Pub. L. 87-128, tit. II, sec. 201

Sec. 201. Title I of the Agricultural Trade Development and Assistance Act of 1954, as amended, is further amended as follows: (1) Section 101 is amended by adding at the end thereof a new subsection to read as follows: “(f) obtain rates of exchange applicable to the sales of commodities under such agreements which are not less favorable than the rates at which United States Government agencies can buy currencies from the United States disbursing officers in the respective countries.” (2) Effective January 1, 1962, section 103(b) is amended to read as follows: “(b) Agreements shall not be entered into under this title during the period beginning January 1, 1962, and ending December 31, 1964, which will call for appropriations to reimburse the Commodity Credit Corporation in a total amount in excess of $4,500,000,000: Provided, That agreements shall not be entered into during any calendar year of such period which will call for appropriations to reimburse Commodity Credit Corporation in amounts in excess of $2,500,000,000.” (3) Section 104 is amended— (a) by inserting after the words “foreign currencies” in the introductory clause, the following: “, including principal and interest from loan repayments,”; (b) by striking out in the final proviso in such section the language beginning with the words “for the purpose” and ending with the words “specified in” and inserting in lieu thereof the words “pursuant to”; (c) by adding after subsection (r) the following new subsection (s): “(s) For the sale for dollars to American tourists under such terms and conditions as the President may prescribe;”; (d) by inserting in the second sentence of subsection (a) after the word “made” where it first appears the words “each year” and after the word “be” where it first appears the words “set aside in the amounts and kinds of foreign currencies specified by the Secretary of Agriculture and”; and by striking out from the third sentence of subsection (a) the words “Particular regard shall be given to provide” and inserting in lieu thereof the words “Provision shall be made”; and by striking out from the third sentence of subsection (a) the word “may” and inserting in lieu thereof the words “the Secretary of Agriculture determines to”; and by inserting in the third sentence after the word “thereof” the following: “(not less than 2 per centum)”; and by inserting after the third sentence a new sentence as follows: “Such sums shall be converted into the types and kinds of foreign currencies as the Secretary deems necessary to carry out the provisions of this subsection and such sums shall be deposited to a special Treasury account and shall not be made available or expended except for carrying out the provisions of this subsection”; and by striking out from the last sentence of subsection (a) 75 Stat. 307 the words “agreements may be entered into” and by inserting in lieu thereof “the Secretary of Agriculture is authorized and directed to enter into agreements”. (4) The first sentence of section 106 is amended by striking out “or may reasonably be expected to be” and inserting “at the time of exportation or donation”. (5) Section 109 is amended by striking out “1961” and substituting “1964”