CORPORATIONS

CORPORATIONS The following corporations and agencies are hereby authorized to make such expenditures, within the limits of funds and borrowing authority available to each such corporation or agency and in accord with law, and to make such contracts and commitments without regard to fiscal year limitations as provided by section 104 of the Government Corporation Control Act, as amended, as may be necessary in carrying out the programs set forth in the budget for the current fiscal year for such corporation or agency, except as hereinafter provided: Federal Crop Insurance Corporation administrative and operating expenses For administrative and operating expenses, $11,976,000. federal crop insurance corporation fund Not to exceed $8,006,000 of administrative and operating expenses may be paid from premium income. Commodity Credit Corporation reimbursement for net realized losses To reimburse the Commodity Credit Corporation for net realized losses sustained in prior years, but not previously reimbursed, pursuant to the Act of August 17, 1961 (15 U.S.C. 713a–11, 713a–12), $189,053,000. limitation on administrative expenses Not to exceed $41,220,000 shall be available for administrative expenses of the Commodity Credit Corporation: Provided, That $3,133,000 of this authorization shall be available to support the position of Sales Manager who shall work to expand and strengthen sales of U.S. commodities in world markets (including those of the Corporation and those funded by Public Law 480) pursuant to existing authority (including that contained in the Corporation’s charter and Public Law 480), and that such funds shall be used by such Sales Manager to form an agency to carry out the above activities. Such90 STAT. 859 Sales Manager shall report directly to the Board of Directors of the Corporation of which (he Secretary of Agriculture is a member. Such Sales Manager shall obtain, assimilate, and analyze all available information on developments related to private sales, as well as those funded by the Corporation and Public Law 480, including grade and quality as sold and as delivered and shall submit quarterly reports to the appropriate committees of Congress concerning such developments: 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: Prodded 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 persona] 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.