Page:United States Statutes at Large Volume 104 Part 5.djvu/60

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104 STAT. 3382 PUBLIC LAW 101-624—NOV. 28, 1990 "(1) IN GENERAL.—The total simount of payments that a person shall be entitled to receive under this Act for wool or mohair for any marketing year shall not exceed— "(A) $200,000 for the 1991 marketing year; "(B) $175,000 for the 1992 marketing year; "(C) $150,000 for the 1998 marketing year; and "(D) $125,000 for each of the 1994 and subsequent marketing years. Regulations. "(2) ENFORCEMENT. —The Secretary sheill issue regulations defining the term 'person' for purposes of this section. The regulations shall be consistent with regulations issued by the Secretary in accordance with sections 1001, lOOlA, and lOOlB of the Food Security Act of 1985 (7 U.S.C. 1808, 1808-1, and 1308-2). ". TITLE III—WHEAT SEC. 301. LOANS, PAYMENTS, AND ACREAGE REDUCTION PROGRAMS FOR THE 1991 THROUGH 1995 CROPS OF WHEAT. The Agricultural Act of 1949 is amended— (1) by repealing sections 107A and 107B (7 U.S.C. 1445b and 1445b-l); (2) by redesignating section 107D (7 U.S.C. 1445b-3) as section 107A; and (3) by inserting after section 107A (as so redesignated) the following new section: 7 USC 1445b-3a. "SEC. 107B. LOANS, PAYMENTS, AND ACREAGE REDUCTION PROGRAMS FOR THE 1991 THROUGH 1995 CROPS OF WHEAT. "(a) LOANS AND PURCHASES.— "(1) IN GENERAL.— Except as otherwise provided in this subsection, the Secretary shall make available to producers on a farm loans and purchases for each of the 1991 through 1995 crops of wheat produced on the farm at such level as the Secretary determines will maintain the competitive relationship of wheat to other grains in domestic and export markets after taking into consideration the cost of producing wheat, supply and demand conditions, and world prices for wheat. (2) MINIMUM LOAN AND PURCHASE LEVEL.—Except as provided in paragraphs (8) and (4), the loan and purchase level determined under paragraph (1) shall not be less than 85 percent of the simple average price received by producers of wheat, as determined by the Secretary, during the marketing years for the immediately preceding 5 crops of wheat, excluding the year in which the average price was the highest and the year in which the average price was the lowest in such period, except that the loan and purchase level for a crop determined under this paragraph may not be reduced by more than 5 percent from the level determined for the preceding crop. "(8) ADJUSTMENTS TO SUPPORT LEVEL. — "(A) STOCKS TO USE RATIO.— If the Secretary estimates for any marketing year that the ratio of ending stocks of wheat to total use for the marketing year will be— "(i) equal to or greater than 30 percent, the Secretary may reduce the loan and purchase level for wheat for