Page:United States Statutes at Large Volume 99 Part 2.djvu/381

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PUBLIC LAW 99-198—DEC. 23, 1985

99 STAT. 1491

not apply to any export activities of the Secretary of Agriculture or the Commodity Credit Corporation— "(1) under which agricultural commodities or the products thereof acquired by the Commodity Credit Corporation are made available to United States exporters, users, processors, or foreign purchasers for the purpose of developing, maintaining, or expanding export markets for United Stat^ agricultural commodities or the products thereof at prevailing world market prices; "(2) under which payments are made available to United Stat^ exporters, users, or processors or, except as provided in section 901b, cash grants are made available to foreign purchasers, for the purpose described in paragraph (1); "(3) under which commercial credit guarantees are blended with direct credits from the Commodity Credit Corporation to reduce the effective rate of interest on export sales of United States agricultural commodities or the products thereof; "(4) under which credit or credit guarantees for not to exceed 3 years are extended by the Commodity Credit Corporation to finance or guarantee export sales of United States agricultural commodities or the products thereof; or "(5) under which agricultural commodities or the products thereof owned or controlled by or under loan from the Commodity Credit Corporation are exchanged or bartered for materials, goods, equipment, or services, but only if such materials, goods, equipment, or services are of a value at least equivalent to the value of the agricultural commodities or products exchanged or bartered therefor (determined on the basis of prevailing world market prices at the time of the exchange or barter), but nothing in this subsection shall be construed to exempt from the cargo preference provisions referred to in section 901b any requirement otherwise applicable to the materials, goods, equipment, or services imported under any such transaction.

Grants. Infra.

Loans. Prohibition.

SHIPME>rr REQUIREMENTS FOR CERTAIN EXPORTS SPONSORED BY THE DEPARTMENT OF AGRICULTURE

"SEC. 901b. (a)(1) In addition to the requirement for United Statesflag carriage of a percentage of gross tonnage imposed by section 901(b)(l) of this Act, 25 percent of the gross tonnage of agricultural commodities or the products thereof specified in subsection (b) shall be transported on United States-flag commercial vessels. "(2) In order to achieve an orderly and efficient implementation of the requirement of paragraph (1)— (A) an additions^ quantity equal to 10 percent of the gross tonnage referred to in paragraph (1) shall be transported in United States-flag vessels in calendar year 1986; "(B) an additional quantity equal to 20 percent of the gross tonnage shall be transported in such vessels in calendar year 1987; and '\C) an additional quantity equal to 25 percent of the gross tonnage shall be transported in such vessels in calendar year 1988 and in each calendar year thereafter. "(b) This section shall apply to any export activity of the Commodity Credit Corporation or the Secretary of Agriculture— "(1) carried out under the Agricultural Trade Development and Assistance Act of 1954 (7 U.S.C. 1691 et seq.);

Vessels. 46 USC app. 1241f. 7 USC 1241.

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