[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[S. 1837 Introduced in Senate (IS)]







110th CONGRESS
  1st Session
                                S. 1837

    To amend the Farm Security and Rural Investment Act of 2002 to 
  authorize the Secretary of Agriculture to provide loans to eligible 
agricultural producers of eligible commodities that are used to produce 
   bioenergy to ensure that the capacities of the commodity storage 
 facilities of the agricultural producers are adequate for the storage 
  requirements of the agricultural producers, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 19, 2007

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

_______________________________________________________________________

                                 A BILL


 
    To amend the Farm Security and Rural Investment Act of 2002 to 
  authorize the Secretary of Agriculture to provide loans to eligible 
agricultural producers of eligible commodities that are used to produce 
   bioenergy to ensure that the capacities of the commodity storage 
 facilities of the agricultural producers are adequate for the storage 
  requirements of the agricultural producers, and for other purposes.

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

SECTION 1. FEEDSTOCK SECURITY FOR AGRICULTURAL PRODUCERS OF BIOENERGY.

    Title IX of the Farm Security and Rural Investment Act of 2002 (7 
U.S.C. 8101 et seq.) is amended by adding at the end the following:

``SEC. 9012. COMMODITY STORAGE CAPACITY LOANS.

    ``(a) Revision of Regulations.--Not later than 30 days after the 
date of enactment of this section, the Secretary shall revise part 1436 
of title 7, Code of Federal Regulations (as in effect on the date of 
enactment of this section), in accordance with subsection (b).
    ``(b) Commodity Storage Capacity Loans.--
            ``(1) Definition of eligible commodity.--In this 
        subsection, the term `eligible commodity' has the meaning given 
        the term in section 9010.
            ``(2) Authority of secretary.--In carrying out subsection 
        (a), the Secretary may provide loans to eligible agricultural 
        producers to ensure that the capacities of the commodity 
        storage facilities of the eligible agricultural producers are 
        adequate for the storage requirements of the eligible 
        agricultural producers.
            ``(3) Application.--To be eligible to receive a loan under 
        paragraph (2), an eligible agricultural producer shall submit 
        to the Secretary an application at such time, in such manner, 
        and containing such information as the Secretary may require.
            ``(4) Amount.--
                    ``(A) In general.--The amount of a loan that may be 
                provided by the Secretary to an eligible agricultural 
                producer under paragraph (2) shall be equal to the 
                amount necessary for the eligible agricultural producer 
                to construct, or make improvements to, 1 or more 
                commodity storage facilities to meet the storage 
                requirements of the eligible agricultural producer, as 
                determined by the Secretary in accordance with 
                subparagraph (B).
                    ``(B) Determination of storage requirements of 
                eligible agricultural producers.--
                            ``(i) In general.--Except as provided in 
                        clause (ii), the storage requirements of an 
                        eligible agricultural producer shall be equal 
                        to the difference between--
                                    ``(I) the average annual total 
                                quantity of eligible commodities 
                                produced by the eligible agricultural 
                                producer during the preceding 3 crop 
                                years; and
                                    ``(II) the maximum quantity of 
                                eligible commodities that may be stored 
                                in the commodity storage facilities of 
                                the eligible agricultural producer as 
                                of the date of application for the 
                                loan.
                            ``(ii) New agricultural producers of 
                        eligible commodities.--If an eligible 
                        agricultural producer has produced an eligible 
                        commodity for a period that is less than the 3-
                        crop year period described in clause (i)(I), 
                        the Secretary shall determine the storage 
                        requirements of the eligible agricultural 
                        producer.
            ``(5) Requirements of loan.--In providing a loan to an 
        eligible agricultural producer under paragraph (2), the 
        Secretary shall require--
                    ``(A) a lien only on each commodity storage 
                facility constructed or improved by the eligible 
                agricultural producer using funds provided under this 
                subsection; and
                    ``(B) the eligible agricultural producer to enter 
                into an egress agreement with the Secretary with 
                respect to each commodity storage facility constructed 
                or improved by the eligible agricultural producer using 
                funds provided under this subsection.
            ``(6) Term.--The term of a loan provided to an eligible 
        agricultural producer under paragraph (2) shall be a term of 
        not less than 20 years that is agreed to by the Secretary and 
        the borrower.''.
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