12 2 STA T .94 4 PUBLIC LA W 11 0– 2 3 4 —M A Y 22 , 200 8(J)Otheroils ee d s ,$12.68p erh un dred w ei g ht. ( K ) D r y pe a s, $8. 3 2 per hundredweight. ( L ) Lentils, $12.81 per hundredweight. ( M ) Sm all c hic k peas, $1 0 .36 per hundredweight. ( N ) Large chickpeas, $12.81 per hundredweight. (d) PAYMENTR ATE. —T he payment rate used to make counter - cyclical payments with respect to a co v ered commodity f or a crop year shall b ee q ual to the difference between— (1) the target price for the covered commodity
and (2) the effective price determined under subsection (b) for the covered commodity. (e) PAYMENT A M OU NT.— I f counter-cyclical payments are required to be paid under this section for any of the 2008 through 2012 crop years of a covered commodity, the amount of the counter- cyclical payment to be paid to the producers on a farm for that crop year shall be equal to the product of the following
(1) The payment rate specified in subsection (d). (2) The payment acres of the covered commodity on the farm. (3) The payment yield for the covered commodity for the farm. (f) T I ME F O R PAYMENT S .— (1) G ENERA L RULE.— Ex cept as provided in paragraph (2), if the Secretary determines under subsection (a) that counter- cyclical payments are required to be made under this section for the crop of a covered commodity, beginning October 1, or as soon as practicable thereafter, after the end of the mar- keting year for the covered commodity, the Secretary shall make the counter-cyclical payments for the crop. (2) A V AILA B ILITY OF P ARTIAL PAYMENTS.— (A) IN G ENERAL.—If, before the end of the 12-month marketing year for a covered commodity, the Secretary estimates that counter-cyclical payments will be required for the crop of the covered commodity, the Secretary shall give producers on a farm the option to receive partial payments of the counter-cyclical payment pro j ected to be made for that crop of the covered commodity. ( B ) ELE C TION.— (i) IN GENERAL.—The Secretary shall allow pro- ducers on a farm to make an election to receive partial payments for a covered commodity under subparagraph (A) at any time but not later than 60 days prior to the end of the marketing year for that covered com- modity. (ii) DATE OF ISSUANCE.—The Secretary shall issue the partial payment after the date of an announcement by the Secretary but not later than 30 days prior to the end of the marketing year. (3) TIME FOR PARTIAL PAYMENTS.— W hen the Secretary makes partial payments for a covered commodity for any of the 2008 through 2010 crop years— (A) the first partial payment shall be made after completion of the first 180 days of the marketing year for the covered commodity; and (B) the final partial payment shall be made beginning October 1, or as soon as practicable thereafter, after the Deadlin e s.
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