PUBLIC LAW 105-277—OCT. 21, 1998 112 STAT. 2681-40 (3) by striking "$400,000; or (2) for the purchasing" and inserting "$700,000 (increased, beginning with fiscal year 2000, by the inflation percentage applicable to the fiscal year in which the loan is guaranteed and reduced by the unpaid indebtedness of the borrower on loans under the sections specified in section 305 that are guaranteed by the Secretary); or "(2) for the purchasing"; and (4) by adding at the end the following: "(b) INFLATIONftiRCENTAGE.— Forpurposes of this section, the inflation percentage applicable to a fiscal year is the percentage (if any) by which— "(1) the average of the Prices Paid By Farmers Index (as compiled by the National Agricultural Statistics Service of the Department of Agriculture) for the 12-month period ending on August 31 of the immediately preceding fiscal year; exceeds "(2) the average of such index (as so defined) for the 12- month period ending on August 31, 1996.". SEC. 807. Section 353(e) of the Consolidated Farm and Rural Development Act (7 U.S.C. 2001(e)) is amended by adding at the end the following: "(6) NOTICE OF RECAPTURE. — Beginning with fiscal year 2000 not later than 12 months before the end of the term of a shared appreciation arrangement, the Secretary shall notify the borrower involved of the provisions of the arrangement.". SEC. 808. Section 353(c)(3)(C) of the Consolidated Farm and Rural Development Act (7 U.S.C. 2001(c)(3)(C)) is amended by striking " 110 percent" and inserting " 100 percent". TITLE IX—INDIA-PAKISTAN RELIEF ACT SEC. 901. SHORT TITLE. This title may be cited as the "India- Pakistan Relief Act of 1998". SEC. 902. WAIVER AUTHORITY, (a) AUTHORITY.— The President may waive for a period not to exceed one year upon enactment of this Act with respect to India or Pakistan the application of any sanction or prohibition (or portion thereof) contained in section 101 or 102 of the Arms Export Control Act, section 620E(e) of the Foreign Assistance Act of 1961, or section 2(b)(4) of the Export Import Bank Act of 1945, (b) EXCEPTION. —The authority provided in subsection (a) shall not apply to any restriction in section 102(b)(2)(B), (C), or (G) of the Arms Export Control Act. (c) AVAILABILITY OF AMOUNTS. — Amounts made available by this section are designated by the Congress as an emergency requirement pursuant to section 251(b)(2)(A) of the Balanced Budget and Emergency Deficit Control Act of 1985, as amended: Provided, That such amounts shall be available only to the extent that an official budget request that includes designation of the entire amount of the request as an emergency requirement as defined in the Balanced Budget and Emergency Deficit Control Act of 1985, as amended, is transmitted by the President to the Congress. SEC. 903. CONSULTATION. Prior to each exercise of the authority provided in section 902, the President shall consult with the appropriate congressional committees. SEC. 904. REPORTING REQUIREMENT. Not later than 30 days prior to the expiration of a one-year period described in section India-Pakistan Relief Act of 1998. 22 USC 2799aa- 1 not(i. 22 USC 2799aa- Inote. 22 USC 2799aa- 1 note. 22 USC 2799aa- 1 note.
�
