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S13766 CONGRESSIONAL RECORD — SENATE November 3, 1999
made to the President not later than 15 days ‘‘(A) one-half of the difference between— ‘‘(e) PENALTIES.—Whoever makes a false
after the day on which the Commission ‘‘(i) an amount equal to 80 percent of the statement of a material fact knowing it to
makes its report under section 202(f). Upon average of the national average price of the be false, or knowingly fails to disclose a ma-
making his report to the President, the Sec- agricultural commodity covered by the ap- terial fact, for the purpose of obtaining or in-
retary shall also promptly make it public plication described in subsection (a) for the 5 creasing for himself or for any other person
(with the exception of information which the marketing years preceding the most recent any payment authorized to be furnished
Secretary determines to be confidential) and marketing year, and under this chapter shall be fined not more
shall have a summary of it published in the ‘‘(ii) the national average price of the agri- than $10,000 or imprisoned for not more than
Federal Register. cultural commodity for the most recent mar- 1 year, or both.
‘‘SEC. 295. BENEFIT INFORMATION TO AGRICUL- keting year, and ‘‘SEC. 298. AUTHORIZATION OF APPROPRIATIONS.
TURAL COMMODITY PRODUCERS. ‘‘(B) the amount of the agricultural com- ‘‘(a) IN GENERAL.—There are authorized to
‘‘(a) IN GENERAL.—The Secretary shall pro- modity produced by the agricultural com- be appropriated and there are appropriated
vide full information to producers about the modity producer in the most recent mar- to the Department of Agriculture for fiscal
benefit allowances, training, and other em- keting year. years 2000 through 2001, such sums as may be
ployment services available under this title ‘‘(2) SPECIAL RULE FOR SUBSEQUENT QUALI-
and about the petition and application proce- necessary to carry out the purposes of this
FIED YEARS.—The amount of cash benefits for
dures, and the appropriate filing dates, for chapter not to exceed $100,000,000 for each fis-
a qualified year shall be determined in the cal year.’’.
such allowances, training, and services. The same manner as cash benefits are deter-
Secretary shall provide whatever assistance ‘‘(b) PROPORTIONATE REDUCTION.—If in any
mined under paragraph (1) except that the year, the amount appropriated under this
is necessary to enable groups to prepare peti- average national price of the agricultural
tions or applications for program benefits chapter is insufficient to meet the require-
commodity shall be determined under para- ments for adjustment assistance payable
under this title. graph (1)(A)(i) by using the 5-marketing-year
‘‘(b) NOTICE OF BENEFITS.— under this chapter, the amount of assistance
period used to determine the amount of cash payable under this chapter shall be reduced
‘‘(1) IN GENERAL.—The Secretary shall mail benefits for the first certification.
written notice of the benefits available proportionately.’’.
‘‘(c) MAXIMUM AMOUNT OF CASH ASSIST-
under this chapter to each agricultural com- (b) CONFORMING AMENDMENT.—The table of
ANCE.—The maximum amount of cash bene-
modity producer that the Secretary has rea- fits an agricultural commodity producer contents for title II of the Trade Act of 1974
son to believe is covered by a certification may receive in any 12-month period shall not is amended by inserting after the items re-
made under this chapter. exceed $10,000. lating to chapter 5, the following:
‘‘(2) OTHER NOTICE.—The Secretary shall ‘‘(d) LIMITATIONS ON OTHER ASSISTANCE.— ‘‘CHAPTER 6—ADJUSTMENT ASSISTANCE FOR
publish notice of the benefits available under An agricultural commodity producer enti- FARMERS
this chapter to agricultural commodity pro- tled to receive a cash benefit under this
ducers that are covered by each certification ‘‘Sec. 291. Definitions.
chapter—
made under this chapter in newspapers of ‘‘Sec. 292. Petitions; group eligibility.
‘‘(1) shall not be eligible for any other cash
‘‘Sec. 293. Determinations by Secretary.
general circulation in the areas in which benefit under this title, and ‘‘Sec. 294. Study by Secretary when Inter-
such producers reside. ‘‘(2) shall be entitled to employment serv-
national Trade Commission be-
‘‘SEC. 296. QUALIFYING REQUIREMENTS FOR AG- ices and training benefits under sections 235
RICULTURAL COMMODITY PRO- gins investigation.
and 236.
DUCERS. ‘‘Sec. 295. Benefit information to agricul-
‘‘SEC. 297. FRAUD AND RECOVERY OF OVERPAY-
‘‘(a) IN GENERAL.—Payment of a trade ad- MENTS.
tural commodity producers.
justment allowance shall be made to an ad- ‘‘Sec. 296. Qualifying requirements for agri-
‘‘(a) IN GENERAL.—
versely affected agricultural commodity pro- cultural commodity producers.
‘‘(1) REPAYMENT.—If the Secretary, or a
ducer covered by a certification under this ‘‘Sec. 297. Fraud and recovery of overpay-
court of competent jurisdiction, determines
chapter who files an application for such al- ments.
that any person has received any payment
lowance within 90 days after the date on ‘‘Sec. 298. Authorization of appropriations.’’.
under this chapter to which the person was
which the Secretary makes a determination not entitled, such person shall be liable to Subtitle B—Revenue Provisions Relating to
and issues a certification of eligibility under repay such amount to the Secretary, except Trade Adjustment Assistance
section 293, if the following conditions are that the Secretary may waive such repay- SEC. 10. REFERENCE.
met: ment if the Secretary determines, in accord- Except as otherwise expressly provided,
‘‘(1) The producer submits to the Secretary ance with guidelines prescribed by the Sec- whenever in this subtitle an amendment or
sufficient information to establish the retary that— repeal is expressed in terms of an amend-
amount of agricultural commodity covered ‘‘(A) the payment was made without fault ment to, or repeal of, a section or other pro-
by the application filed under subsection (a), on the part of such person, and vision, the reference shall be considered to
that was produced by the producer in the ‘‘(B) requiring such repayment would be be made to a section or other provision of
most recent year. contrary to equity and good conscience. the Internal Revenue Code of 1986.
‘‘(2) The producer certifies that the pro- ‘‘(2) RECOVERY OF OVERPAYMENT.—Unless
ducer has not received cash benefits under SEC. 11. MODIFICATIONS TO ASSET DIVER-
an overpayment is otherwise recovered, or SIFICATION TEST.
any provision of this title other than this waived under paragraph (1), the Secretary
chapter. (a) IN GENERAL.—Subparagraph (B) of sec-
shall recover the overpayment by deductions tion 856(c)(4) is amended to read as follows:
‘‘(3) The producer’s net farm income (as de- from any sums payable to such person under
termined by the Secretary) for the most re- ‘‘(B)(i) not more than 25 percent of the
this chapter. value of its total assets is represented by se-
cent year is less than the producer’s net ‘‘(b) FALSE STATEMENTS.—If the Secretary,
farm income for the latest year in which no curities (other than those includible under
or a court of competent jurisdiction, deter-
adjustment assistance was received by the subparagraph (A)),
mines that a person—
producer under this chapter. ‘‘(ii) not more than 20 percent of the value
‘‘(1) knowingly has made, or caused an-
‘‘(4) The producer certifies that the pro- of its total assets is represented by securities
other to make, a false statement or represen-
ducer has met with an Extension Service em- of 1 or more taxable REIT subsidiaries, and
tation of a material fact, or
ployee or agent to obtain, at no cost to the ‘‘(iii) except with respect to a taxable
‘‘(2) knowingly has failed, or caused an-
producer, information and technical assist- REIT subsidiary and securities includible
other to fail, to disclose a material fact,
ance that will assist the producer in adjust- under subparagraph (A)—
and as a result of such false statement or ‘‘(I) not more than 5 percent of the value of
ing to import competition with respect to representation, or of such nondisclosure,
the adversely affected agricultural com- its total assets is represented by securities of
such person has received any payment under
modity, including— any one issuer,
this chapter to which the person was not en-
‘‘(A) information regarding the feasibility ‘‘(II) the trust does not hold securities pos-
titled, such person shall, in addition to any
and desirability of substituting 1 or more al- sessing more than 10 percent of the total vot-
other penalty provided by law, be ineligible
ternative commodities for the adversely af- ing power of the outstanding securities of
for any further payments under this chapter.
fected agricultural commodity; and ‘‘(c) NOTICE AND DETERMINATION.—Except any one issuer, and
‘‘(B) technical assistance that will improve for overpayments determined by a court of ‘‘(III) the trust does not hold securities
the competitiveness of the production and competent jurisdiction, no repayment may having a value of more than 10 percent of the
marketing of the adversely affected agricul- be required, and no deduction may be made, total value of the outstanding securities of
tural commodity by the producer, including under this section until a determination any one issuer.’’.
yield and marketing improvements. under subsection (a)(1) by the Secretary has (b) EXCEPTION FOR STRAIGHT DEBT SECURI-
‘‘(b) AMOUNT OF CASH BENEFITS.— been made, notice of the determination and TIES.—Subsection (c) of section 856 is amend-
‘‘(1) IN GENERAL.—Subject to the provisions an opportunity for a fair hearing thereon has ed by adding at the end the following new
of section 298, an adversely affected agricul- been given to the person concerned, and the paragraph:
tural commodity producer described in sub- determination has become final. ‘‘(7) STRAIGHT DEBT SAFE HARBOR IN APPLY-
section (a) shall be entitled to adjustment ‘‘(d) PAYMENT TO TREASURY.—Any amount ING PARAGRAPH (4).—Securities of an issuer
assistance under this chapter in an amount recovered under this section shall be re- which are straight debt (as defined in section
equal to the product of— turned to the Treasury of the United States. 1361(c)(5) without regard to subparagraph
