[Federal Register Volume 65, Number 51 (Wednesday, March 15, 2000)]
[Rules and Regulations]
[Pages 13865-13866]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-6424]



 ========================================================================
 Rules and Regulations
                                                 Federal Register
 ________________________________________________________________________
 
 This section of the FEDERAL REGISTER contains regulatory documents 
 having general applicability and legal effect, most of which are keyed 
 to and codified in the Code of Federal Regulations, which is published 
 under 50 titles pursuant to 44 U.S.C. 1510.
 
 The Code of Federal Regulations is sold by the Superintendent of Documents. 
 Prices of new books are listed in the first FEDERAL REGISTER issue of each 
 week.
 
 ========================================================================
 

  Federal Register / Vol. 65, No. 51 / Wednesday, March 15, 2000 / 
Rules and Regulations  

[[Page 13865]]



DEPARTMENT OF AGRICULTURE

Commodity Credit Corporation

7 CFR Parts 1421 and 1427

RIN 0560-AG13


1999 Crop and Market Loss Assistance; Correction

AGENCIES: Commodity Credit Corporation; USDA.

ACTION: Final Rule; Correction.

-----------------------------------------------------------------------

SUMMARY: The Commodity Credit Corporation published in the Federal 
Register of February 16, 2000, a final rule promulgating regulations 
for crop and market loss programs. Inadvertently, one portion of the 
rule was incorrectly set out concerning the eligibility of producers 
for loan deficiency payments and marketing loan gains for commodities 
already marketed. This document corrects that error.

EFFECTIVE DATE: February 11, 2000.

FOR FURTHER INFORMATION CONTACT: Tom Witzig, Chief, Regulatory Review 
and Foreign Investment Disclosure Branch, FSA, USDA, STOP 0540, 1400 
Independence Avenue, SW, Washington, DC 20250-0540, Telephone: (202) 
205-5851.

SUPPLEMENTARY INFORMATION: The Commodity Credit Corporation published 
in the Federal Register of February 16, 2000, (65 FR 7942) a final rule 
promulgating regulations for crop and market loss programs. As 
correctly set out in the preamble for that rule, amendments were to be 
made by that rule to 7 CFR parts 1421 and 1427 to implement provisions 
of new legislation that changed the payment limitations for certain 
commodity activities and that allowed farmers who had already marketed 
a commodity, but had not received a marketing loan gain or loan 
deficiency payments for that commodity, to receive such payments. 
Normally, such payment is available only if the crop has not yet been 
marketed.
    That is, the preamble to the rule stated that, subject to certain 
conditions, the new regulations adopted in that rule would allow a 
producer who was otherwise eligible to receive a gain or payment to 
receive a marketing loan gain or loan deficiency payment even though 
the producer marketed the commodity. The preamble stated that this 
would only apply for commodities marketed on or before the date of 
publication of the and to otherwise eligible producers on commodities 
for which no such gain or payment had been paid.
    Those changes were to be incorporated into the regulations at 7 CFR 
1421.1 and 1427.1. However, the February 16, 2000 rule inadvertently 
left out the conditions referred to in the preamble and used language 
that suggested that these new payments would be available only if the 
request for such relief was made prior to the date of publication of 
the rule a condition that would have been impossible to meet.
    This correction provides regulatory language that reflects the 
intent of the February 16, 2000, rule, as expressed in the Preamble to 
that rule.

    In rule FR Doc. 00-3406, published on February 16, 2000, (65 FR 
7942) make the following corrections:
    1. On page 7954, in the second column, amendatory instruction 18 
and the amendment to Sec. 1421.1 are corrected to read as follows:
    18. Amend Sec. 1421.1 by adding paragraph (e) to read as follows:


Sec. 1421.1  Applicability.

* * * * *
    (e) Notwithstanding provisions of this subpart and subchapter:
    (1) For commodities produced during the 1999 crop year, the $75,000 
per person total limitation on all commodities together on the sum of 
marketing loan gains on loan made under this part and on loan 
deficiency payments with respect to loans under this part, shall not 
apply, but, rather, such limit shall be $150,000 per person.
    (2) For eligible crops produced in the 1999 crop year, a producer 
may receive with respect to a commodity, a marketing loan gain in 
connection with loans made under this part or loan deficiency payments 
in connection with the administration of loans under this part even 
though the crop has already been marketed, so long as:
    (i) Neither the producer nor anyone else has received a marketing 
loan gain or loan deficiency payment on the commodity;
    (ii) The person seeking the payment is the actual producer of the 
commodity and had beneficial interest in the commodity at the time of 
the operative marketing, for commodities to which paragraph (e)(2)(iii) 
of this section applies, or the time at which the commodity was 
redeemed in the case of commodities to which paragraph (e)(2)(iv) of 
this section applies;
    (iii) For those commodities that were previously placed under loan, 
the payment is made solely as marketing loan gain in which case the 
rate to be paid will be determined as of the date of the redemption;
    (iv) For commodities not covered by paragraph (e)(2)(iii) of this 
section, the producer will receive the payment as a loan deficiency 
payment in which case the amount to be paid will be determined as of 
the date that the producer marketed or lost beneficial interest in the 
commodity;
    (v) Unless otherwise allowed by the Deputy Administrator, the 
producer marketed the commodity prior to February 16, 2000.

    2. On page 7954, in the second column, amendatory instruction 20 
and the amendment to Sec. 1427.1 are corrected to read as follows:
    20. Amend Sec. 1427 by adding paragraph (d) to read as follows:


Sec. 1427.1  Applicability

* * * * *
    (d) Notwithstanding provisions of this subpart and subchapter:
    (1) For commodities produced during the 1999 crop year, the $75,000 
per person total limitation on all commodities together on the sum of 
marketing loan gains on loan made under this part and on loan 
deficiency payments with respect to loans under this part, shall not 
apply, but, rather, such limit shall be $150,000 per person.
    (2) For eligible cotton produced in the 1999 crop year, a producer 
may receive with respect to cotton, a marketing loan gain in connection 
with loans made under this part or loan deficiency payments in 
connection with the

[[Page 13866]]

administration of loans under this part even though the cotton has 
already been marketed, so long as:
    (i) Neither the producer nor anyone else has received a marketing 
loan gain or loan deficiency payment on the cotton;
    (ii) The person seeking the payment is the actual producer of the 
cotton and had beneficial interest in the cotton at the time of the 
operative marketing, for cotton to which paragraph (d)(2)(iii) of this 
section applies, or the time at which the cotton was redeemed in the 
case of cotton to which paragraph (d)(2)(iv) of this section applies;
    (iii) For cotton that was previously placed under loan, the payment 
is made solely as marketing loan gain in which case the rate to be paid 
will be determined as of the date of the redemption;
    (iv) For cotton not covered by paragraph (d)(2)(iii) of this 
section, the producer will receive the payment as a loan deficiency 
payment in which case the amount to be paid will be determined as of 
the date that the producer marketed or lost beneficial interest in the 
cotton;
    (v) Unless otherwise allowed by the Deputy Administrator, the 
producer marketed the cotton prior to February 16, 2000.

    Signed at Washington, DC, on March 10, 2000.
Keith Kelly,
Executive Vice President, Commodity Credit Corporation.
[FR Doc. 00-6424 Filed 3-13-00; 8:54 am]
BILLING CODE 3410-05-p