7 U.S.C. § 1723 — Generation and use of currencies by private voluntary organizations and cooperatives

submitted 72 years ago by ch. 469 to r/title-7-AGRICULTURE · 271 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section allows certain food-assistance agreements to generate proceeds by selling or bartering commodities. It requires proposals for non-emergency agreements to describe intended uses of those proceeds and permits specified uses, including transportation, development activities, and investment.

(a) Local sale and barter of commodities An agreement between the Administrator and a private voluntary organization or cooperative to provide food assistance through that organization or cooperative under this subchapter may allow the organization or cooperative to sell or barter the commodities in one or more recipient countries, or in one or more countries in the same region. The purpose is to generate proceeds that may be used as this section provides. (b) Description of intended uses A private voluntary organization or cooperative that submits a proposal for a non-emergency food-assistance agreement under this subchapter must include a description of how it intends to use any proceeds that may be generated by selling the commodities in one or more recipient countries, or in one or more countries in the same region. The commodities must have been provided under an agreement between the Administrator and the organization or cooperative. (c) Use Proceeds from any partial or complete sale or barter of commodities by a private voluntary organization or cooperative under a non-emergency food-assistance agreement under this subchapter may— (1) be used to transport, store, and distribute the agricultural commodities provided under this subchapter, and otherwise improve how effectively those commodities are used; (2) be used for income-generating, community-development, health, nutrition, cooperative-development, agricultural, and other development activities in one or more recipient countries or in one or more countries in the same region; or (3) be invested. Any interest earned on the investment may be used for the purposes for which the assistance was provided to the organization, without another appropriation by Congress.

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

(a) Local sale and barter of commodities

An agreement entered into between the Administrator and a private voluntary organization or cooperative to provide food assistance through such organization or cooperative under this subchapter may provide for the sale or barter in 1 or more recipient countries, or 1 or more countries in the same region, of the commodities to be provided under such agreement to generate proceeds to be used as provided in this section.

(b) Description of intended uses

A private voluntary organization or cooperative submitting a proposal to enter into a non-emergency food assistance agreement under this subchapter shall include in such proposal a description of the intended uses of any proceeds that may be generated through the sale, in 1 or more recipient countries, or in 1 or more countries in the same region, of any commodities provided under an agreement entered into between the Administrator and the organization or cooperative.

Proceeds generated from any partial or full sale or barter of commodities by a private voluntary organization or cooperative under a non-emergency food assistance agreement under this subchapter may—

(1)

be used to transport, store, distribute, and otherwise enhance the effectiveness of the use of agricultural commodities provided under this subchapter;

(2)

be used to implement income-generating, community development, health, nutrition, cooperative development, agricultural, and other developmental activities within 1 or more recipient countries or within 1 or more countries in the same region; or

(3)

be invested, and any interest earned on such investment may be used, for the purposes for which the assistance was provided to that organization, without further appropriation by Congress.

Source credit: (July 10, 1954, ch. 469, title II, § 203, 68 Stat. 458; May 28, 1956, ch. 327, title II, § 208(c), 70 Stat. 201; Pub. L. 85–128, § 1(3), Aug. 13, 1957, 71 Stat. 345; Pub. L. 86–341, title I, § 3, Sept. 21, 1959, 73 Stat. 606; Pub. L. 86–472, ch. VI, § 601(b), May 14, 1960, 74 Stat. 140; Pub. L. 87–128, title II, § 202(1), Aug. 8, 1961, 75 Stat. 307; Pub. L. 88–638, § 1(13), (14), Oct. 8, 1964, 78 Stat. 1037; Pub. L. 89–808, § 2(C), Nov. 11, 1966, 80 Stat. 1535; Pub. L. 95–88, title II, § 209, Aug. 3, 1977, 91 Stat. 548; Pub. L. 98–473, title III, § 305, Oct. 12, 1984, 98 Stat. 2195; Pub. L. 101–624, title XV, § 1512, Nov. 28, 1990, 104 Stat. 3638; Pub. L. 104–127, title II, § 208, Apr. 4, 1996, 110 Stat. 954; Pub. L. 107–171, title III, § 3003, May 13, 2002, 116 Stat. 281; Pub. L. 110–246, title III, § 3009, June 18, 2008, 122 Stat. 1824; Pub. L. 115–334, title III, § 3103, Dec. 20, 2018, 132 Stat. 4604.)

history & why it existsrecord from the source credit

1954Enacted · Act of July 10, 1954, ch. 469 · 68 Stat. 458
1956Amended · Act of May 28, 1956, ch. 327 · 70 Stat. 201
1957Amended · Pub. L. 85-128 · 71 Stat. 345
1959Amended · Pub. L. 86-341 · 73 Stat. 606
1960Amended · Pub. L. 86-472 · 74 Stat. 140
1961Amended · Pub. L. 87-128 · 75 Stat. 307
1964Amended · Pub. L. 88-638 · 78 Stat. 1037
1966Amended · Pub. L. 89-808 · 80 Stat. 1535
1977Amended · Pub. L. 95-88 · 91 Stat. 548
1984Amended · Pub. L. 98-473 · 98 Stat. 2195
1990Amended · Pub. L. 101-624 · 104 Stat. 3638
1996Amended · Pub. L. 104-127 · 110 Stat. 954
2002Amended · Pub. L. 107-171 · 116 Stat. 281
2008Amended · Pub. L. 110-246 · 122 Stat. 1824
2018Amended · Pub. L. 115-334 · 132 Stat. 4604

A history note hasn’t been published yet. The record shows enactment by ch. 469 on 1954-07-10.

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