46 U.S.C. § 55313 — Exemption of certain agricultural exports from cargo preference provisions

submitted 20 years ago by Pub. L. 109-304 to r/title-46-SHIPPING · 265 words · no verdicts yet

in plain englishAI-generated · not legal advice

This law exempts certain U.S. Department of Agriculture and Commodity Credit Corporation export programs from the general rule that cargo must ship on U.S. vessels. It lists five kinds of export activities — like donations, export payments, and credit deals — that don't have to follow those shipping rules.

This section says that sections 55304 and 55305 — the rules requiring cargo to ship on U.S. vessels — do not apply to five specific kinds of export activity run by the Secretary of Agriculture or the Commodity Credit Corporation: (1) When the Corporation makes farm commodities or products it owns available to U.S. exporters, users, processors, or foreign buyers, in order to build up or expand export markets for U.S. farm products, at prevailing world market prices. (2) When payments are made available to U.S. exporters, users, or processors for that same market-building purpose — or, with one exception found in section 55314, cash grants made available to foreign buyers for that purpose. (3) When the Corporation blends commercial credit guarantees with its own direct credit, to lower the effective interest rate on export sales of U.S. farm products. (4) When the Corporation extends credit or credit guarantees of three years or less, to finance or guarantee export sales of U.S. farm products. (5) When farm commodities or products owned, controlled, or loaned by the Corporation are traded or bartered for materials, goods, equipment, or services worth at least as much (measured at prevailing world market prices when the trade happens). But this exception does not excuse the materials, goods, equipment, or services received in the trade from any shipping rule in section 55314(b) that would otherwise apply to them.

the actual law source: uscode.house.gov ↗public domain

Sections 55304 and 55305 of this title do not apply to export activities of the Secretary of Agriculture or the Commodity Credit Corporation under which—

(1)

agricultural commodities or their products acquired by the Corporation are made available to United States exporters, users, processors, or foreign purchasers for the purpose of developing, maintaining, or expanding export markets for United States agricultural commodities or their products at prevailing world market prices;

(2)

payments are made available to United States exporters, users, or processors or, except as provided in section 55314 of this title, cash grants are made available to foreign purchasers, for the purpose described in paragraph (1);

(3)

commercial credit guarantees are blended with direct credits from the Corporation to reduce the effective rate of interest on export sales of United States agricultural commodities or their products;

(4)

credit or credit guarantees for not more than 3 years are extended by the Corporation to finance or guarantee export sales of United States agricultural commodities or their products; or

(5)

agricultural commodities or their products owned or controlled by or under loan from the Corporation are exchanged or bartered for materials, goods, equipment, or services at least equal in value to the agricultural commodities or their products for which they are exchanged or bartered (determined on the basis of prevailing world market prices at the time of the exchange or barter), but this paragraph does not exempt from the cargo preference provisions referred to in section 55314(b) of this title any requirement otherwise applicable to the materials, goods, equipment, or services imported under the transaction.

Source credit: (Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1644.)

history & why it existsrecord from the source credit

2006Enacted · Pub. L. 109-304 · 120 Stat. 1644

A history note hasn’t been published yet. The record shows enactment by Pub. L. 109-304 on 2006-10-06.

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