Sec. 3007. Limitation on total volume of commodities monetized
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Section 403 of the Food for Peace Act ( 7 U.S.C. 1733 ) is amended by adding at the end the following: Unless the Administrator grants a waiver under paragraph (2), no commodity may be made available under this Act unless the rate of return for the commodity (as determined under subparagraph (B)) is at least 70 percent. For purposes of subparagraph (A), the rate of return shall be equal to the proportion that— the proceeds the implementing partners generate through monetization; bears to the cost to the Federal Government to procure and ship the commodities to a recipient country for monetization. The Administrator may waive the application of the limitation in paragraph
(1)with regard to a commodity for a recipient country if the Administrator determines that it is necessary to achieve the purposes of this Act in the recipient country. Not later than 90 days after a waiver is granted under paragraph (2), the Administrator shall prepare, publish in the Federal Register, and submit to the Committees on Foreign Affairs, Agriculture, and Appropriations of the House of Representatives, and the Committees on Appropriations, Foreign Relations, and Agriculture, Nutrition, and Forestry of the Senate a report that— contains the reasons for granting the waiver and the actual rate of return for the commodity; and includes for the commodity the costs of bagging or further processing, ocean transportation, inland transportation in the recipient country, storage costs, and any other information that the Administrator determines to be necessary. .
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Sec. 3007
Limitation on total volume of commodities monetized
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