Page:United States Statutes at Large Volume 122.djvu/1522

 12 2 STA T . 1 49 9 PUBLIC LA W 11 0– 2 3 4 —M A Y 22, 200 8inter e s t b e a rin go b l igations o f t h e U nite dS tates .F ors uc h p urpose , such obligations m a y be ac q uired —‘ ‘ ( i ) on original issue at the issue price, or ‘‘(ii) by purchase of outstanding obligations at the mar k et price. ‘‘( B )S ALEOF O B L IG A T IO NS .— A ny obligation acquired by the Agricultural D isaster R elief T rust Fund may be sold by the Secretary of the Treasury at the market price. ‘‘( C ) I NTE R EST ON C ERTAIN P ROCEE D S.—The interest on, and the proceeds from the sale or redemption of, any obligations held in the Agricultural Disaster Relief Trust Fund shall be credited to and form a part of such Trust Fund. ‘‘(d) EX PENDIT U RES FRO M TRUST FUND.—Amounts in the Agri - cultural Disaster Relief Trust Fund shall be a v ailable for the pur- poses of making e x penditures to meet those obligations of the United States incurred under section 901 or section 53 1 of the Federal Crop Insurance Act (as such sections are in effect on the date of the enactment of the Food, Conservation, and Energy Act of 2 00 8 ). ‘‘(e) AUT H ORIT Y TO BORRO W .— ‘‘(1) IN GENERAL.—There are authori z ed to be appropriated, and are appropriated, to the Agricultural Disaster Relief Trust Fund, as repayable advances, such sums as may be necessary to carry out the purposes of such Trust Fund. ‘‘(2) REPAYMENT OF AD V ANCES.— ‘‘(A) IN GENERAL.—Advances made to the Agricultural Disaster Relief Trust Fund shall be repaid, and interest on such advances shall be paid, to the general fund of the Treasury w hen the Secretary determines that moneys are available for such purposes in such Trust Fund. ‘‘(B) RATE OF INTEREST.—Interest on advances made pursuant to this subsection shall be— ‘‘(i) at a rate determined by the Secretary of the Treasury (as of the close of the calendar month pre- ceding the month in which the advance is made) to be equal to the current average market yield on out- standing marketable obligations of the United States with remaining periods to maturity comparable to the anticipated period during which the advance will be outstanding, and ‘‘(ii) compounded annually. ‘ ‘ SEC.903 . JURI S D IC T I ON . ‘‘ L egislation in the Senate of the United States amending sec- tion 901 or 902 shall be referred to the Committee on Finance of the Senate. ’ ’. (b) TRANSITION.—For purposes of the 2008 crop year, the Sec- retary shall carry out subsections (f)( 4 ) and (h) of section 901 of the Trade Act of 19 7 4 (as added by subsection (a)) in accordance with the terms and conditions of sections 1001 through 1001D of the Food Security Act of 1985 (1 6 U.S.C. 1308 et seq.), as in effect on September 30, 2007. (c) CLERICAL AMENDMENT.—The table of contents for the Trade Act of 1974 (19 U.S.C. 2101 et seq.) is amended by adding at the end the following
 * 19USC24

9 7note. 19 USC 2497 b .

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