; and (ii) either— (I) the revenue of the covered producer was reduced by 5 percent or greater during the covered period, as compared to the benchmark revenue of the covered producer; or (II) the covered producer has incurred increased costs in excess of 5 percent due to the COVID–19 emergency during the covered period. (B) Timing To be eligible to receive a payment under this section, a covered producer shall submit to the Secretary an application described in subparagraph (A), not later than 120 days after the date of the enactment of this Act. (2) Benchmark revenue (A) In general Subject to subparagraphs (B) and (C), the benchmark revenue of a covered producer shall be any 1 calendar year in the 3 calendar years prior to the first day of the covered period, as determined by the covered producer. (B) Very new producers In the case of a covered producer that has been in operation for less than 1 year before the first day of the covered period, the Secretary shall— (i) determine the benchmark revenue based on comparable farm operations in such manner as the Secretary determines appropriate