Page:United States Statutes at Large Volume 63 Part 1.djvu/1096

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PUBLIC LAWS-CH. 792-OCT. 31 , 1949 "Normal supply," cotton. 52 Stat. 42; 62 Stat. 1251. 7U.S . C .,Supp.II, § 1301 (b) (16). Ante, p. 676. "Total supply," cotton. Repeals. 62 Stat. 1251 , 1256 , 1257. 7U. .C., Supp.II, §§ 1301 (b) (3) (B), 1345,1355 , 1343 . Ante, pp. 674, 670. Prevention of waste of food commodities. 48 Stat. 264. Loans for storage construction. 46 Stat. 11. 12U..c.. 1141- 11413. Commitment from Commodity Credit Corporation. "30 per centum in the case of cotton;", and (3) by adding at the end thereof the following subparagraph: "(C) The 'normal supply' of cotton for any marketing year shall be the estimated domestic consumption of cotton for the marketing year for which such normal supply is being determined, plus the esti- mated exports of cotton for such marketing year, plus 30 per centum of the sum of such consumption and exports as an allowance for carry-over." (d) Section 301 (b) (16) of the Agricultural Adjustment Act of 1938, as amended by section 201 (e) of the Agricultural Act of 1948 is amended (1) by striking out of subparagraph (A) the following: "cotton,", and (2) by adding the following subparagraph: "(C) 'Total supply' of cotton for any marketing year shall be the carry-over at the beginning of such marketing year, plus the estimated production of cotton in the United States during the calendar year in which such marketing year begins and the estimated imports of cotton into the United States during such marketing year." (e) Sections 201 (c), 205, 206, and 207 (c) of the Agricultural Act of 1948 are hereby repealed. SEO. 416. In order to prevent the waste of food commodities acquired through price support operations which are found to be in danger of loss through deterioration or spoilage before they can be disposed of in normal domestic channels without impairment of the price support program, the Secretary of Agriculture and the Commodity Credit Corporation are authorized, upon application by the Munitions Board or any other Federal agency and on such terms and under such regula- tions as may be deemed in the public interest, to make such commodi- ties available to any such agency for use in making payment for commodities not produced in the United States. Any such commodi- ties which are not disposed of pursuant to the foregoing sentence may be made available by the Secretary and the Commodity Credit Cor- poration at the point of storage at no cost, save handling and transpor- tation costs incurred in making delivery from the point of storage, as follows in the order of priority set forth: First, to school-lunch pro- grams; and to the Bureau of Indian Affairs and Federal, State, and local public welfare organizations for the assistance of needy Indians and other needy persons; second, to private welfare organizations for the assistance of needy persons within the United States; third, to private welfare organizations for the assistance of needy persons out- side the United States. SEC. 417. (a) Section 41 of the Farm Credit Act of 1933 (U. S . C ., title 12, sec. 1134c) is amended by adding at the end thereof the following: "Notwithstanding any limitations or conditions imposed by law, but subject to the availability of funds, each Bank for Cooperatives shall have power and authority to make separate loans to cooperative asso- ciations as defined in the Agricultural Marketing Act, as amended, for the purpose of financing the construction of structures for the storage of agricultural commodities (other than structures to provide refrig- erated cold storage or structures in areas in which existing privately owned storage facilities for the commodity concerned are adequate) in amounts up to a maximum of 80 per centum of the cost of such struc- tures, as approved by the Bank for Cooperatives to whom application is made for the loan: Provided, That the cooperative association which has applied for any loan shall have furnished to the Bank for Coopera- tives an appropriate commitment from the Commodity Credit Corporation that the Commodity Credit Corporation will lease or guarantee utilization of not less than 75 per centum of the storage space contained in such structures when completed for a period of at least 1058 [63 STAT.