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Federal Register / Vol. 86, No. 236 / Monday, December 13, 2021 / Rules and Regulations 1 Herd health record documenting cow and heifer deaths; and 2 Farm inventory or other record identifying the loss of dairy cows and heifers.
d The affected farmer certifies at application that once the cow indemnity application is approved, the affected farmer will dry off all lactating cows in a reasonable timeframe and discontinue milking.
12. Add 760.13 to read as follows:
760.13

Application for payment of cows.

a Any affected farmer may apply for cow indemnity under 760.10 and 760.11. To apply for DIPP for affected cows, the affected farmer must sign and file an application for payment on a form that is approved for that purpose by the Deputy Administrator and provide the information described in 760.12.
b The form must be filed with the FSA county office for the county where the farm headquarters is located by December 31 following the fiscal year end in which the affected farmers milk was removed from the commercial market, except that affected farmers that have received 3 months of milk indemnity payments prior to December 13, 2021, must file the form within 120
days after December 13, 2021. Upon written request from an affected farmer and at Deputy Administrators discretion, the deadline for that affected farmer may be extended.

13. The authority citation for 7 CFR
part 1410 continues to read as follows:

Amended
14. Amend 1410.6 as follows:
a. In paragraph e4ii, remove ;
and and add a semicolon in its place;
and b. Remove paragraph e4iii.

Amended
15. Amend 1410.90 in paragraph c introductory text by removing the fourth sentence.

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PART 1421GRAINS AND SIMILARLY
HANDLED COMMODITIES
MARKETING ASSISTANCE LOANS
AND LOAN DEFICIENCY PAYMENTS
16. The authority citation for part 1421 continues to read as follows:

Authority: 7 U.S.C. 72317237, 7931
7936, and 903140, 15 U.S.C. 714b and c.

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15:56 Dec 10, 2021

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Amended
17. Amend 1421.1 in paragraph e by removing the words and payment limitation.
18. Amend 1421.3 as follows:
a. Add definition for Commodity certificate exchange in alphabetical order; and b. Revise the definition of Market loan gain.
The addition and revision read as follows:

1421.3

Definitions.

Commodity certificate exchange means the exchange, as provided for in 1421.111, of commodities pledged as collateral for a marketing assistance loan at a rate determined by CCC in the form of a commodity certificate bearing a dollar denomination.

Market loan gain is the loan rate, minus the repayment rate on loans repaid at a rate that is less than the loan rate. A producers adjusted gross income must be below the limit as specified in part 1400 of this chapter to receive a market loan gain.

1421.4

Amended
19. Amend 1421.4 by removing paragraph h.

1421.5

Amended
1421.9

Amended
21. Amend 1421.9 in paragraph f by adding the words or additional commodities as determined by the Deputy Administrator on a crop year basis after peanuts.

Authority: 15 U.S.C. 714b and 714c; 16
U.S.C. 38013847.

1421.1

20. Amend 1421.5 in paragraph c1 by adding the word nonrecourse after the words pledged for a.

1410.90

1421.104

PART 1410CONSERVATION
RESERVE PROGRAM

1410.6

Subpart AGeneral
Amended
23. Amend 1421.104 in paragraph a1 by removing the words lien searches, and and law, as and adding lien searches and and law as in their places, respectively.

24. Add 1421.110 to read as follows:

1421.110 Commodity certificate exchanges.

a For any outstanding marketing assistance loan, a producer may purchase a commodity certificate and exchange that commodity certificate for the marketing assistance loan collateral.
b The exchange rate is the lessor of:
1 The loan rate and charges, plus interest applicable to the loan; or 2 The prevailing world market price, as determined by CCC, or the alternative repayment rate for all other commodities, as determined by CCC.
c Commodity certificate exchanges may not be used when locking in a repayment rate under 1421.10.
d Producers must request a commodity certificate exchange on or before loan maturity in person at the FSA county office that disbursed the marketing assistance loan by:
1 Completing a written request on the form or providing the information as required by CCC;
2 Purchasing a commodity certificate for the exact amount required to exchange the marketing assistance loan collateral; or 3 Immediately exchanging the purchased commodity certificate for the outstanding loan collateral.
e Loan gains realized from a commodity certificate exchange are not subject to AGI provisions specified in part 1400 of this chapter.
1421.112

Subpart BMarketing Assistance Loans
70705

Amended
22. Amend 1421.102 by revising paragraph a1 to read as follows:

25. Amend 1421.112 in paragraph b introductory text by removing the word effected and adding affected in its place in the second sentence.

1421.102

Adjustment of basic loan rates.

a
1 For farm-stored commodities, except for peanuts, that exceed acceptable levels of contamination, the loan rate will be discounted to 10
percent of the base county MAL rate if pledged as collateral for a nonrecourse loan. Loan rates for commodities with acceptable levels of contamination will not be adjusted if pledged as collateral for recourse loans.

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26. Amend 1421.113 by revising paragraph a to read as follows:

1421.113

Recourse MALs.

a CCC will make recourse MALs available to eligible producers of high moisture corn, high moisture grain sorghum, commodities that fall within acceptable levels of contamination and remain merchantable, and other eligible loan commodities as determined by the Deputy Administrator, Farm Programs.

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