A prior section 202 of Pub. L. 95–501 enacted section 1707c of this title prior to the complete revision of Pub. L. 95–501 by Pub. L. 101–624.
2014—Subsec. (a). Pub. L. 113–79, § 3101(a)(1), substituted “24-month” for “3-year”.
Subsec. (d). Pub. L. 113–79, § 3101(a)(2), substituted “obligor” for “country”.
Subsecs. (i), (j). Pub. L. 113–79, § 3101(a)(3), (4), redesignated subsecs. (j) and (k) as (i) and (j), respectively, and struck out former subsec. (i) which related to percentages of export credit guarantees issued to promote export of processed or high-value agricultural products in fiscal years 1996 through 2007.
Subsec. (j)(2)(A), (B). Pub. L. 113–79, § 3101(a)(5)(A), (B), redesignated subpars. (C) and (D) as (A) and (B), respectively, and struck out former subpars. (A) and (B) which read as follows:
“(A) maximize the export sales of agricultural commodities;
“(B) maximize the export credit guarantees that are made available and used during the course of a fiscal year;”.
Subsec. (j)(2)(C). Pub. L. 113–79, § 3101(a)(5)(B), (D)(i), redesignated subpar. (E) as (C) and struck out “, but do not exceed,” after “cover”. Former subpar. (C) redesignated (A).
Subsec. (j)(2)(D). Pub. L. 113–79, § 3101(a)(5)(C), (D)(ii), (E), added subpar. (D). Former subpar. (D) redesignated (B).
Subsec. (j)(2)(E). Pub. L. 113–79, § 3101(a)(5)(B), redesignated subpar. (E) as (C).
Subsec. (k). Pub. L. 113–79, § 3101(a)(4), redesignated subsec. (k) as (j).
2008—Subsec. (a). Pub. L. 110–246, § 3101(a)(1), struck out par. (1) designation and heading before “The Commodity” and struck out pars. (2) and (3) which related to supplier credits and extended supplier credits, respectively.
Subsec. (b). Pub. L. 110–246, § 3101(a)(2), (3), redesignated subsec. (d) as (b) and struck out former subsec. (b). Prior to amendment, text read as follows: “Subject to the provisions of subsection (c) of this section, the Commodity Credit Corporation may guarantee the repayment of credit made available by financial institutions in the United States to finance commercial export sales of agricultural commodities, including processed agricultural products and high-value agricultural products, from privately owned stocks on credit terms that are for not less than a 3-year period nor for more than a 10-year period in a manner that will directly benefit United States agricultural producers.”
Subsec. (b)(4). Pub. L. 110–246, § 3101(c)(1), struck out “, consistent with the provisions of subsection (c) of this section” after “appropriate”.
Subsec. (c). Pub. L. 110–246, § 3101(a)(2), (3), redesignated subsec. (e) as (c) and struck out former subsec. (c) which related to requirements for guarantees under former subsec. (b).
Subsec. (d). Pub. L. 110–246, § 3101(c)(2), struck out par. (1) designation and heading before “The Commodity” and struck out par. (2) which related to criteria for the determination required under this subsec. with respect to credit guarantees under former subsec. (b).
Pub. L. 110–246, § 3101(a)(3), redesignated subsec. (f) as (d). Former subsec. (d) redesignated (b).
Subsecs. (e) to (g). Pub. L. 110–246, § 3101(a)(3), redesignated subsecs. (g) to (i) as (e) to (g), respectively. Former subsecs. (e) and (f) redesignated (c) and (d), respectively.
Subsec. (g)(2). Pub. L. 110–246, § 3101(c)(3), substituted “subsection (a)” for “subsections (a) and (b)”.
Subsecs. (h) to (l). Pub. L. 110–246, § 3101(a)(3), (4), redesignated subsecs. (j) to (l) as (h) to (j), respectively, and added subsec. (k). Former subsecs. (h) and (i) redesignated (f) and (g), respectively.
2002—Subsec. (a)(3). Pub. L. 107–171, § 3102(a), added par. (3).
Subsec. (k)(1). Pub. L. 107–171, § 3102(b), substituted “through 2007” for “, 2001, and 2002”.
Subsec. (l). Pub. L. 107–171, § 3102(c), added subsec. (l).
1996—Subsec. (a). Pub. L. 104–127, § 243(a)(1), designated existing provisions as par. (1), inserted heading, and added par. (2).
Subsec. (d)(3)(B). Pub. L. 104–127, § 277(c)(3), substituted “emerging markets” for “emerging democracies”.
Subsec. (f). Pub. L. 104–127, § 243(a)(2), designated existing provisions as par. (1), inserted heading, and added par. (2).
Subsec. (h). Pub. L. 104–127, § 243(a)(3), added subsec. (h) and struck out heading and text of former subsec. (h). Text read as follows: “The Commodity Credit Corporation shall finance or guarantee under this section only United States agricultural commodities. The Commodity Credit Corporation shall not finance or guarantee under this section the value of any foreign agricultural component.”
Subsec. (i). Pub. L. 104–127, § 243(a)(4), designated existing provisions as par. (1), inserted heading, struck out former par. (1) which read as follows: “is not in a sound financial condition;”, redesignated pars. (2) and (3) as subpars. (A) and (B), respectively, of par. (1), and added par. (2).
Subsec. (k). Pub. L. 104–127, § 243(a)(5), added subsec. (k) and struck out heading and text of former subsec. (k). Text read as follows:
“(1)
“(2)
1992—Subsecs. (a), (b). Pub. L. 102–511, § 709(a)(1), inserted “, including processed agricultural products and high-value agricultural products,” after “agricultural commodities”.
Subsec. (c). Pub. L. 102–511, § 708(a), inserted sentence at end.
Subsec. (d)(3). Pub. L. 102–511, § 708(b), amended par. (3) generally. Prior to amendment, par. (3) read as follows: “to assist countries, particularly developing countries, in meeting their food and fiber needs; and”.
Subsec. (k). Pub. L. 102–511, § 709(a)(2), added subsec. (k).
1991—Subsec. (i). Pub. L. 102–237 substituted “issued by the Commodity Credit Corporation under this section if it is determined by the Corporation, at the time of the assignment, that” for “or proceeds payable under a credit guarantee issued by the Commodity Credit Corporation under this section if it is determined by the Corporation that”.
Committee on International Relations of House of Representatives changed to Committee on Foreign Affairs of House of Representatives by House Resolution No. 6, One Hundred Tenth Congress,
Amendment by Pub. L. 110–246 effective
Pub. L. 104–127, title II, § 243(d),
Pub. L. 101–624, title XV, § 1542, “(a) The Commodity Credit Corporation shall make available for fiscal years 1996 through 2023 not less than $1,000,000,000 of direct credits or export credit guarantees for exports to emerging markets under section 201 or 202 of the Agricultural Trade Act of 1978 (7 U.S.C. 5621 and 5622), in addition to the amounts acquired or authorized under section 211 of the Act (7 U.S.C. 5641) for the program.“(b) “(1) A portion of such export credit guarantees shall be made available for—“(A) the establishment or improvement of facilities, or“(B) the provision of services or United States produced goods,in emerging markets by United States persons to improve handling, marketing, processing, storage, or distribution of imported agricultural commodities and products thereof if the Secretary of Agriculture determines that such guarantees will primarily promote the export of United States agricultural commodities (as defined in section 102(7) of the Agricultural Trade Act of 1978 [7 U.S.C. 5602(7)]).“(2) The Commodity Credit Corporation shall give priority under this subsection to—“(A) projects that encourage the privatization of the agricultural sector or that benefit private farms or cooperatives in emerging markets; and“(B) projects for which nongovernmental persons agree to assume a relatively larger share of the costs.“(3) The Secretary may waive any applicable requirements relating to the use of United States goods in the construction of a proposed facility, if the Secretary determines that—“(A) goods from the United States are not available; or“(B) the use of goods from the United States is not practicable.“(4) A facility payment guarantee under this subsection shall be for a term that is not more than the lesser of—“(A) the term of the depreciation schedule of the facility assisted; or“(B) 20 years.“(c) Before the authority under this section is exercised, the Secretary of Agriculture shall consult with exporters of United States agricultural commodities (as defined in section 102(7) of the Agricultural Trade Act of 1978 [7 U.S.C. 5602(7)]), nongovernmental experts, and other Federal Government agencies in order to ensure that facilities in an emerging market for which financing is guaranteed under paragraph (1)(B) do not primarily benefit countries which are in close geographic proximity to that emerging market.“(d) In carrying out the program described in subsection (a), the Secretary of Agriculture shall ensure that the credits for which repayment is guaranteed under subsection (a) do not negatively affect the political and economic situation in emerging markets by excessively adding to the foreign debt burdens of such countries.“(e) In this section and section 1543 [7 U.S.C. 3293], the term ‘emerging market’ means any country, foreign territory, customs union, or other economic market that the Secretary determines—“(1) is taking steps toward a market-oriented economy through the food, agriculture, or rural business sectors of its economy; and“(2) has the potential to provide a viable and significant market for United States agricultural commodities or products of United States agricultural commodities.”
Determination of President of the United States, No. 95–35,
Pursuant to the authority vested in me by section 1542(f) of the Food, Agriculture, Conservation and Trade Act of 1990, as amended (7 U.S.C. 5622 note) (hereinafter “the Act”), I hereby determine that the following countries are taking the steps set forth in section 1542(f) of the Act to qualify as emerging democracies for purposes of that section:
Albania, Bangladesh, Belarus, Bosnia and Herzegovina, Bulgaria, Cambodia, Croatia, Czech Republic, Egypt, El Salvador, Estonia, the Former Yugoslav Republic of Macedonia, Ghana, Guatemala, Hungary, Jordan, Kazakhstan, Latvia, Lithuania, Morocco, Namibia, Nicaragua, Pakistan, Panama, the Philippines, Poland, Romania, Russia, Slovak Republic, Slovenia, South Africa, Tanzania, Tunisia, Ukraine, Yemen, and Zimbabwe.
In making this determination, I have considered the eligibility only of those countries for which programs are underway or currently contemplated by the Department of Agriculture.
The Secretary of State is authorized and directed to publish this determination in the Federal Register.