PUBLIC LAW 101-624—NOV. 28, 1990 104 STAT. 3445 graph from adversely affecting the income of producers of the commodities or products. "(viii) TRANSFERS.— Under regulations prescribed by the Secretary, certificates issued under this subparagraph may be transferred to other persons approved by the Secretary. " (D) CERTIFICATES TO MAINTAIN COMPETITIVENESS.— "(i) IN GENERAL. — Notwithstanding any other provi- Exports. sion of law, whenever, during the period beginning Cooperative August 1, 1991, and ending July 31, 1996, the prevailing agreements. world market price for a class of rice (adjusted to United States quality and location), as determined by the Secretary, is below the current loan repa5ment rate for that class of rice, to make United States rice competitive in world markets and to maintain and expand exports of rice produced in the United States, the Commodity Credit Corporation shall make pay- ments, through the issuance of marketing certificates, to persons who have entered into an agreement with the Commodity Credit Corporation to participate in the program established under this subparagraph. The pay- ments shall be made in such monetary amounts and subject to such terms and conditions as the Secretary determines will msike rice produced in the United States available at competitive prices consistent with the purposes of this subparagraph. "(ii) VALUE.— The value of each certificate issued under this subparagraph shall be based on the dif- ference between— "(I) the loan repayment rate for the class of rice; and "(II) the prevailing world market price for the class of rice, as determined by the Secretary, " (iii) TERMS AND CONDITIONS OF CERTIFICATES.— Marketing certificates issued under this subparagraph shall be subject to the same terms and conditions as certificates issued under subparagraph (C). "(6) SIMPLE AVERAGE PRICE.—For purposes of this section, the simple average price received by producers for the immediately preceding marketing year shall be based on the latest information available to the Secretary at the time of the determination.
- (b) LOAN DEFICIENCY PAYMENTS. —
"(1) IN GENERAL.—The Secretary shall, for each of the 1991 through 1995 crops of rice, make payments (hereafter in this section referred to as 'loan deficiency payments') available to producers who, although eligible to obtain a loan or purchase agreement under subsection (a), agree to forgo obtaining the loan or agreement in return for payments under this subsection. "(2) COMPUTATION. —A payment under this subsection shall be computed by multiplying— "(A) the loan payment rate; by "(B) the quantity of rice the producer is eligible to place under loan (or obtain a purchgise agreement) but for which the producer forgoes obtaining the loan or agreement in return for payments under this subsection. "(3) LOAN PAYMENT RATE.—For purposes of this subsection, the loan payment rate shall be the amount by which—
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