Page:United States Statutes at Large Volume 103 Part 3.djvu/42

 103 STAT. 2110 PUBLIC LAW 101-239—DEC. 19, 1989 (2) TIMING OP PAYMENTS.— The annual payments provided for by this subsection shall be made available as soon as practicable after October 1 of each of the calendar years 1989 through 1992. ^. (3) CALCULATION OP PIRST PAYMENT.— The first annual pay- ment made available under this subsection shall be in an amount equal to— (A) a percentage equal to 1.5 times the avereige rate of interest received by the Financial Assistance Corporation I « on assets of the Trust Fund from March 30, 1988, through September 30, 1989; times (B) the difference between $177,000,000 and 4.4 percent of the cumulative amount of the bonds issued by the Financial Assistance Corporation through September 30, 1989. (4) CALCULATION OP REMAINING PAYMENTS. —The second, third, and fourth annual pa3anents made available under this subsec- tion shall be in an amount equal to— (A) a percentage equal to the average rate of interest received by the Financial Assistance Corporation on assets , of the Trust Fund during each of the fiscal years 1990 through 1992; times (B) the difference between $177,000,000 and 4.4 percent of the cumulative amount of the bonds issued by the Financial Assistance Corporation through September 30 of each of such fiscal years. (5) DISTRIBUTION OP ANNUAL PAYMENTS. —Annual pa3nnents due under this subsection shall be made available to each f, institution described in paragraph (1) in an amount equal to the total amount of annual payments to be made available times the ratio of the amount of stock each institution purchased divided by $177,000,000. SEC. 1007. ADJUSTMENTS IN DAIRY PRICE SUPPORT PROGRAM. Effective only for calendar year 1990, section 201(d)(l) of the Agricultural Act of 1949 (7 U.S.C. 1446(d)(l)) is amended— (1) in subparagraph CO- CA) in clause (ii), by inserting after "Except as provided in" the following: "clause (iii) and"; and V^* - (B) by adding at the end the following new clause: "(iii) In carrying out this paragraph during calendar year 1990, the Secretary shall offer to purchase butter for not more than $1.10 per pound, except that the Secretary may allocate the rate of price support between the purchase prices for nonfat dry milk and butter in such other manner as the Secretary determines will result in the lowest level of expenditures by the Commodity Credit Corporation and shall notify the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate of such determination."; and ^ (2) in subparagraph (D)(i)— (A) by striking "each of the calendar years 1988 and 1990" and inserting "calendar year 1990"; and (B) by striking "shall reduce by" and inserting "may reduce by not more than".

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