[Code of Federal Regulations]
[Title 7, Volume 10]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1463.108]

[Page 651]
 
                          TITLE 7--AGRICULTURE
 
  CHAPTER XIV--COMMODITY CREDIT CORPORATION, DEPARTMENT OF AGRICULTURE
 
PART 1463_2005	2014 TOBACCO TRANSITION PROGRAM--Table of Contents
 
              Subpart B_Tobacco Transition Payment Program
 
Sec.  1463.108  Payment to eligible tobacco producers.

    (a) Subject to paragraph (b) of this section, the total amount of 
contract payments that may be made to an eligible tobacco producer shall 
be the product obtained by multiplying:


$3.00 per pound x the BQL for the producer determined under Sec.  
1463.106 for each kind of tobacco

    (b) Payments to an eligible producer shall be equal to:
    (1) For an eligible producer that produced tobacco that was marketed 
or considered by CCC as planted under a marketing quota in all of the 
2002, 2003, and 2004 marketing years, 100 percent of the rate specified 
in paragraph (a) of this section;
    (2) For an eligible producer that produced tobacco that was marketed 
or considered by CCC as planted under a marketing quota in any two of 
the 2002, 2003, and 2004 marketing years, 2/3 of the rate specified in 
paragraph (a) of this section; and
    (3) For an eligible producer that produced tobacco that was 
marketed, or considered by CCC as planted under a marketing quota in any 
one of the 2002, 2003, and 2004 marketing years, 1/3 of the rate 
specified in paragraph (a) of this section.
    (c) During each of the fiscal years 2005 through 2014, CCC will make 
a payment to each eligible producer in an amount equal to 10 percent of 
the total amount due under a contract entered into under this subpart 
except that in the case an application was filed after June 17, 2005, 
the applicant will receive only the TTPP payments that have not been 
made as of the date the contract is approved. However, in order for the 
contract participant to receive the 2005 TTPP payment, an application to 
enter into a TTPP contract must be filed no later than June 17, 2005. 
CCC may, in its discretion, extend any deadline set forth in this 
paragraph. However, CCC will make the FY 2005 payment between June and 
September of 2005, and subsequent payments will be made in January, to 
the extent practical, of each FY.