PROGRAM OPTION FOR 1996 CROPS.

SEC. 1129. PROGRAM OPTION FOR 1996 CROPS. Subsection (b) of section 406 of the Agricultural Act of 1949 (7 U.S.C. 1426(b)) is amended to read as follows: “(b) (1) Notwithstanding any other provision of law, the Secretary may offer an option to producers of the 1996 crop of wheat, feed grains, upland cotton, extra long staple cotton, rice, or oilseeds and to dairy producers for the 1996 calendar year to participate in commodity price support, production adjustment, and payment programs as provided in this subsection. “(2) The Secretary may offer such programs based on the terms and conditions as are provided in sections 101(h), 101B, 103B, 105B,104 STAT. 3509 107B, 114, 204, and 205 of the Agricultural Act of 1949, and any other relevant provisions of the Agricultural Act of 1949, as determined by the Secretary. Any established price or loan and purchase level made available in accordance with this subsection shall be established at the same level as that established for the 1995 crop or, in the case of milk, for the 1995 calendar year. “(3) The Secretary may offer each of the programs provided for by this subsection if the Secretary has not made final announcement of the terms of the commodity price support, production adjustment, or payment programs for the 1996 crops of wheat, feed grains, cotton, rice, or oilseeds, or the 1996 calendar year for dairy on or before the later of— “(A) in the case of wheat, June 1, 1995; “(B) in the case of feed grains, September 30, 1995; “(C) in the case of upland cotton, November 1, 1995; “(D) in the case of extra long staple cotton, December 1, 1995; “(E) in the case of rice, January 31, 1996; “(F) in the case of oilseeds, July 15, 1995; and “(G) in the case of dairy, November 1, 1995. “(4) Producers may not participate in such programs unless a law has been enacted subsequent to the date of enactment of this subsection that provides for loans and purchases for the 1996 crop of wheat, feed grains, cotton, rice, or oilseeds, or for dairy for the 1996 calendar year. “(5) The Secretary may use the funds, facilities and authorities of the Commodity Credit Corporation in carrying out this subsection.”.