1. (a) A milk loss payment will be made to an affected farmer who is in compliance with this subpart in the amount equal to 75 percent of the fair market value of the farmer's normal marketings for the application period, less:

   1. (1) Any amount the affected farmer received for milk marketed during the application period; and
   2. (2) Any payment not subject to refund that the affected farmer received from a milk handler with respect to milk removed from the commercial market during the application period.
2. (b) [Reserved]

[88 FR 62290, Sept. 11, 2023, as revised at 90 FR 30558, July 10, 2025; 90 FR 51975, Nov. 18, 2025]