DAIRY EXPORT INCENTIVE PROGRAM.

SEC. 148. DAIRY EXPORT INCENTIVE PROGRAM. (a) Duration.— Section 153(a) of the Food Security Act of 1985 (15 U.S.C. 713a—14(a)) is amended by striking “2001” and inserting “2002”. (b) Sole Discretion.— Section 153(b) of the Food Security Act of 1985 (15 U.S.C. 713a-14(b)) is amended by inserting “sole” before “discretion”. (c) Elements of Program.— Section 153(c) of the Food Security Act of 1985 (15 U.S.C. 713a-14(c)) is amended— (1) by striking “and” at the end of paragraph (1); (2) by striking the period at the end of paragraph (2) and inserting a semicolon; and (3) by adding at the end the following: “(3) the maximum volume of dairy product exports allowable consistent with the obligations of the United States as a member of the World Trade Organization is exported under the program each year (minus the volume sold under section 1163 of the Food Security Act of 1985 (Public Law 99–198; 7 U.S.C. 1731 note) during that year), except to the extent that the export of such a volume under the program would, in the judgment of the Secretary, exceed the limitations on the value set forth in subsection (f); and “(4) payments may be made under the program for exports to any destination in the world for the purpose of market development, except a destination in a country with respect to which shipments from the United States are otherwise restricted by law.”. (d) Market Development.— Section 153(e)(1) of the Food Security Act of 1985 (15 U.S.C. 713a-14(e)( 1)) is amended— 110 STAT. 921 (1) by striking “and” and inserting “the”; and (2) by inserting before the period the following: “, and any additional amount that may be required to assist in the development of world markets for United States dairy products”. (e) Maximum Allowable Amounts.— Section 153 of the Food Security Act of 1985 (15 U.S.C. 713a-14) is amended by adding at the end the following: “(f) Required Funding.— “(1) In general.— Except as provided in paragraph (2), the Commodity Credit Corporation shall in each year use money and commodities for the program under this section in the maximum amount consistent with the obligations of the United States as a member of the World Trade Organization, minus the amount expended under section 1163 of the Food Security Act of 1985 (Public Law 99–198; 7 U.S.C. 1731 note) during that year. “(2) Volume limitations.— The Commodity Credit Corporation may not exceed the limitations specified in subsection (c)(3) on the volume of allowable dairy product exports.”.