§ 714c. — Specific powers of Corporation.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC714c]
TITLE 15--COMMERCE AND TRADE
CHAPTER 15--ECONOMIC RECOVERY
SUBCHAPTER II--COMMODITY CREDIT CORPORATION
Sec. 714c. Specific powers of Corporation
In the fulfillment of its purposes and in carrying out its annual
budget programs submitted to and approved by the Congress pursuant to
chapter 91 of title 31, the Corporation is authorized to use its general
powers only to--
(a) Support the prices of agricultural commodities through loans,
purchases, payments, and other operations.
(b) Make available materials and facilities required in connection
with the production and marketing of agricultural commodities.
(c) Procure agricultural commodities for sale to other Government
agencies, foreign governments, and domestic, foreign, or international
relief or rehabilitation agencies, and to meet domestic requirements.
(d) Remove and dispose of or aid in the removal or disposition of
surplus agricultural commodities.
(e) Increase the domestic consumption of agricultural commodities by
expanding or aiding in the expansion of domestic markets or by
developing or aiding in the development of new and additional markets,
marketing facilities, and uses for such commodities.
(f) Export or cause to be exported, or aid in the development of
foreign markets for, agricultural commodities (including fish and fish
products, without regard to whether such fish are harvested in
aquacultural operations).
(g) Carry out conservation or environmental programs authorized by
law.
(h) Carry out such other operations as the Congress may specifically
authorize or provide for.
In the Corporation's purchasing and selling operations with respect
to agricultural commodities (except sales to other Government agencies),
and in the warehousing, transporting, processing, or handling of
agricultural commodities, the Corporation shall, to the maximum extent
practicable consistent with the fulfillment of the Corporation's
purposes and the effective and efficient conduct of its business,
utilize the usual and customary channels, facilities, and arrangements
of trade and commerce (including, at the option of the Corporation, the
use of private sector entities).
(June 29, 1948, ch. 704, Sec. 5, 62 Stat. 1072; Pub. L. 98-623, title
IV, Sec. 405(a), Nov. 8, 1984, 98 Stat. 3409; Pub. L. 104-127, title
III, Sec. 381(a), Apr. 4, 1996, 110 Stat. 1016; Pub. L. 107-171, title
I, Sec. 1609, May 13, 2002, 116 Stat. 218.)
Codification
``Chapter 91 of title 31'' substituted in provision preceding
subsec. (a) for ``the Government Corporation Control Act (31 U.S.C.,
1940 edition, Supp. V, 841)'' on authority of Pub. L. 97-258, Sec. 4(b),
Sept. 13, 1982, 96 Stat. 1067, the first section of which enacted Title
31, Money and Finance.
Amendments
2002--Pub. L. 107-171 inserted ``(including, at the option of the
Corporation, the use of private sector entities)'' before period at end
of last sentence.
1996--Subsecs. (g), (h). Pub. L. 104-127 added subsec. (g) and
redesignated former subsec. (g) as (h).
1984--Subsec. (f). Pub. L. 98-623 inserted ``(including fish and
fish products, without regard to whether such fish are harvested in
aquacultural operations)''.
Effective Date of 1996 Amendment
Section 381(b) of Pub. L. 104-127 provided that: ``The amendments
made by subsection (a) [amending this section] shall become effective on
January 1, 1997.''
Effective Date of 1984 Amendment
Section 405(d) of Pub. L. 98-623 provided that: ``For purposes of
section 135 of the Omnibus Budget Reconciliation Act of 1982 (7 U.S.C.
612c note) [Pub. L. 97-253], the amendments made by this section
[amending this section and sections 1707a and 1732 of Title 7,
Agriculture] shall be considered to have taken effect before the date of
the enactment of that Act [Sept. 8, 1982].''
Exceptions From Transfer of Functions
For exception of functions of corporations of Department of
Agriculture from transfer of functions to Secretary of Agriculture by
Reorg. Plan No. 2 of 1953, see Exceptions From Transfer of Functions
note set out under section 712a of this title.
Export Enhancement Program; Promotion of United States Meat Exports
Pub. L. 101-220, Sec. 2, Dec. 12, 1989, 103 Stat. 1876, provided
that:
``(a) Commissaries.--During each of fiscal years 1990, 1991, and
1992, the Commodity Credit Corporation shall, in carrying out the export
enhancement program established pursuant to section 5(f) of the
Commodity Credit Corporation Charter Act (15 U.S.C. 714c(f)), promote
the export of United States meat, including poultry products, to
commissaries on military installations in the European Community.
``(b) Funding.--
``(1) In general.--Except as provided in paragraph (2), of the
amounts made available by the Commodity Credit Corporation to
exporters, processors, and foreign importers under the authority of
section 5(f) of the Commodity Credit Corporation Charter Act (15
U.S.C. 714c(f)) in commodities of the Commodity Credit Corporation
to enhance the export of United States commodities by making the
price of such commodities competitive in the world market, the
Commodity Credit Corporation shall make available to carry out
subsection (a) not less than $14,000,000 in funds or commodities for
fiscal year 1990, not less than $9,300,000 in funds or commodities
for fiscal year 1991, and not less than $4,600,000 in funds or
commodities for fiscal year 1992.
``(2) Transportation costs.--Funds or commodities shall be made
available under this section only to the extent that funds are made
available by the Department of Defense for the costs of transporting
the meat to the commissaries.
``(c) Reimbursement of Corporation.--Section 4 of the Act of July
16, 1943 (57 Stat. 566, chapter 241; 15 U.S.C. 713a [15 U.S.C. 713a-9])
shall not apply to services performed, losses sustained, operating costs
incurred, or commodities purchased or delivered by the Commodity Credit
Corporation pursuant to this section.''
Use of Commodity Credit Corporation for Purchase of Agricultural
Products Formerly Intended for Export to Soviet Union
Pub. L. 96-494, title II, Sec. 206, Dec. 3, 1980, 94 Stat. 2572,
provided that: ``Notwithstanding any other provision of law, the
Secretary of Agriculture may use, subject to such terms and conditions
as the Secretary may deem appropriate, the funds, facilities, and
authorities of the Commodity Credit Corporation in purchasing and
handling agricultural products, other than grains, that--
``(1) were intended to be exported to the Union of Soviet
Socialist Republics under contracts entered into prior to January 5,
1980, but
``(2) cannot be exported under such contracts due to the
imposition, on January 4, 1980, of restrictions on the export of
agricultural products to the Union of Soviet Socialist Republics,
in the same manner and under the same conditions as the Secretary
purchases and handles grains under similar contracts and subject to the
imposition of the same restrictions.''
Section Referred to in Other Sections
This section is referred to in sections 713a-14, 714k of this title;
title 7 section 1738r; title 16 section 3811; title 21 section 889.
