Page:United States Statutes at Large Volume 116 Part 1.djvu/242

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116 STAT. 216 PUBLIC LAW 107-171—MAY 13, 2002 if the average adjusted gross income of the individual or entity exceeds $2,500,000, unless not less than 75 percent of the average adjusted gross income of the individual or entity is derived from farming, ranching, or forestry operations, as determined by the Secretary, "(2) COVERED BENEFITS. — Paragraph (1) applies with respect to the following: "(A) A direct pa5anent or counter-cyclical payment under subtitle A or C of title I of the Farm Security and Rural Investment Act of 2002. "(B) A marketing loan gain or payment described in section 1001(d) of this Act. "(C) A payment under any program under title XII of this Act or title II of the Farm Security and Rural Investment Act of 2002. "(c) CERTIFICATION.— To comply with the limitation under subsection (b), an individual or entity shall provide to the Secretary— "(1) a certification by a certified public accountant or another third party that is acceptable to the Secretary that the average adjusted gross income of the individual or entity does not exceed the limitation specified in that subsection; or "(2) information and documentation regarding the adjusted gross income of the individual or entity through other procedures established by the Secretary. "(d) COMMENSURATE REDUCTION.—In the case of a benefit described in subsection (b)(2) made in a crop year to an entity, general partnership, or joint venture, the amount of the benefit shall be reduced by an amount that is commensurate with the direct and indirect ownership interest in the entity, general partnership, or joint venture of each individual who has an average adjusted gross income in excess of the limitation specified in subsection (b) for the average of the 3 preceding crop years. "(e) EFFECTIVE PERIOD.—This section shall apply only during the 2003 through 2007 crop years.". 7 USC 7993. SEC. 1605. COMMISSION ON APPLICATION OF PAYMENT LIMITATIONS. (a) ESTABLISHMENT.— There is established a commission to be known as the "Commission on the Application of Payment Limitations for Agriculture" (referred to in this section as the "Commission"). (b) DUTIES. —The Commission shall conduct a study on the potential impacts of further payment limitations on the receipt of direct payments, counter-cyclical pa5nnents, and marketing loan gains and loan deficiency pa3niients on— (1) farm income; (2) land values; (3) rural communities; (4) agribusiness infrastructure; (5) planting decisions of producers affected; and (6) supply and prices of covered commodities, loan commodities, specialty crops (including fruits and vegetables), and other agricultural commodities. (c) MEMBERSHIP.— (1) COMPOSITION. —The Commission shall be composed of 10 members as follows: (A) 3 members appointed by the Secretary.