Page:United States Statutes at Large Volume 94 Part 3.djvu/460

 94 STAT. 3104

PUBLIC LAW 96-528—DEC. 15, 1980

current fiscal year for such corporation or agency, except as hereinafter provided: FEDERAL CROP INSURANCE CORPORATION ADMINISTRATIVE AND OPERATING EXPENSES

For administrative and operating expenses, $29,558,000. COMMODITY CREDIT CORPORATION REIMBURSEMENT FOR NET REALIZED LOSSES

To reimburse the Commodity Credit Corporation for net reaUzed losses sustained in prior years, but not previously reimbursed, pursuant to the Act of August 17, 1961 (15 U.S.C. 713a-ll, 713a-12), $3,299,887,000. LIMITATION ON ADMINISTRATIVE EXPENSES 15 USC 713a-10.

Reporting. Reports to congressional committees.

7 USC 1707a, 1707b.

31 USC 665. Land acquisition.

Not to exceed $52,750,000 shall be available for administrative expenses of the Commodity Credit Corporation: Provided, That this authorization shall be available to support the General Sales Manager who shall work to expand and strengthen sales of U.S. commodities in world markets (including those of the Corporation) pursuant to existing authority (including that contained in the Corporation's charter), and that such funds shall be used by the General Sales Manager to carry out the above activities. The General Sales Manager shall report directly to the Board of Directors of the Corporation of which the Secretary of Agriculture is a member. The General Sales Manager shall obtain, assimilate, and analyze all available information on developments related to private sales, as well as those funded by the Corporation, including grade and quality as sold and as delivered, including information relating to the effectiveness of greater reliance by the General Sales Manager upon loan guarantees as contrasted to direct loans for financing commercial export sales of agricultural commodities out of private stocks on credit terms, as provided in titles I and II of the Agricultural Trade Act of 1978, Public Law 95-501 and shall submit quarterly reports to the appropriate committees of Congress concerning such developments: Provided further. That none of the funds in this Act may be used to carry out an Export Credit Sales program in excess of $2,200,000,000 in fiscal year 1981: Provided further, That not less than 7 per centum of this authorization shall be placed in reserve to be apportioned pursuant to section 3679 of the Revised Statutes, as amended, for use only in such amounts and at such times as may become necessary to carry out program operations: Provided further. That all necessary expenses (including legal and special services performed on a contract or fee basis, but not including other personal services) in connection with the acquisition, operation, maintenance, improvement, or disposition of any real or personal property belonging to the Corporation or in which it has an interest, including expenses of collections of pledged collateral, shall be considered as nonadministrative expenses for the purposes hereof: Provided further. That none of the funds in this Act may be used to carry out a program of loan guarantees by the Corporation for the production and marketing of industrial hydrocarbons and alcohols from agricultural commodities and forest products in excess of $500,000,000.

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