12 2 STA T .9 9 0PUBLIC LA W 110 – 2 34—M A Y 22 , 200 8(4)inpar a g rap h ( 3 )(a s r ed esigna t ed by paragraph ( 2 )) , by inserting ‘ ‘ o ther ’ ’a f ter ‘‘on s uc h’’ .SEC.1405 .C OM MO DITY C R EDIT COR P OR A TIO N STORA G E PAYMENTS. S ubtit l e E of the F ederal A griculture Im pro v ement and R eform Act of 19 9 6 ( 7U .S. C . 72 8 1etse q .) is amended by adding at the end the follo w ing
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‘SEC. 1 67 . COMMODITY CREDIT CORPORATION STORAGE PAYMENTS. ‘‘(a) I NIT I AL C ROPYE AR S . —N otwithstanding any other provision of law, for each of the 2 0 08 through 2011 crop years, the Commodity Credit Corporation shall establish rates for the storage of forfeited sugar in an amount that is not less than— ‘‘(1) in the case of refined sugar, 1 5 cents per hundred - weight of refined sugar per month
and ‘‘(2) in the case of raw cane sugar, 10 cents per hundred- weight of raw cane sugar per month. ‘‘(b) S UB SE Q UENT CROP YEARS.—For each of the 2012 and subse- quent crop years, the Commodity Credit Corporation shall establish rates for the storage of forfeited sugar in the same manner as was used on the day before the date of enactment of this section.’’. Subti t leE—Da i ry SEC. 1501. DAIRY PROD U CT PRICE SUPPORT PROGRAM. (a) D E F INITION OF NET RE M O V ALS.—In this section, the term ‘‘net removals’’ means— (1) the sum of— (A) the quantity of a product described in subsection (b) purchased by the Commodity Credit Corporation under this section; and ( B ) the quantity of the product e x ported under section 153 of the Food Security Act of 1985 (15 U.S.C. 713a – 14); less (2) the quantity of the product sold for unrestricted use by the Commodity Credit Corporation. (b) SUPPORT A C TIVITIES.—During the period beginning on J anuary 1, 2008, and ending December 31, 2012, the Secretary shall support the price of cheddar cheese, butter, and nonfat dry mil k through the purchase of such products made from milk pro- duced in the United States. (c) P URC H ASE PRICE.— T o carry out subsection (b) during the period specified in that subsection, the Secretary shall purchase— (1) cheddar cheese in blocks at not less than $ 1.13 per pound; (2) cheddar cheese in barrels at not less than $1.10 per pound; (3) butter at not less than $1.05 per pound; and (4) nonfat dry milk at not less than $0.80 per pound. (d) TEMPORAR Y PRICE A DJ USTMENT TO AVOID E X CESS INVEN- TORIES.— (1) ADJUSTMENTS AUTHORI Z ED.—The Secretary may ad j ust the minimum purchase prices established under subsection (c) only as permitted under this subsection. (2) CHEESE INVENTORIES IN EXCESS OF 20 0,000,000 POUNDS.— If net removals for a period of 12 consecutive months exceed 200,000,000 pounds of cheese, but do not exceed 400,000,000 Timep e r i od.7USC8 77 1 . 7USC7 2 87.
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