[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[S. 1072 Introduced in Senate (IS)]







107th CONGRESS
  1st Session
                                S. 1072

To extend eligibility for loan deficiency payments and payments in lieu 
                      of loan deficiency payments.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             June 20, 2001

  Mr. Roberts introduced the following bill; which was read twice and 
   referred to the Committee on Agriculture, Nutrition, and Forestry

_______________________________________________________________________

                                 A BILL


 
To extend eligibility for loan deficiency payments and payments in lieu 
                      of loan deficiency payments.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. LOAN DEFICIENCY PAYMENTS.

    Section 135 of the Agricultural Market Transition Act (7 U.S.C. 
7235) is amended by striking subsection (e) and inserting the 
following:
    ``(e) Lost Beneficial Interest.--If a producer eligible for a 
payment under subsection (a) looses beneficial interest in a commodity, 
the producer shall be eligible for the payment determined as of the 
date the producer lost beneficial interest in the commodity, as 
determined by the Secretary.''.

SEC. 2. PAYMENTS IN LIEU OF LOAN DEFICIENCY PAYMENTS.

    Section 205 of the Agricultural Risk Protection Act of 2000 (7 
U.S.C. 1421 note; Public Law 106-224) is amended--
            (1) in subsection (a), by striking ``the 2001 crop year'' 
        and inserting ``each of the 2001 and 2002 crop years'';
            (2) by inserting ``grain sorghum,'' after ``wheat,'' each 
        place it appears; and
            (3) in subsection (c)(1), by striking ``not later than 
        September 30, 2001.'' and inserting ``not later than--
                    ``(A) in the case of the 2001 crop year, September 
                30, 2001; and
                    ``(B) in the case of the 2002 crop year, September 
                30, 2002.''.
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