US Code

Public Law 119-83 (04/13/2026)

7 U.S.C. § 7971

Storage facility loans

(a)

In general

Notwithstanding any other provision of law and as soon as practicable after , the Commodity Credit Corporation shall amend part 1436 of title 7, Code of Federal Regulations, to establish a sugar storage facility loan program to provide financing for processors of domestically-produced sugarcane and sugar beets to construct or upgrade storage and handling facilities for raw sugars and refined sugars.

(b)

Eligible processors

A storage facility loan described in subsection (a) shall be made available to any processor of domestically produced sugarcane or sugar beets that (as determined by the Secretary)—
(1)
has a satisfactory credit history;
(2)
has a need for increased storage capacity, taking into account the effects of marketing allotments; and
(3)
demonstrates an ability to repay the loan.
(c)

Term of loans

A storage facility loan described in subsection (a) shall—
(1)
have a minimum term of 7 years;
(2)
not include any penalty for prepayment; and
(3)
be in such amounts and on such other terms and conditions (including terms and conditions relating to downpayments, collateral, and eligible facilities) as are normal, customary, and appropriate for the size and commercial nature of the borrower.

Pub. L. 107–171, title I, § 1402116 Stat. 187 Pub. L. 110–234, title I, § 1404122 Stat. 989 Pub. L. 110–246, § 4(a)122 Stat. 1664 (, , ; , , ; , title I, § 1404, , , 1718.)

Editorial Notes

Codification

Pub. L. 110–234Pub. L. 110–246Pub. L. 110–234section 4(a) of Pub. L. 110–246 and made identical amendments to this section. The amendments by were repealed by .

Amendments

Pub. L. 110–246, § 14042008—Subsec. (c)(2), (3). , added par. (2), redesignated former par. (2) as (3), and, in par. (3), inserted “other” after “on such”.

Statutory Notes and Related Subsidiaries

Effective Date of 2008 Amendment

Pub. L. 110–234Pub. L. 110–246Pub. L. 110–234section 4 of Pub. L. 110–246section 8701 of this titleAmendment of this section and repeal of by effective , the date of enactment of , see , set out as an Effective Date note under .