Page:United States Statutes at Large Volume 118.djvu/1565

 118 STAT. 1535 PUBLIC LAW 108–357—OCT. 22, 2004 1, 1445–2) (referred to in this section as an ‘‘association’’), loan pool stocks for each kind of tobacco held by the association shall be disposed of in accordance with this section. (b) DISPOSAL BY ASSOCIATIONS.—For each kind of tobacco held by an association, the association shall be responsible for the dis posal of a specific quantity of the loan pool stocks for that kind of tobacco held by the association. The quantity transferred to the association for disposal shall be equal to the quantity deter mined by dividing— (1) the amount of funds held by the association in the No Net Cost Tobacco Fund and the No Net Cost Tobacco Account established under sections 106A and 106B of the Agri cultural Act of 1949 (7 U.S.C. 1445–1, 1445–2) for the kind of tobacco; by (2) the average list price per pound for the kind of tobacco, as determined by the Secretary. (c) DISPOSAL OF REMAINDER BY COMMODITY CREDIT CORPORA TION.— (1) DISPOSAL.—Any loan pool stocks of a kind of tobacco of an association that are not transferred to the association under subsection (b) for disposal shall be disposed of by Com modity Credit Corporation in a manner determined by the Secretary. (2) REIMBURSEMENT.—As required by section 626(b)(1)(B), the Secretary shall transfer from the Tobacco Trust Fund to the No Net Cost Tobacco Fund or the No Net Cost Tobacco Account of an association established under section 106A or 106B of the Agricultural Act of 1949 (7 U.S.C. 1445–1, 1445– 2) such amounts as the Secretary determines will be adequate to reimburse the Commodity Credit Corporation for any net losses that the Corporation may sustain under its loan agree ments with the association. (d) TRANSFER OF REMAINING NO NET COST FUNDS.—Any funds in the No Net Cost Tobacco Fund or the No Net Cost Tobacco Account of an association established under sections 106A and 106B of the Agricultural Act of 1949 (7 U.S.C. 1445–1, 1445– 2) that remain after the application of subsections (b) and (c) shall be transferred to the association for distribution to producers of quota tobacco in accordance with a plan approved by the Sec retary. SEC. 642. REGULATIONS. (a) IN GENERAL.—The Secretary may promulgate such regula tions as are necessary to implement this title and the amendments made by this title. (b) PROCEDURE.—The promulgation of the regulations and administration of this title and the amendments made by this title shall be made without regard to— (1) the notice and comment provisions of section 553 of title 5, United States Code; (2) the Statement of Policy of the Secretary of Agriculture effective July 24, 1971 (36 Fed. Reg. 13804), relating to notices of proposed rulemaking and public participation in rulemaking; and (3) chapter 35 of title 44, United States Code (commonly known as the ‘‘Paperwork Reduction Act’’). 7 USC 519a.

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