S.Amdt. 985

1. Rewrites page 38, line 3 through page 41, line 14

   ReplacesPrinted page

   Removes page 38, line 3 through page 41, line 14 of the printed bill. See that page

   Inserted: SEC. 1107. AVAILABILITY OF ADVERSE MARKET PAYMENTS.

   Inserted: (a) Payment Required.--For each of the 2014 through 2018 crop years for rice and peanuts, the Secretary shall make adverse market payments to producers on farms for which payment yields and base acres are established with respect to the rice and peanuts if the Secretary determines that the actual price for the rice or peanuts is less than the reference price for the rice or peanuts.

   Inserted: (b) Actual Price.--

   Inserted: (1) Peanuts.--Except as provided in paragraph (2), for purposes of subsection (a), the actual price for peanuts is equal to the higher of the following:

   Inserted: (A) The national average market price received by producers during the 12-month marketing year for the peanuts as determined by the Secretary.

   Inserted: (B) The national average loan rate for a marketing assistance loan for the peanuts in effect for the applicable period under subtitle B.

   Inserted: (2) Rice.--In the case of long grain rice and medium grain rice, for purposes of subsection (a), the actual price for each type or class of rice is equal to the higher of the following:

   Inserted: (A) The national average market price received by producers during the 12-month marketing year for the type or class of rice, as determined by the Secretary.

   Inserted: (B) The national average loan rate for a marketing assistance loan for the type or class of rice in effect for the applicable period under subtitle B.

   Inserted: (c) Reference Price.--The reference price shall be--

   Inserted: (1) in the case of long and medium grain rice, $13.30 per hundredweight; and

   Inserted: (2) in the case of peanuts, $523.77 per ton.

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   Inserted: (d) Payment Rate.--The payment rate used to make adverse market payments with respect to rice and peanuts for a crop year shall be equal to the amount that--

   Inserted: (1) the reference price under subsection (c) for the rice or peanuts; exceeds

   Inserted: (2) the actual price determined under subsection (b) for the rice or peanuts.

   Inserted: (e) Payment Amount.--If adverse market payments are required to be paid under this section for any of the 2014 through 2018 crop years of rice or peanuts, the amount of the adverse market payment to be paid to the producers on a farm for that crop year shall be equal to the product of the following:

   Inserted: (1) The payment rate specified in subsection (d).

   Inserted: (2) The payment acres of the rice or peanuts on the farm.

   Inserted: (3) The payment yield for the rice or peanuts for the farm.

   Inserted: (f) Time for Payments.--If the Secretary determines under subsection (a) that adverse market payments are required to be made under this section for the crop of rice or peanuts, beginning October 1, or as soon as practicable thereafter, after the end of the applicable marketing year for the rice or peanuts, the Secretary shall make the adverse market payments for the crop.

   Original wording

   Beginning on page 38, strike line 3 and all that follows through page 41, line 14, and insert the following:

Read automatically from the Congressional Record. Check the original before relying on it.

As printed