriate, shall promulgate such regulations as are necessary to implement this chapter.
The promulgation of the regulations and administration of this chapter shall be made without regard to–
(B) the Statement of Policy of the Secretary of Agriculture effective July 24, 1971 (36 Fed. Reg. 13804), relating to notices of proposed rulemaking and public participation in rulemaking; and
(C) the notice and comment provisions of section 553 of title 5.
(3) Congressional review of agency rulemaking
In carrying out this subsection, the Secretary shall use the authority provided under section 808 of title 5.
(d) Treatment of advance payment option
The protection that was afforded producers that had an option to elect to accelerate the receipt of any payment under a production flexibility contract payable under the Federal Agriculture Improvement and Reform Act of 1996, as provided by section 525 of Public 2 106-170 (113 Stat. 1928; 7 U.S.C. 7212 note), shall also apply to the option to receive–
(1) the advance payment of direct payments and counter-cyclical payments under subchapter I and subchapter III;
(2) the single payment of compensation for eligible peanut quota holders under section 7960 of this title; and
(3) the advance payment of direct payments and counter-cyclical payments under title I of the Food, Conservation, and Energy Act of 2008 [7 U.S.C. 8701 et seq.].
(e) Adjustment authority related to Uruguay Round compliance
(1) Required determination; adjustment
If the Secretary determines that expenditures under subchapters I through V that are subject to the total allowable domestic support levels under the Uruguay Round Agreements (as defined in section 3501 of title 19), as in effect on May 13, 2002, will exceed such allowable levels for any applicable reporting period, the Secretary shall, to the maximum extent practicable, make adjustments in the amount of such expenditures during that period to ensure that such expenditures do not exceed such allowable levels.
(2) Congressional notification
Before making any adjustment under paragraph (1), the Secretary shall submit to the Committee on Agriculture, Nutrition, and Forestry of the Senate and the Committee on Agriculture of the House of Representatives a report describing the determination made under that paragraph and the extent of the adjustment to be made.