Page:United States Statutes at Large Volume 110 Part 1.djvu/1144

 110 STAT. 1120 PUBLIC LAW 104-127—APR. 4, 1996 (B) by striking paragraphs (3) and (4) and inserting the following: "(3) RECOMMENDATION.—The Regional Director, based on the comments of the reviewers, shall make and submit a recommendation to the Board, which shall not be binding on the Board.". SEC. 728. ALTERNATIVE AGRICULTURAL RESEARCH AND COMMER- CIALIZATION REVOLVING FUND. Section 1664 of the Food, Agriculture, Conservation, and Trade Act of 1990 (7 U.S.C. 5908) is amended to read as follows: "SEC. 1664. ALTERNATIVE AGRICULTURAL RESEARCH AND COMMER- CIALIZATION REVOLVING FUND. " (a) ESTABLISHMENT.— There is established in the Treasury of the United States a revolving fund to be known as the Alternative Agricultural Research and Commercialization Revolving Fund. The Fund shall be available to the Corporation, without fiscal year limitation, to carry out this subtitle. "(b) CONTENTS OF FUND. — There shall be deposited in the Fund— "(1) such amounts as may be appropriated or transferred to support programs and activities of the Corporation; "(2) payments received from any source for products, services, or property furnished in connection with the activities of the Corporation; "(3) fees and royalties collected by the Corporation from licensing or other arrangements relating to commercialization of products developed through projects funded in whole or part by grants, contracts, or cooperative agreements executed by the Corporation; "(4) proceeds from the sale of assets, loans, and equity interests made in furtherance of the purposes of the Corporation; "(5) donations or contributions accepted by the Corporation to support authorized programs and activities; and "(6) any other funds acquired by the Corporation. "(c) FUNDING ALLOCATIONS. — Funding of projects and activities under this subtitle shall be subject to the following restrictions: "(1) Of the total amount of funds made available for a fiscal year under this subtitle— "(A) not more than the lesser of 15 percent or $3,000,000 may be set aside to be used for authorized administrative expenses of the Corporation; "(B) not more than 1 percent may be set aside to be used for generic studies and specific reviews of individual proposals for financial assistance; and "(C) except as provided in subsection (e), not less than 84 percent shall be set aside to be awarded to qualified applicants who file project applications with, or respond to requests for proposals from, the Corporation under sections 1660 and 1661. "(2) Any funds remaining uncommitted at the end of a fiscal year shall be credited to the Fund and added to the total program funds available to the Corporation for the next fiscal year. "(d) AUTHORIZED ADMINISTRATIVE EXPENSES.— For the purposes of this section, authorized administrative expenses shall include

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