Page:United States Statutes at Large Volume 116 Part 1.djvu/465

 PUBLIC LAW 107-171—MAY 13, 2002 116 STAT. 439 "(A) IN GENERAL.— The balance of any annual funds provided to an eligible institution for a fiscal year under this section that remains unexpended at the end of the fiscal year may be carried over for use during the following fiscal year. "(B) FAILURE TO EXPEND FULL AMOUNT.— "(i) IN GENERAL. — If any unexpended balance carried over by an eligible institution is not expended by the end of the second fiscal year, an amount equal to the unexpended balance shall be deducted from the next succeeding annual allotment to the eligible institution. "(ii) REDISTRIBUTION. — Federal funds that are deducted under clause (i) for a fiscal year shall be redistributed by the Secretary in accordance with the formula set forth in subsection (b)(2)(B) to those eligible institutions for which no deduction under clause (i) has been taken for that fiscal year.". SEC. 7205. INITIATIVE FOR FUTURE AGRICULTURE AND FOOD SYS- TEMS. (a) FUNDING.— Section 401(b) of the Agricultural Research, Extension, and Education Reform Act of 1998 (7 U.S.C. 7621(b)) is amended— (1) in paragraph (1), by striking "2002" and inserting "2001"; and (2) by adding at the end the following: "(3) OTHER FUNDING. — Out of funds in the Commodity Credit Corporation, the Secretary shall transfer to the Account— "(A) on October 1, 2003, $120,000,000; "(B) on October 1, 2004, $140,000,000; "(C) on October 1, 2005, $160,000,000; and "(D) on October 1, 2006, and each October 1 thereafter, $200,000,000.". (2) by amending subsection (c)(1) to read as follows: "(1) CRITICAL EMERGING AGRICULTURAL AND RURAL ISSUES. — The Secretary shall use the funds in the Account for research, extension, and education grants (referred to in this section as 'grants') to address critical emerging agricultural and rural issues related to— " (A) future food production; "(B) environmental quality and natural resource management; "(C) farm income; or "(D) rural economic and business and community development policy."; and (3) in subsection (e)(1), by striking "small and mid-sized" and inserting "small, mid-sized, and minority-serving". SEC. 7206. ELIGIBILITY FOR INTEGRATED GRANTS PROGRAM. Section 406(b) of the Agricultural Research, Extension, and Education Reform Act of 1998 (7 U.S.C. 7626(b)) is amended by inserting "gmd 1994 Institutions" before "on a competitive basis".

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