Assistance in purchase and sale of marketing certificates; regulations; administrative expenses; interest

7 U.S.C. § 1379e

• Title: 7 — Agriculture
• Chapter: SUBCHAPTER II—LOANS, PARITY PAYMENTS, CONSUMER SAFEGUARDS, MARKETING QUOTAS, AND MARKETING CERTIFICATES
• Part: D

Text

For the purpose of facilitating the purchase and sale of marketing certificates, the Commodity Credit Corporation is authorized to issue, buy, and sell marketing certificates in accordance with regulations prescribed by the Secretary. Such regulations may authorize the Corporation to issue and sell certificates in excess of the quantity of certificates which it purchases. Such regulations may authorize the Corporation in the sale of marketing certificates to charge, in addition to the face value thereof, an amount determined by the Secretary to be appropriate to cover estimated administrative costs in connection with the purchase and sale of the certificates and estimated interest incurred on funds of the Corporation invested in certificates purchased by it.

History

(Feb. 16, 1938, ch. 30, title III, §379e, as added Pub. L. 87–703, title III, §324(2), Sept. 27, 1962, 76 Stat. 628; amended Pub. L. 89–321, title V, §516, Nov. 3, 1965, 79 Stat. 1206; Pub. L. 90–559, §1(6), Oct. 11, 1968, 82 Stat. 996; Pub. L. 91–524, title IV, §403(a)(3), Nov. 30, 1970, 84 Stat. 1366.)

Editorial Notes

Editorial Notes

Codification
The sentence added by Pub. L. 89–321, as amended by Pub. L. 90–559, which directed the Commodity Credit Corporation to sell marketing certificates for the marketing years for the 1966 through 1970 wheat crops to persons processing food products at the face value thereof less any amount by which price support for wheat accompanied by domestic certificates exceeded $2 per bushel, was omitted as executed.

Amendments
1970—Pub. L. 91–524, temporarily directed the Commodity Credit Corporation to sell marketing certificates for the marketing years for the 1971, 1972, and 1973 crops of wheat to persons engaged in the processing of food products but directed that, in determining the cost to processors of food products, the face value be 75 cents per bushel. See Effective and Termination Dates of 1970 Amendment note below.
1968—Pub. L. 90–559 provided for a one year extension of period for sale of marketing certificates, substituting "1966 through the 1970" for "1966 through the 1969" wheat crops.
1965—Pub. L. 89–321 required the Commodity Credit Corporation to sell marketing certificates for the marketing years for the 1966 through the 1969 wheat crops to persons engaged in the processing of food products at the face value thereof less any amount by which price support for wheat accompanied by domestic certificates exceeds $2 per bushel.

Statutory Notes and Related Subsidiaries

Effective and Termination Dates of 1970 Amendment
Section 403(a) of Pub. L. 91–524 provided that the amendment made by that section is effective only with respect to marketing years beginning July 1, 1971, July 1, 1972, and July 1, 1973.

Inapplicability of Section
Section inapplicable to 2014 through 2018 crops of covered commodities, cotton, and sugar and inapplicable to milk during period beginning Feb. 7, 2014, through Dec. 31, 2018, see section 9092(a)(3) of this title.
Section inapplicable to 2008 through 2012 crops of covered commodities, peanuts, and sugar and inapplicable to milk during period beginning June 18, 2008, through Dec. 31, 2012, see section 8782(a)(3) of this title.
Section inapplicable to 2002 through 2007 crops of covered commodities, peanuts, and sugar and inapplicable to milk during period beginning May 13, 2002, through Dec. 31, 2007, see section 7992(a)(3) of this title.
Section inapplicable to 1996 through 2001 crops of loan commodities, peanuts, and sugar and inapplicable to milk during period beginning Apr. 4, 1996, and ending Dec. 31, 2002, see section 7301(a)(1)(H) of this title.
Section inapplicable to wheat processors or exporters during period June 1, 1991, through May 31, 1996, see section 302 of Pub. L. 101–624, set out as a note under section 1379d of this title.
Section inapplicable to wheat processors or exporters during period June 1, 1986, through May 31, 1991, see section 309 of Pub. L. 99–198, set out as a note under section 1379d of this title.
Section inapplicable to wheat processors or exporters during period June 1, 1982, through May 31, 1986, see section 302 of Pub. L. 97–98, set out as a note under section 1379d of this title.
Section inapplicable to wheat processors or exporters during period July 1, 1973, through May 31, 1982, see section 403 of Pub. L. 95–113, set out as a note under section 1379d of this title.
Section inapplicable to wheat processed or exported during period July 1, 1973, through June 30, 1978, see section 403(b) of Pub. L. 91–524, as added by section 1(10) of Pub. L. 93–86, set out as a note under section 1379d of this title.