CALCULATION OF REFUNDS OF ADVANCE ESTABLISHED PRICE PAYMENTS BY PRODUCERS OF THE 1988 OR 1989 CROPS OF FEED BARLEY.

SEC. 405. CALCULATION OF REFUNDS OF ADVANCE ESTABLISHED PRICE PAYMENTS BY PRODUCERS OF THE 1988 OR 1989 CROPS OF FEED BARLEY. (a) Mandatory Calculation of Refund.— (1) In general.— Not later than 90 days after the date of enactment of this Act, the Secretary of Agriculture shall calculate, for informational purposes only (except as provided in the discretionary authority under subsection (b)), the amount of the refund of any advance deficiency payment a producer of barley who participated in the 1988 or 1989 Federal barley price support program would be required to make pursuant to section 107C of the Agricultural Act of 1949 (7 U.S.C. 1445b–2) (as it existed immediately before the date of enactment of this Act) based on a formula which excludes malting barley from the market price calculations of barley used to determine the amount of refund of the advance deficiency payment required of the producer. (2) Disclosure.— (A) To the public.— The Secretary shall publish in the Federal Register— (i) the formula used to perform the calculations described in paragraph (1); (ii) the aggregate results that the use of the calculation would have pursuant to subsection (b), in terms of— (I) the total reduction in the amount of refunds; (II) the number of producers affected; and (III) any other information the Secretary determines appropriate; (iii) a declaration of the Secretary’s decision whether to use the calculation to recalculate barley producer’s refunds pursuant to subsection (b); and 104 STAT. 3421 (iv) a statement of the Secretary’s reasons for the decision described in clause (iii). (B) To producers.— The Secretary shall make available to each producer of 1988 or 1989 crop barley, on request, a statement detailing the effect of the calculation of refunds described in paragraph (1) on the producer’s 1988 or 1989 refund. (b) Discretionary Use of Calculation.— (1) In general.— The Secretary may use the calculation described in subsection (a) to determine whether or not to reduce the total refund owed by a producer of 1988 or 1989 crop barley under section 107C of the Agricultural Act of 1949 (as it existed immediately before the date of enactment of this Act). (2) Procedure for use of calculation.— If the Secretary decides to use the calculation described in subsection (a) as provided under paragraph (1), in the case of a producer of 1988 or 1989 crop barley who paid the refund of the advance deficiency payment for the crop calculated prior to the date of enactment of this Act (or any amount of refund in excess of the amount of the refund determined in accordance with paragraph (1)), the Secretary— (i) shall, before May 31, 1991, reimburse the producer the amount of refund paid by the producer in excess of the refund determined in accordance with this section; (ii) shall have the option to make the reimbursement in a lump sum or in installments; (iii) shall, not later than 90 days after the date of enactment of this Act, notify producers who are eligible to receive the reimbursement of their 1988 or 1989 advance deficiency payment refund under this section— (I) of the timing of the payment of the reimbursement (either in lump sum or in installments); (II) that the amount of the reimbursement shall not bear interest if paid before February 15, 1991; and (III) that the amount of the reimbursement paid after February 15, 1991, shall bear interest at a rate of at least 7 percent per annum; and (iv) may elect to pay the reimbursement in a lump sum with generic certificates redeemable for commodities owned by the Commodity Credit Corporation if the reimbursement is paid in full not later than 60 days after the date of enactment of this Act.