[Code of Federal Regulations]
[Title 7, Volume 10]
[Revised as of January 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1463.100]

[Page 664]
 
                          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. 1463.100  General.

    Source: 70 FR 17159, Apr. 4, 2005, unless otherwise noted.


    (a) The Commodity Credit Corporation (CCC) will make payments to 
tobacco quota holders and tobacco producers as provided in this subpart 
with respect to farms for which a tobacco marketing quota had been 
established by the Farm Service Agency (FSA). To be eligible for a 
payment, such person must meet all provisions of this part; submit to 
CCC an application provided by CCC to enter into a contract for payment; 
and submit other information as may be required by CCC. Payments will be 
made by CCC annually over a 10-year period.
    (b) As provided in this part, a tobacco quota holder or tobacco 
producer who is not the subject of an outstanding claim established by 
the United States may, under the terms and conditions established by CCC 
and with the prior approval of CCC, enter into a successor in interest 
contract with another person or entity. Upon approval by CCC, all rights 
and obligations of the quota holder or producer, with respect to 
payments made by CCC under this part, will be terminated and transferred 
to the successor party.
    (c) As provided in this part, a tobacco quota holder or tobacco 
producer who may, under the terms and conditions established by CCC, and 
with the prior approval of CCC, may assign the right to receive a 
payment to be made under this part by executing an assignment as 
provided in Sec. 1463.111.
    (d) Notwithstanding any other provision of this chapter, the 
provisions of 7 CFR parts 723 and 1464 shall not be applicable to the 
2005 and subsequent crops and the 2005 and subsequent marketing years.