Page:United States Statutes at Large Volume 63 Part 1.djvu/1092

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PUBLIC LAWS-CH. 792-OCT. 31,1949 TITLE IV-MISCELLANEOUS SEC. 401. (a) The Secretary shall provide the price support author- ized or required herein through the Commodity Credit Corporation and other means available to him. (b) Except as otherwise provided in this Act, the amounts, terms, and conditions of price support operations and the extent to which such operations are carried out, shall be determined or approved Determg u rtfators by the Secretary. The following factors shall be taken into consid- eration in determining, in the case of any commodity for which price support is discretionary, whether a price-support operation shall be undertaken and the level of such support and, in the case of any com- modity for which price support is mandatory, the level of support in excess of the minimum level prescribed for such commodity: (1) the supply of the commodity in relation to the demand therefor, (2) the price levels at which other commodities are being supported and, in the case of feed grains, the feed values of such grains in relation to corn, (3) the availability of funds, (4) the perishability of the com- modity, (5) the importance of the commodity to agriculture and the national economy, (6) the ability to dispose of stocks acquired through a price-support operation, (7) the need for offsetting temporary losses of export markets, and (8) the ability and willingness of producers to keep supplies in line with demand. produmriance by (C) Compliance by the producer with acreage allotments, produc- tion goals and marketing practices (including marketing quotas when authorized by law), prescribed by the Secretary, may be required as a condition of eligibility for price support. price support level. (d) The level of price support for any commodity shall be deter- mined upon the basis of its parity price as of the beginning of the mar- keting year or season in the case of any commodity marketed on a marketing year or season basis and as of January 1 in the case of any other commodity. rice supporte at SEC. 402. Notwithstanding any other provision of this Act, price support at a level in excess of the maximum level of price support otherwise prescribed in this Act may be made available for any agri- cultural commodity if the Secretary determines, after a public hear- ing of which reasonable notice has been given, that price support at such increased level is necessary in order to prevent or alleviate a shortage in the supply of any agricultural commodity essential to the national welfare or in order to increase or maintain the production of any agricultural commodity in the interest of national security. The Secretary's determination and the record of the hearing shall be avail- able to the public. Adjustments. SEC. 403. Appropriate adjustments may be made in the support price for any commodity for differences in grade, type, staple, quality, location, and other factors. Such adjustments shall, so far as prac- ticable, be made in such manner that the average support price for such commodity will, on the basis of the anticipated incidence of such factors, be equal to the level of support determined as provided in this Act. Middling seven-eighths inch cotton shall be the standard grade for purposes of parity and price support. SEC. 404. The Secretary, in carrying out programs under section 32 of Public Law Numbered 320, Seventy-fourth Congress, approved 49 sta.da; August 24, 1935, as amended, and section 6 of the National School Su.II, §612c. Lunch Act may utilize the services and facilities of the Commodity 0Stat. 23 . Credit Corporation (including but not limited to procurement by 42U. S . C. 155. contract), and make advance payments to it. dLebibty for def- SEC. 405. No producer shall be personally liable for any deficiency arising from the sale of the collateral securing any loan made under 1054 [63 STAT.