BILL EMERSON HUMANITARIAN TRUST ACT.

SEC. 212. BILL EMERSON HUMANITARIAN TRUST ACT. (a) In General.— Section 302 of the Agricultural Act of 1980 (7 U.S.C. 1736f–1) is amended— (1) in subsection (b)— (A) in the subsection heading, by inserting “or Funds” after “Commodities”; (B) in paragraph (1)— (i) in subparagraph (B), by striking “and” at the end; (ii) in subparagraph (C), by striking the period at the end and inserting “; and”; and (iii) by adding at the end the following:112 STAT. 3466 “(D) funds made available under paragraph (2)(B) which shall be used solely to replenish commodities in the trust.”; and (C) in paragraph (2) by striking subparagraph (B) and inserting the following: “(B) Funds.— Any funds used to acquire eligible commodities through purchases from producers or in the market to replenish the trust shall be derived— “(i) with respect to fiscal years 2000 through 2002 from funds made available to carry out the Agricultural Trade Development and Assistance Act of 1954 (7 U.S.C. 1691 et seq.) that are used to repay or reimburse the Commodity Credit Corporation for the release of eligible commodities under subsections (c)(2) and (f)(2), except that, of such funds, not more than $20,000,000 may be expended for this purpose in each of the fiscal years 2000 through 2002; and “(ii) from funds authorized for that use by an appropriations Act.”; (2) in subsection (c)(2)— (A) by striking “assistance.—Notwithstanding” and inserting the following: “assistance— “(A) In general.— Notwithstanding”; and (B) by adding at the end the following: “(B) Limitation.— The Secretary may release eligible commodities under subparagraph (A) only to the extent such release is consistent with maintaining the long-term value of the trust.”; (3) in subsection (d)— (A) in paragraph (1), by striking “and” at the end; (B) in paragraph (2), by striking the period at the end and inserting “; and”; and (C) by adding at the end the following: “(3) subject to the need for release of commodities from the trust under subsection (c)(1), for the management of the trust to preserve the value of the trust through acquisitions under subsection (b)(2).”; and (4) in subsection (f )— (A) in paragraph (2), by inserting “of the trust” after “Reimbursement” in the heading; and (B) in paragraph (2)(A), by inserting “and the funds shall be available to replenish the trust under subsection (b)” before the last period. (b) Conforming Amendments.— (1) Title III of the Agricultural Act of 1980 (7 U.S.C. 1736f–1 et seq.) is amended by striking the title heading and inserting the following: “TITLE III— BILL EMERSON HUMANITARIAN TRUST”. (2) Section 301 of the Agricultural Act of 1980 (7 U.S.C. 1736f–1 note) is amended to read as follows:112 STAT. 3467 “SEC. 301. SHORT TITLE. “This title may be cited as the ‘Bill Emerson Humanitarian Trust Act’.”. (3) Section 302 of the Agricultural Act of 1980 (7 U.S.C. 1736f–1) is amended— (A) in the section heading, by striking “reserve” and inserting “trust”; (B) by striking “reserve” each place it appears (other than in subparagraphs (A) and (B) of subsection (b)(1)) and inserting “trust”; (C) in subsection (b)— (i) in the subsection heading, by striking “Reserve” and inserting “Trust”; (ii) in paragraph (1)(B), by striking “reserve,” and inserting “trust,”; and (iii) in the heading of paragraph (2), by striking “reserve” and inserting “trust”; and (D) in the heading of subsection (e), by striking “Reserve” and inserting “Trust”. (4) Section 208(d)(2) of the Agricultural Trade Suspension Adjustment Act of 1980 (7 U.S.C. 4001(d)(2)) is amended by striking “Food Security Commodity Reserve Act of 1996” and inserting “Bill Emerson Humanitarian Trust Act (7 U.S.C. 1736f–1 et seq.)”. (5) Section 901b(b)(3) of the Merchant Marine Act, 1936 (46 U.S.C. App. 1241f(b)(3)), is amended by striking “Food Security Wheat Reserve Act of 1980 (7 U.S.C. 1736f–1)” and inserting “Bill Emerson Humanitarian Trust Act (7 U.S.C. 1736f–1 et seq.)”.