7 USC 8758 – Adjustments of loans
(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
Terms Used In 7 USC 8758
- county: includes a parish, or any other equivalent subdivision of a State or Territory of the United States. See 1 USC 2
- individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See 1 USC 8
- Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
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.