EMERGING MARKETS AND FACILITY GUARANTEE LOAN PROGRAM.

SEC. 3204. EMERGING MARKETS AND FACILITY GUARANTEE LOAN PROGRAM. Section 1542 of the Food, Agriculture, Conservation, and Trade Act of 1990 (7 U.S.C. 5622 note; Public Law 101–624) is amended—(1) in subsection (a), by striking “2007” and inserting “2012”;(2) in subsection (b)—(A) in the first sentence, by redesignating paragraphs (1) and (2) as subparagraphs (A) and (B), respectively, and indenting appropriately;(B) by striking “A portion” and inserting the following:“(1) In general.—A portion”;(C) in the second sentence, by striking “The Commodity Credit Corporation” and inserting the following:“(2) Priority.—The Commodity Credit Corporation”; and(D) by adding at the end the following:“(3) Construction waiver.—The Secretary may waive any applicable requirements relating to the use of United States goods in the construction of a proposed facility, if the Secretary determines that—“(A) goods from the United States are not available; or“(B) the use of goods from the United States is not practicable.“(4) Term of guarantee.—A facility payment guarantee under this subsection shall be for a term that is not more than the lesser of—“(A) the term of the depreciation schedule of the facility assisted; or122 STAT. 1838“(B) 20 years.”; and(3) in subsection (d)(1)(A)(i) by striking “2007” and inserting “2012”.