(a) Prerequisites; scope of compensationNotwithstanding any other provision of law, if—
(1)
the President or other member of the executive branch of the Federal Government causes the export of any agricultural commodity to any country or area of the world to be suspended or restricted for reasons of national security or foreign policy under the Export Administration Act of 1979 (50 U.S.C. App. 2401 et seq.) [1] or under any other provision of law;
(2)
such suspension or restriction of the export of such agricultural commodity is imposed other than in connection with a suspension or restriction of all exports from the United States to such country or area of the world; and
(3)
sales of such agricultural commodity for export from the United States to such country or area of the world during the year preceding the year in which the suspension or restriction is imposed exceeds 3 percent of the total sales of such commodity for export from the United States to all foreign countries during the year preceding the year in which the suspension or restriction is in effect;
the Secretary shall compensate producers of the commodity involved by making payments available to such producers, as provided in subsection (b) of this section.
(b) Amount of paymentsIf the Secretary makes payments available to producers under subsection (a), the amount of such payment shall be determined—
(1) in the case of an agricultural commodity for which payments are authorized to be made to producers under Title I of the Agricultural Act of 1949 (7 U.S.C. 1441 et seq.), by multiplying—
(A)
the farm program payment yield for the producer or the yield established for the farm for the commodity involved; by
(C)
the amount by which the average market price per unit of such commodity received by producers during the 60-day period immediately following the date of the imposition of the suspension or restriction is less than 100 percent of the parity price for such commodity, as determined by the Secretary on the date of the imposition of the suspension or restriction; or
(2)
in the case of other agricultural commodities for which price support is authorized for producers under the Agricultural Act of 1949 (7 U.S.C. 1421 et seq.), by multiplying the amount by which the average market price per unit of such commodity received by the producers during the 60-day period immediately following the date of the imposition of the suspension or restriction is less than 100 percent of the parity price for such commodity, as determined by the Secretary on the date of the imposition of the suspension or restriction, by the quantity of such commodity sold by the producer during the period that the suspension or restriction is in effect.
(c) Time for payments
Payments under paragraph (1) of subsection (b) shall be made for each marketing year or part thereof during which the suspension or restriction is in effect and shall be made in equal amounts at 90-day intervals, beginning 90 days after the date of the imposition of the suspension or restriction.
(d) Commodity Credit Corporation
The Secretary shall use the Commodity Credit Corporation in carrying out the provisions of this section.
(e) Regulations
The Secretary may issue such regulations as are determined necessary to carry out this section.
(Pub. L. 95–501, title IV, § 411, as added Pub. L. 101–624, title XV, § 1531, Nov. 28, 1990, 104 Stat. 3682.)