DISPOSITION OF COMMODITIES TO PREVENT WASTE.

SEC. 264. DISPOSITION OF COMMODITIES TO PREVENT WASTE. Section 416 of the Agricultural Act of 1949 (7 U.S.C. 1431) is amended— (1) in subsection (b)— (A) in paragraph (7)— (i) in subparagraph (D)(iv), by striking “one year of acquisition” and all that follows through the period at the end and inserting the following: “a reasonable length of time, as determined by the Secretary, except that the Secretary may permit the use of proceeds in a country other than the country of origin— “(I) as necessary to expedite the transportation of commodities and products furnished under this subsection; or “(II) if the proceeds are generated in a currency generally accepted in the other country.”; and (ii) by striking the sentence following subparagraph (F) and inserting the following: “The Secretary may approve the use of proceeds or services realized from the sale or barter of a commodity furnished under this subsection by a nonprofit voluntary agency, cooperative, or intergovernmental agency or organization to meet administrative expenses incurred in connection with activities undertaken under this subsection.”; (B) in paragraph (8), by striking subparagraph (C); and (C) by striking paragraphs (10), (11), and (12); and (2) by striking subsection (c).