1994 Cotton Loan and LDP Provisions

On August 2, 1994, the Commodity Credit Corporation (CCC) issued an interim rule with respect to the cotton price support program which is conducted by the CCC in accordance with The Agricultural Act of 1949, as amended (the 1949 Act). This interim rule provided greater clarity, enhanced the administration of CCC programs by providing uniformity between CCC price support programs, provided more authority to State and county committees in administering the programs, lessened administrative actions CCC imposes on producers who violate the loan and loan deficiency payment agreements, eliminated obsolete provisions, and more appropriately reflected loan eligibility requirement for the 1994 and subsequent year crops. This rule adopts as final the interim rule published on August 2, 1994 at 59 FR 39251. In addition, this rule amends 7 CFR Chapter XIV to reflect the abolishment of ASCS and the establishment of the Consolidated Farm Service Agency in the recent Department of Agriculture reorganization.