Sec. 1542. PROMOTION OF AGRICULTURAL EXPORTS TO EMERGING MARKETS
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## SEC. 1542 PROMOTION OF AGRICULTURAL EXPORTS TO EMERGING MARKETS **[**[7 U.S.C. 5622 note](/us/usc/t7/s5622)**]** ###
(a)Funding 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)Facilities and Services ####
(1)In general 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 products 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). ####
(2)Priority 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)Construction waiver 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)Term of guarantee 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)Consultations 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), 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 democracy. ###
(d)Foreign Debt Burdens 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)Emerging Market In this section and section 1543, 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.
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