Page:United States Statutes at Large Volume 95.djvu/396

 95 STAT. 370

Notification to congressional committees.

7 USC 624.

Effective date.

Notification to congressional committees.

PUBLIC LAW 97-35—AUG. 13, 1981 In no event shall the support price be less than the dollar amount of the support price then currently in effect for milk: Provided, That if the Secretary determines that the inventory of dairy products, at the end of the marketing year, exceeds five hundred million pounds of nonfat dry milk or five and one-half billion pounds milk equivalent of butter and cheese, the support price for the next marketing year shall be established at the minimum level indicated by this schedule based upon estimated Government price support purchases net of sales for unrestricted use for suchvear. The Secretary shall notify, in writing, the chairman of the Innate Committee on Agriculture, Nutrition, and Forestry and the chairman of the House Committee on Agriculture of the Secretary's decision and reasons therefor thirty days prior to the effective date of the new support level. Notwithstanding the foregoing, if during any marketing year dairy product imports into the United States are incrased as the result of an expansion of imports or termination of import restraints established pursuant to section 22 of the Agricultural Adjustment Act, the support price shall be redetermined by reducing the final estimate of net Government purchases by the milk equivalent (butterfat bsisis) of dairv products or nonfat dry milk or its equivalent of other products derived from such increased imports. The increased support price so determined shall become effective simultaneously with the announcement of the expansion of dairy product imports. A similar reduction in the net Government purchases for the marketing year in which the imports are entered into the United States shall be made when determining the support price level for subsequent years."; and (2) inserting a new subsection (d) as follows: "(d) Effective for the period beginning October 1, 1982, and ending on September 30, 1985, the support price of milk shall be adjusted by the Secretary at the beginning of each semiannual period to reflect any estimated change in the parity index during said semiannual period. If a review of net Government purchases as provided for in subsection (c) indicates that purchases during the most recent sixmonth period are being made at an annual rate exceeding five and one-half billion poun(& milk equivalent (butterfat basis), or five hundred million pounds of nonfat dry milk, the support price of milk need not be adjusted unless such adjustment is necessary to prevent a support price at less than 75 per centum of parity as determined at the beginning of the semiannual period. The Secretary shall notify, in writing, the chairman of the Senate Committee on Agriculture, Nutrition, and Forestry and the chairman of the House Committee on Agriculture of the Secretary's decision and the reasons therefor thirty days prior to the effective date of such semiannual ac^ustment.". FARM STORAGE FACILITY LOANS

SEC. 151. Section 4(h) of the Commodity Credit Corporation Charter Act (15 U.S.C. 714b(h)) is amended by striking out from the fourth proviso of the second sentence "shall make loans" and inserting in lieu thereof "may make loans". REDUCTION IN CCC ADMINISTRATIVE EXPENSE LIMITATION

15 USC 7i3a-io.

SEC. 152. Not to excoed $52,000,000 shall be available for the fiscal year ending September 30, 1982, for administrative expenses of the Commodity Credit Corporation, within the limits of funds and bor-

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