Commodity Credit Corporation

Commodity Credit Corporation reimbursement for net realized losses To partially reimburse the Commodity Credit Corporation for net realized losses sustained during the fiscal year ending June 30, 1963, pursuant to the Act of August 17, 1961 (15 U.S.C. 713a–11, 713a–12), $1,574,000,000. limitation on administrative expenses Nothing in this Act shall be so construed as to prevent the Commodity Credit Corporation from carrying out any activity or any program authorized by law: Provided, That not to exceed $37,351,000 shall be available for administrative expenses of the Corporation: Provided further, That $945,000 of this authorization shall be avail-78 Stat. 875able only to expand and strengthen the sales program of the Corporation pursuant to authority contained in the Corporation’s charter: Provided further, That not less than 7 per centum of this authorization shall be placed in reserve to be apportioned pursuant to section 3679 of the Revised Statutes, as amended, for use only in such amounts and at such times as may become necessary to carry out program operations: Provided further, That all necessary expenses (including legal and special services performed on a contract or fee basis, but not including other personal services) in connection with the acquisition, operation, maintenance, improvement, or disposition of any real or personal property belonging to the Corporation or in which it has an interest, including expenses of collections of pledged collateral, shall be considered as nonadministrative expenses for the purposes hereof: Provided further, That no part of the administrative funds authorized under this head or of the capital funds of the Commodity Credit Corporation shall be available to formulate or administer a cotton loan program during fiscal year 1965 which requires that micronaire readings shall be mandatory as a part of the cotton classing in connection with cotton loans.