12 2 STA T . 1 83 1 PUBLIC LA W 11 0– 2 46—J U NE 18 , 2008 (2)bystrik i ng‘ ‘2 0 02t h r ou gh 200 7’ ’ a n d ins e rting ‘‘200 8 through 20 1 2’’ . (b) AUTHORIZA TIO N O F A P PROPRIATION S . —S e c tion 5 01(e) o f the F ood for P eace Act (7 U .S. C .17 3 7(e)) is a m ended by striking p ara - graph (1) and inserting the fo l lo w ing
‘‘(1) I N GE NERA L .— T here are authori z ed to be appropriated for each of fiscal years 2008 through 2012 to carry out the programs under this section— ‘‘(A) $ 10 , 000,000 for sub-Saharan African and Carib- bean B asin countries
and ‘‘(B) $5,000,000 for other de v eloping or middle-income countries or emerging markets not described in subpara- graph (A).’’. Subti t leB—Agr i c ultur a l T ra d e Act of1978 a n d R elated Statute sSEC.310 1.E XPORT CRE DI T GUA RA N TEE PROGRA M . (a) R EPEAL OF SUPPLIER CRE D IT G UARANTEE PROGRA M AND INTERMEDIATE EX PORT CREDIT GUARANTEE PROGRAM.—Section 202 of the Agricultural Trade Act of 1 9 78 (7 U.S.C. 5 6 22) is amended— (1) in subsection (a)— (A) by striking ‘‘GUARANTEES.—’’ and all that follows through ‘‘The Commodity’’ in paragraph (1) and inserting ‘‘GUARANTEES.—The Commodity’’; and (B) by striking paragraphs (2) and (3); (2) by striking subsections (b) and (c); (3) by redesignating subsections (d) through (l) as sub- sections (b) through ( j ), respectively; and ( 4 ) by adding at the end the following: ‘‘(k) ADMINISTRATION.— ‘‘(1) D EFINITION OF LONG TERM.—In this subsection, the term ‘long term’ means a period of 10 or more years. ‘‘(2) GUARANTEES.—In administering the e x port credit guarantees authorized under this section, the Secretary shall— ‘‘(A) maximize the export sales of agricultural commod- ities; ‘‘(B) maximize the export credit guarantees that are made available and used during the course of a fiscal year; ‘‘(C) develop an approach to risk evaluation that facili- tates accurate country risk designations and timely adjust- ments to the designations (on an ongoing basis) in response to material changes in country risk conditions, with ongoing opportunity for input and evaluation from the private sector; ‘‘(D) adjust risk-based guarantees as necessary to ensure program effectiveness and United States competi- tiveness; and ‘‘(E) work with industry to ensure, to the maximum extent practicable, that risk-based fees associated with the guarantees cover, but do not exceed, the operating costs and losses over the long term.’’. (b) FUNDING L E V ELS.—Section 211 of the Agricultural Trade Act of 1978 (7 U.S.C. 5641) is amended by striking subsection (b) and inserting the following:
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