Page:United States Statutes at Large Volume 99 Part 2.djvu/376

 PUBLIC LAW 99-198—DEC. 23, 1985

99 STAT. 1486 < if

7 USC 1431.

Report.

PILOT BARTER PROGRAM FOR EXCHANGE OF AGRICULTURAL COMMODITIES FOR STRATEGIC MATERIALS

SEC. 1129. Section 416 of the Agricultural Act of 1949 is amended by adding at the end thereof the following: "(d)(1) The Secretary shall establish and carry out a pilot program under which strategic or other materials that the United States does not produce domestically in amounts sufficient for its requirements and for which national stockpile or reserve goals established by law are unmet shall be acquired in exchange for commodities meeting the criteria specified in subsection (a). "(2) The program established \inder paragraph (1) shall be carried out through agreements with at least two countries. "(3) In establishing the pilot program under paragraph (2), the Secretary shall give priority to— ''(A) the acquisition of materials that involve less risk of loss through deterioration and have lower storage costs than the agricultural commodities or products for which they are exchanged; and "(B) nations with food and currency reserve shortages. "(4) To the extent practical, the Secretary shall use private channels of commerce to consummate any exchange of commodities for materials under the program. "(5) Any materials acquired under the programs shall be held by the Commodity Credit Corporation and may be transferred, on a reimbursable basis, to any Department or agency of the United States that has responsibility for any reserve or other need for the material. Any material acquired, in excess of any required reserve, may be sold by the Corporation to the extent authorized by the Secretary taking into consideration any effect that such sale may have on the commercial market of such material. "(6) The program established by the Secretary shall be carried out during the fiscal years ending September 30, 1986, and September 30, 1987, and the Secretary shall submit a report to Congress, not later than 60 days after the end of each such fiscal year with respect to the operation of the program.". AGRICULTURAL EXPORT CREDIT REVOLVING FUND

SEC. 1130. Section 4(d)(6) of the Food for Peace Act of 1966 (7 U.S.C. 1707a(d)(6)) is amended by striking out "1985" both places it appears and inserting in lieu thereof "1990". INTERMEDIATE EXPORT CREDIT

Loans.

SEC. 1131. Section 4(b) of the Food for Peace Act of 1966 (7 U.S.C. 1707a(b)) is amended— (1) by adding at the end of paragraph (1) the following new sentence: "In addition, the Corporation may guarantee the repayment of lo€uis made to finance such sales.; (2) in paragraph (2)— (A) by inserting ", and no loan may be guaranteed," after "financed"; (B) by striking out "or" at the end of clause (A); • (C) by striking out the period at the end of clause (B) and inserting in lieu thereof; or"; and (D) by inserting at the end thereof the following new clause: '

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