ALTERNATIVE AGRICULTURAL RESEARCH AND COMMERCIALIZATION CORPORATION.

SEC. 6201. ALTERNATIVE AGRICULTURAL RESEARCH AND COMMERCIALIZATION CORPORATION. (a) Repeal of Corporation Authorization.—Subtitle G of title XVI of the Food, Agriculture, Conservation, and Trade Act of 1990 (7 U.S.C. 5901 et seq.) is repealed. (b) Disposition of Assets.—On the date of enactment of this Act— (1) the assets, both tangible and intangible, of the Alternative Agricultural Research and Commercialization Corporation (referred to in this section as the “Corporation”), including the funds in the Alternative Agricultural Research and 116 STAT. 419 Commercialization Revolving Fund as of the date of enactment of this Act, are transferred to the Secretary of Agriculture; and (2) notwithstanding the Federal Property and Administrative Services Act of 1949 (40 U.S.C. 471 et seq.) and any other law that prescribes procedures for procurement, use, and disposal of property by a Federal agency, the Secretary shall have authority to manage and dispose of the assets transferred under paragraph (1) in a manner that, to the maximum extent practicable, provides the best value to the Federal Government. (c) Use of Assets.— (1) In general.—Funds transferred under subsection (b), and any income from assets or proceeds from the sale of assets transferred under subsection (b), shall be deposited in an account in the Treasury, and shall remain available to the Secretary until expended, without further appropriation, to pay— (A) any claims against, or obligations of, the Corporation; and (B) the costs incurred by the Secretary in carrying out this section. (2) Final disposition.—On final disposition of all assets transferred under subsection (b), any funds remaining in the account described in paragraph (1) shall be transferred into miscellaneous receipts in the Treasury. (d) Conforming Amendments.— (1) Section 5315 of title 5, United States Code, is amended by striking “Executive Director of the Alternative Agricultural Research and Commercialization Corporation”. (2) Section 730 of the Federal Agriculture Improvement and Reform Act of 1996 (7 U.S.C. 5902 note; Public Law 104127) is repealed. (3) Section 211(b) of the Department of Agriculture Reorganization Act of 1994 (7 U.S.C. 6911(b)) is amended by striking paragraph (5). (4) Section 404(d) of the Agricultural Research, Extension, and Education Reform Act of 1998 (7 U.S.C. 7624(d)) is amended— (A) by striking paragraph (2); and (B) by redesignating paragraphs (3) and (4) as paragraphs (2) and (3), respectively. (5) The Herger-Feinstein Quincy Library Group Forest Recovery Act (16 U.S.C. 2104; Public Law 105-277; 112 Stat. 2681-305) is amended by striking subsection (m). (6) Section 9101(3) of title 31, United States Code, is amended by striking subparagraph (Q).