SA 3786. Mrs. LINCOLN submitted an amendment intended to be proposed to amendment SA 3695 submitted by Mr. DORGAN (for himself and Mr. GRASSLEY) and intended to be proposed to the bill H.R. 2419, to provide for the continuation of agricultural programs through fiscal year 2012, and for other purposes; which was ordered to lie on the table; as follows:

On page 4 of the amendment, strike lines 8 through 18, and insert the following:
shall not exceed $20,000 (as adjusted under subsection (c)(2)) in the case of corn).'';
(3) by striking subsection (c) and inserting the following:
``(c) Limitation on Counter-Cyclical Payments.--
``(1) IN GENERAL.--The total amount of counter-cyclical payments that an individual or entity may receive, directly or indirectly, during any crop year under part I or III of subtitle A or C of the Food and Energy Security Act of 2007 for 1 or more covered commodities and peanuts, or average crop revenue payments determined under section 1401(b)(3) of that Act, shall not exceed $30,000 (as adjusted under paragraph (2) in the case of corn).
``(2) SPECIAL RULE FOR CORN.--
``(A) IN GENERAL.--For each crop year, the Secretary shall calculate a per bushel ethanol benefit for corn resulting from Federal incentives for ethanol.
``(B) REDUCTION IN PAYMENTS.--
``(i) REDUCTION OF DIRECT PAYMENT.--The maximum amount of direct payments that an individual legal entity is entitled to receive for a crop year for corn under subsection (b), or average crop revenue payments determined under section 1401(b)(2) of the Food and Energy Security Act of 2007, shall be reduced by an amount equal to the product obtained by multiplying--
``(I) the amount of the ethanol benefit calculated under subparagraph (A); by
``(II) the actual quantity of corn produced by the individual or entity during the preceding crop year.
``(ii) REDUCTION OF COUNTER-CYCLICAL PAYMENTS.--If the amount calculated under subclauses (I) and (II) of clause (i) for an individual or entity exceeds the amount of direct payments the individual or entity would otherwise be entitled to receive under subsection (b) for corn, the maximum amount of counter-cyclical payments for corn that the individual or entity is entitled to receive under paragraph (1), or average crop revenue payments determined under section 1401(b)(3) of the Food
and Energy Security Act of 2007, shall be reduced by the excess amount.'';


(As printed in the Congressional Record for the Senate on Nov 16, 2007.)