Treatment of multiyear program contract payments

  1. Law
  2. USC 7
  3. Agriculture
  4. AGRICULTURAL ADJUSTMENT ACT OF 1938
  5. LOANS, PARITY PAYMENTS, CONSUMER SAFEGUARDS, MARKETING QUOTAS, AND MARKETING CERTIFICATES
  6. Definitions, Loans, Parity Payments, and Consumer Safeguards
  7. Treatment of multiyear program contract payments

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§1308–5. Treatment of multiyear program contract payments

(a) In general

Notwithstanding any other provision of law, in the event of a transfer of ownership of land (or an ownership interest in land) by way of devise or descent, the Secretary of Agriculture may, if the new owner succeeds to the prior owner's contract entered into under title XII,1 make payments to the new owner under such contract without regard to the amount of payments received by the new owner under any contract entered into under title XII 1 executed prior to such devise or descent.

(b) Limitation

Payments made pursuant to this section shall not exceed the amount to which the previous owner was entitled to receive under the terms of the contract at the time of the death of the prior owner.

(Pub. L. 99–198, title X, §1001F, formerly §1001E, as added Pub. L. 101–624, title XI, §1111(h), Nov. 28, 1990, 104 Stat. 3499 ; renumbered §1001F, Pub. L. 107–171, title I, §1604(1), May 13, 2002, 116 Stat. 215 .)

References in Text

Title XII, referred to in subsec. (a), is title XII of the Food Security Act of 1985, Pub. L. 99–198, Dec. 23, 1985, 99 Stat. 1504 , which is classified principally to chapter 58 (§3801 et seq.) of Title 16, Conservation. For complete classification of title XII to the Code, see Tables.

Codification

Section was enacted as part of the Food Security Act of 1985, and not as part of the Agricultural Adjustment Act of 1938 which comprises this chapter.

Effective Date

Section effective beginning with 1991 crop of an agricultural commodity, with provision for prior crops, see section 1171 of Pub. L. 101–624, set out as an Effective Date of 1990 Amendment note under section 1421 of this title.

1 See References in Text note below.


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