Page:United States Statutes at Large Volume 104 Part 5.djvu/362

 104 STAT. 3684 PUBLIC LAW 101-624—NOV. 28, 1990 "(d) COMMODITY CREDIT CORPORATION.— The Secretary shall use the Commodity Credit Corporation in carrying out the provisions of this section. "(e) REGULATIONS. —The Secretary may issue such regulations as are determined necessary to carry out this section. 7 USC 5672. "SEC. 412. DEVELOPMENT OF PLANS TO ALLEVIATE ADVERSE IMPACT OF EMBARGOES. "To alleviate, to the maximum extent possible, the adverse impact on farmers, elevator operators, common carriers, and exporters of agricultural commodities of the President or other member of the executive branch of the Federal Government causing the export of any agricultural commodity to any country or area of the world to be suspended or restricted, the Secretary of Agriculture shall— "(1) develop a comprehensive contingency plan that shall include— "(A) an assessment of existing farm programs with a view to determining whether such programs are sufficiently flexible to enable the Secretary to efficiently and effectively offset the adverse impact of such a suspension or restriction on farmers, elevator operators, common carriers, and exporters of commodities provided for under such programs; ^ "(B) an evaluation of the kinds and availability of information needed to determine, on an emergency basis, the extent and severity of the impact of such a suspension or restriction on producers, elevator operators, common carriers, and exporters; and "(C) the development of criteria for determining the extent, if any, to which the impact of such a suspension or restriction should be offset in the case of each of the sectors referred to in paragraph (I)(B); "(2) for any suspension or restriction for which compensation is not provided under section 411, prepare and submit to the appropriate Committees of Congress such recommendations for changes in existing agricultural programs, or for new programs, as the Secretary considers necessary to handle effectively, efficiently, economically, and fairly the impact of any such suspension or restriction; "(3) for any suspension or restriction for which compensation is provided under section 411, prepare and submit to the appropriate (Dommittees of Congress a plan for implementing and administering section 411; and "(4) require the Commodity Credit Corporation, prior to such Corporation purchasing any contracts for the purpose of offsetting the impact of a commodity suspension or restriction, to— "(A) prepare an economic justification for each commodity involved in the suspension or restriction to determine if such a purchase is necessary; "(B) estimate any suspension- or restriction-related benefits and detrimental effects to the exporters, and use both estimates in determining the extent, if any. Federal assistance is needed; and "(C) limit its purchases to only those types and grades of commodities suspended or restricted from shipment and make such purchases at prices at or near the current market prices.

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