A bill to provide for the orderly disposal of certain agricultural commodities acquired by the Department of Agriculture in 1980; to establish an Agricultural Export Revolving Fund to be financed by the proceeds from that disposal; to authorize funds; and for other purposes.

Summary

Directs the Secretary of Agriculture to sell the agricultural commodities which the Department of Agriculture bought because of the 1980 trade embargo against the Soviet Union. Sets forth the manner of making such sales. Requires using the sales proceeds to capitalize the Agricultural Export Credit Revolving Fund. Amends the Food for Peace Act of 1967 to establish the Fund in the U.S. Treasury. Authorizes the Commodity Credit Corporation to use the Fund to finance: (1) certain export sales of agricultural commodities; (2) export sales of breeding animals; and (3) facilities in importing countries to handle U.S. agricultural exports. Limits the Corporation's use of the Fund to extending credit to develop markets where there is a substantial potential for regular commercial markets for U.S. agricultural commodities. Directs the Secretary to ensure the equitable use of the Fund to finance sales to the greatest feasible number of countries. Adds to the Fund certain payments received by the Corporation. Directs the Secretary to report annually to Congress on the Corporation's use of the Fund to carry out export credit sales. Terminates the Fund on October 1, 1985.

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1 official file

• Introduced in House

  summary · EN · 17 July 1981

  Open at official source

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