Page:United States Statutes at Large Volume 106 Part 4.djvu/773

 PUBLIC LAW 102-532—OCT. 27, 1992 106 STAT. 3509 Public Law 102-532 102d Congress An Act To amend the Agricultural Trade Development and Assistance Act of 1954 to authorize additional functions within the Enterprise for the Americas Initiative, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the 'Enterprise for the Americas Initiative Act of 1992". SEC. 2. GOOD NEIGHBOR ENVIRONMENTAL ACT OF 1992. Title VI of the Agricultural Trade Development and Assistance Act of 1954 (7 U.S.C. 1738 and following) is amended by adding at the end the following new sections: 'nSEC. 616. SALE OF QUALIFIED DEBT TO ELIGIBLE COUNTRIES. Oct. 27, 1992 [H.R. 4059] Enterprise for the Americas Initiative Act of 1992 7 USC 1691 note. 7 USC 1638o. "(a) IN GENERAL. — " (1) AUTHORIZATION. — The President may sell to an eligible country up to 40 percent of such countr/s qualified debt, only if an amount of the local currency of such country (other than the price paid for the debt) equal to— "(A) not less than 40 percent of the price paid for such debt by such eligible country, or "(B) the difference between the price paid for such debt and the face value of such debt; whichever is less, is used by such country through an Environmental Fund for eligible activities described in section 612. "(2) ENVIRONMENTAL FUNDS.— For purposes of this section, the term 'Environmental Fund' means an Environmental Fund established under section 608. In the case of Mexico, such fund may be designated as the Good Neighbor Environmental Fund for the Border. "(3) ESTABLISHMENT AND OPERATION OF ENVIRONMENTAL FUNDS. —The President should advise eligible countries on the procedures required to establish and operate the Environmental Funds required to be established under paragraph (1). "(b) TERMS AND CONDITIONS. —The President shall establish President, the terms and conditions, including the amount to be paid by the eligible country, under which such country's qualified debt may be sold under this section. "(c) APPROPRIATIONS REQUIREMENT. —The authorities provided by this section may be exercised only in such amounts and to such extent as is provided in advance in appropriations Acts. "(d) CERTAIN PROHIBITIONS INAPPLICABLE.— A sale of debt under this section shall not be considered assistance for purposes of any provision of law limiting assistance to a country. "(e) IMPLEMENTATION BY THE FACILITY. —A sale of debt authorized under this section shall be accomplished at the direction of the Facility. The Facility shall direct the Commodity Credit Cor-

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