26 U.S.C. § 5

DEFINITIONS AND SPECIAL RULES.

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“(a)General Rule.—For purposes of this Act—“(1) 1983 payment-in-kind program.—The term ‘1983 payment-in-kind program’ means any program for the 1983 crop year—“(A) under which the Secretary of Agriculture (or his delegate) makes payments in kind of any agricultural commodity to any person in return for—“(i) the diversion of farm acreage from the production of an agricultural commodity, and“(ii) the devotion of such acreage to conservation uses, and“(B) which the Secretary of Agriculture certifies to the Secretary of the Treasury as being described in subparagraph (A).“(2)Crop year.—The term ‘1983 crop year’ means the crop year for any crop the planting or harvesting period for which occurs during 1983. The term ‘1984 crop year’ means the crop year for wheat the planting and harvesting period for which occurs during 1984.“(3)Qualified taxpayer.—The term ‘qualified taxpayer’ means any producer of agricultural commodities (within the meaning of the 1983 payment-in-kind programs) who receives any agricultural commodity in return for meeting the requirements of clauses (i) and (ii) of paragraph (1)(A).“(4)Receipt includes right to receive, etc.—A right to receive (or other constructive receipt of) a commodity shall be treated the same as actual receipt of such commodity.“(5)Amounts received by the taxpayer as reimbursement for storage.—A qualified taxpayer reporting on the cash receipts and disbursements method of accounting shall not be treated as being entitled to receive any amount as reimbursement for storage of commodities received under a 1983 payment-in-kind program until such amount is actually received by the taxpayer.“(6)Commodity credit loans treated separately.—Subsection (a) of section 2 shall apply to the receipt of any commodity under a 1983 payment-in-kind program separately from, and without taking into account, any related transaction or series of transactions involving the satisfaction of loans from the Commodity Credit Corporation.“(b)Extension to Wheat Planted and Harvested in 1984.—In the case of wheat—“(1) any reference in this Act to the 1983 crop year shall include a reference to the 1984 crop year, and“(2) any reference to the 1983 payment-in-kind program shall include a reference to any program for the 1984 year for wheat which meets the requirements of subparagraphs (A) and (B) of subsection (a)(1).“(c)Regulations.—The Secretary of the Treasury or his delegate (after consultation with the Secretary of Agriculture) shall prescribe such regulations as may be necessary to carry out the purposes of this Act, including (but not limited to) such regulations as may be necessary to carry out the purposes of this Act where the commodity is received by a cooperative on behalf of the qualified taxpayer.”