Page:United States Statutes at Large Volume 110 Part 1.djvu/1139

 PUBLIC LAW 104-127—APR. 4, 1996 110 STAT. 1115 "(g) SPECIFIC POWERS.— TO carry out this subtitle, the Corporation may— "(1) make grants to, and enter into cooperative agreements and contracts with, eligible applicants for research, development, and demonstration projects in accordance with section 1660; "(2) make loans and interest subsidy payments and invest venture capital in accordance with section 1661; "(3) collect and disseminate information concerning State, regional, and local commercialization projects; "(4) search for new nonfood, nonfeed products that may be produced from agricultural commodities and for processes to produce the products; "(5) administer, maintain, and dispense funds from the Fund to facilitate the conduct of activities under this subtitle; and "(6) engage in other activities incident to carrying out the functions of the Corporation.". (b) WHOLLY-OWNED GOVERNMENT CORPORATION.— Section 9101(3) of title 31, United States Code, is amended— (1) by redesignating subparagraph (N) (relating to the Uranium Enrichment Corporation) as subparagraph (O); and (2) by adding at the end the following: "(Q) the Alternative Agricultural Research and Commercialization Corporation.". (c) CONFORMING AMI']NDMENT.—Section 211(b)(5) of the Department of Agriculture Reorganization Act of 1994 (7 U.S.C. 6911(b)(5)) is amended by striking "Alternative Agricultural Research and Commercialization Board" and inserting "Corporate Board of the Alternative Agricultural Research and Commercialization Corporation". SEC. 723. BOARD OF DIRECTORS, EMPLOYEES, AND FACILITIES. (a) IN GENERAL. —Section 1659 of the Food, Agriculture, Conservation, and Trade Act of 1990 (7 U.S.C. 5903) is amended to read as follows: "SEC. 1659. BOARD OF DIRECTORS, EMPLOYEES, AND FACILITIES. "(a) IN GENERAL. —The powers of the Corporation shall be vested in a Corporate Board. "(b) MEMBERS OF THE CORPORATE BOARD.— The Corporate Board shall consist of 11 members as follows: "(1) The Under Secretary of Agriculture for Rural Development. "(2) The Under Secretary of Agriculture for Research, Education, and Economics. "(3) 5 members appointed by the Secretary, of whom— "(A) at least 1 member shall be a representative of the leading scientific disciplines relevant to the activities of the Corporation; "(B) at least 1 member shall be a producer or processor of agricultural commodities; "(C) at least 1 member shall be a person who is privately engaged in the commercialization of new nonfood, nonfeed products from agricultural commodities; and "(D) at least 1 member shall have expertise in financial management.

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