Page:United States Statutes at Large Volume 106 Part 4.djvu/775

 PUBLIC LAW 102-532—OCT. 27, 1992 106 STAT. 3511 Corporation shall make an adjustment in its accounts to reflect such sale, reduction, or cancellation. "(g) 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. "(h) DEPOSIT OF PROCEEDS.— The proceeds from the sale, reduction, or cancellation of qualified debt pursuant to this section shall be deposited in the United States Government account or accounts established for the repayment of such debt. "(i) ELIGIBLE DEBT SWAPS. —^AS used in this section, the term 'eligible debt swap' means a debt-for-development swap or debtfor-nature swap. "SEC. 618. NOTIFICATION TO CONGRESSIONAL COMMITTEES. 7 USC 1738q. "(a) NOTICE OF NECSOTIATIONS.—The Secretary of State and the Secretary of the Treasury shall, in every feasible instance, notify the designated congressional committees not less than 15 days prior to any formal negotiation for debt relief under this title. "(b) TRANSMITTAL OF TEXT OF AGREEMENTS.— The Secretary of State shall transmit to the designated congressional committees a copy of the text of any agreement with any foreign government which would result in any debt relief under this title no less than 30 days prior to its entry into force, together with a detailed justification of the interest of the United States in the proposed debt relief. "(c) ANNUAL REPORT. — The Secretary of State or the Secretary of the Treasury, as appropriate, shall submit to the designated congressional committees not later than February 1 of each year a consolidated statement of the budgetary implications of all debt relief agreements entered into force under this title during the preceding fiscal year. "(d) DESIGNATED CONGRESSIONAL COMMITTEES. —AS used in this section, the term 'designated congressional committees' means the Committee on Agriculture and the Committee on Foreign Affairs of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate. "SEC. 619. DEFINITION OF QUALIFIED DEBT. 7 USC 1738r. "As used in sections 616, 617, and 618, the term 'qualified debt' means any obligation, or portion of such obligation, of an eligible country to pay for purchases of United States agriciiltural commodities guaranteed by the Commodity Credit Corporation under export credit guarantee programs authorized pursuant to section 5(f) of the Commodity Credit Corporation Charter Act or section 4(b) of the Food for Peace Act of 1966— "(1) in which the Commodity Credit Corporation obtained a legal right or interest, as a result of assignment or subrogation, not later than September 1, 1992; and "(2) the payment of which obligation has been, not later than September 1, 1992, rescheduled in accordance with principles set forth in an Agreed Minute of the Paris Club. Such term includes the obligation to pay any interest which was due or accrued not later than September 1, 1992, and unpaid as of the date of a debt sale pursuant to section 616 or a debt sale, reduction, or cancellation pursuant to section 617 (as the case may be).".

�