TARGETED EXPORT ASSISTANCE.

SEC. 4304. TARGETED EXPORT ASSISTANCE. (a) Level of Program.—Section 1124(a) of the Food Security Act of 1985 (7 U.S.C. 1736s(a)) is amended— (1) in paragraph (1)— (A) by striking out “1988” and inserting in lieu thereof “1987”; and (B) by striking out “and” at the end; and (2) by striking out paragraph (2) and inserting in lieu thereof the following: “(2) for the fiscal year 1988, the Secretary shall use under this section not less than $215,000,000 of the funds of, or commodities owned by, the Corporation, except that the Secretary shall use funds or commodities of the Corporation in excess of $110,000,000 only to the extent appropriations to reimburse the Corporation for such additional expenditures of funds or distribution of commodities are made available in advance to carry out this section; and “(3) for each of the fiscal years 1989 and 1990, the Secretary shall use under this section not less than $325,000,000 of the funds of, or commodities owned by, the Corporation.”. (b) Countervailing Duty Action.—Section 1124(b) of such Act is amended— 102 STAT. 1398 (1) in paragraph (1), by striking out “Funds” and inserting in lieu thereof “Except as provided in paragraph (3), funds”; and (2) by adding at the end thereof the following new paragraph: “(3) (A) Funds or commodities made available for use under this section may be used by the Secretary to assist organizations consisting of producers or processors of United States agricultural commodities in amounts necessary to compensate the organizations for reasonable expenses incurred in defending countervailing duty actions instituted after January 1, 1986, in foreign countries to offset the benefits of the agricultural programs provided for under the Agricultural Act of 1949 (7 U.S.C. 1421 et seq.). In no event may such assistance exceed $500,000 for the defense of any one countervailing duty action. “(B) If the Secretary declines to make funds or commodities available under this paragraph, the Secretary shall notify the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate of the reasons for declining to make the funds or commodities available.”.