Page:United States Statutes at Large Volume 118.djvu/1249

 118 STAT. 1219 PUBLIC LAW 108–323—OCT. 6, 2004 LEGISLATIVE HISTORY—H.R. 4654: HOUSE REPORTS: No. 108–603 (Comm. on International Relations). CONGRESSIONAL RECORD, Vol. 150 (2004): Sept. 7, considered and passed House. Sept. 28, considered and passed Senate. local currency of the beneficiary country and deposited in the Trop ical Forest Fund of the country in the same manner as the provi sions relating to payment of interest on new obligations under section 706 of this Act.’’. (b) AUTHORITY UNDER TITLE I OF THE AGRICULTURAL TRADE DEVELOPMENT AND ASSISTANCE ACT OF 1954.—Section 807(c) of the Tropical Forest Conservation Act of 1998 (22 U.S.C. 2431e(c)) is amended— (1) in the matter preceding paragraph (1), by striking ‘‘The following’’ and inserting ‘‘(1) The following’’; (2) by redesignating paragraphs (1) and (2) as subpara graphs (A) and (B), respectively; and (3) by adding at the end the following: ‘‘(2) In addition to the application of the provisions relating to repayment of principal under section 605 of the Agricultural Trade Development and Assistance Act of 1954 to the reduction of debt under subsection (a)(1) (in accordance with paragraph (1)(A) of this subsection), repayment of principal on a new obligation established under subsection (b) may be made in the local currency of the beneficiary country and deposited in the Tropical Forest Fund of the country in the same manner as the provisions relating to payment of interest on new obligations under section 606 of such Act.’’. (c) CONFORMING AMENDMENT.—Section 810(a) of the Tropical Forest Conservation Act of 1998 (22 U.S.C. 2431h(a)) is amended by inserting ‘‘and principal’’ after ‘‘interest’’. Approved October 6, 2004.

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