SUGAR PRICE SUPPORT.

SEC. 901. SUGAR PRICE SUPPORT. Title II of the Agricultural Act of 1949 (7 U.S.C. 1446 et seq.) (as amended by section 701 of this Act) is further amended— (1) in the matter preceding subsection (a) of section 201 (7 U.S.C. 1446), by striking “honey, and milk” and inserting “honey, milk, sugar beets, and sugarcane”; and (2) by adding at the end the following new section: “SEC. 206. SUGAR PRICE SUPPORT FOR 1991 THROUGH 1995 CROPS. “(a) In General.— The price of each of the 1991 through 1995 crops of sugar beets and sugarcane, respectively, shall be supported in accordance with this section. “(b) Sugarcane.— The Secretary shall support the price of domestically grown sugarcane through nonrecourse loans at such level as the Secretary determines appropriate, but not less than 18 cents per pound for raw cane sugar. “(c) Sugar Beets.— The Secretary shall support the price of each of the 1991 through 1995 crops of domestically grown sugar beets through nonrecourse loans at such level for each such crop as the Secretary determines reflects— “(1) an amount that bears the same relation to the support level for the crop of sugarcane under subsection (b) as the weighted average of producer returns for sugar beets bears to the weighted average of producer returns for sugarcane, expressed on a cents per pound basis for refined beet sugar and raw cane sugar, for the most recent 5-year period for which data are available; plus “(2) an amount that covers sugar beet processor fixed marketing expenses. “(d) Adjustment in Support Price.— “(1) In general.— The Secretary may increase the support price for each of the 1991 through 1995 crops of domestically104 STAT. 3479 grown sugarcane and sugar beets from the price determined for the preceding crop based on such factors as the Secretary determines appropriate, including changes (during the 2 crop years immediately preceding the crop year for which the determination is made) in the cost of sugar products, the cost of domestic sugar production, and other circumstances that may adversely affect domestic sugar production. “(2) Report.— If the Secretary makes a determination not to increase the support price under paragraph (1), the Secretary shall submit a report containing the findings, decision, and supporting data for the determination to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate. “(e) Announcements.— The Secretary shall announce the loan rate to be applicable during any fiscal year under this section as far in advance of the beginning of that fiscal year as is practicable consistent with the purposes of this section. “(f) Term.— Loans under this section during any fiscal year shall be made available not earlier than the beginning of the fiscal year and shall mature at the earlier of— “(1) the end of 9 months; or “(2) the end of the fiscal year. “(g) Supplementary Nonrecourse Loans.— In the case of sugar beet producing areas in which sugar beets normally are harvested during the last 3 months of a fiscal year, the Secretary shall make available, to each borrower of a loan made and repaid under this section during the last 3 months of the fiscal year on sugar processed from sugar beets so harvested, a supplementary nonrecourse loan in addition to the initial loan. In each case, the supplementary loan shall— “(1) be made available to the borrower as of the first day of the following fiscal year; “(2) be made at the same loan rate as the initial loan; and “(3) mature in 9 months less the amount of time that the initial loan was in effect. “(h) Use of Commodity Credit Corporation.— The Secretary shall use the funds, facilities, and authorities of the Commodity Credit Corporation to carry out this section. “(i) Crops.— This section shall be effective only for the 1991 through 1995 crops of sugar beets and sugarcane.”.