GroundRules
7 CFR 760.1612: Calculating payments for on-farm stored commodity losses.
Where this section sits in the code
- Title 7—Agriculture
- Subtitle B—Regulations of the Department of Agriculture
- CHAPTER VII—FARM SERVICE AGENCY, DEPARTMENT OF AGRICULTURE
- SUBCHAPTER D—SPECIAL PROGRAMS
- PART 760—INDEMNITY PAYMENT PROGRAMS
- Subpart P—On-Farm Stored Commodity Loss Program
(a) Payments made under this subpart for eligible on-farm stored commodities are calculated by:
(1) Multiplying the NASS Market Year Average Price or FSA determined price for the eligible on-farm stored commodity by 75 percent;
(2) Multiplying the result from paragraph (a)(1) of this section by the eligible quantity of the eligible on-farm stored commodity adjusted by applicable shares of the producer;
(3) Reducing the calculated amount by subtracting any payment received from an insurance indemnity or salvage buyer; and
(4) Applying a payment factor based on the total calculated payments for all applications if the total calculated payments exceed the available funding.
(b) [Reserved]
Collected 2026-08-27T02:24:01Z. Source file · JSON