PAYMENT AND INCOME LIMITATIONS.

SEC. 112. PAYMENT AND INCOME LIMITATIONS. Section 519 (7 U.S.C. 1519) (as amended by section 111) is further amended by adding at the end the following new subsection: “(h) Payment and Income Limitations.— “(1) Definitions.— As used in this subsection: “(A) Person.— The term “person’ has the meaning provided the term in regulations issued by the Secretary. The regulations shall conform, to the extent practicable, to the regulations defining the term “person’ issued under section 1001 of the Food Security Act of 1985 (7 U.S.C. 1308). “(B) Qualifying gross revenues.— The term ‘qualifying gross revenues’ means— “(i) if a majority of the gross revenue of the person is received from farming, ranching, and forestry oper-108 STAT. 3203ations, the gross revenue from the farming, ranching, and forestry operations of the person; and “(ii) if less than a majority of the gross revenue of the person is received from farming, ranching, and forestry operations, the gross revenue of the person from all sources. “(2) Payment limitation.— The total amount of payments that a person shall be entitled to receive annually under this title may not exceed $100,000. “(3) Limitation on multiple benefits for same loss.— If a producer who is eligible to receive benefits under catastrophic risk protection under section 508(b) or noninsured crop disaster assistance under this section is also eligible to receive assistance for the same loss under any other program administered by the Secretary, the producer shall be required to elect whether to receive benefits under this title or under the other program, but not both. A producer who purchases additional coverage under section 508(c) may also receive assistance for the same loss under other programs administered by the Secretary, except that the amount received for the loss under the additional coverage together with the amount received under the other programs may not exceed the amount of the actual loss of the producer. “(4) Income limitation.— A person who has qualifying gross revenues in excess of the amount specified in section 2266(a) of the Food, Agriculture, Conservation, and Trade Act of 1990 (7 U.S.C. 1421 note) (as in effect on November 28, 1990) during the taxable year (as determined by the Secretary) shall not be eligible to receive any noninsured assistance payment under this section. “(5) Regulations.— The Secretary shall issue regulations prescribing such rules as the Secretary determines necessary to ensure a fair and equitable application of section 1001 of the Food Security Act of 1985 (7 U.S.C. 1308), the general payment limitation regulations of the Secretary, and the limitations established under this subsection.”.