following the words "surplus supply" the words "in the same manner as any other agricultural commodity or product is made available".

(e) Section 407 of the Agricultural Act of 1949, as amended, is amended by striking the period at the end of the third sentence thereof and adding the following: ": Provided, That whenever the Secretary of Agriculture determines that the carryover at the end of any marketing year of a price supported agricultural commodity for which a voluntary adjustment program is in effect will be less than 25 per centum (35 per centum in the case of wheat) of the estimated export and domestic consumption of such commodity during such marketing year, the Commodity Credit Corporation shall not sell any of its stocks of such commodity during such year for unrestricted use at less than 115 per centum (120 per centum in the case of wheat whenever its carryover will be less than 25 per centum of such estimated export and domestic consumption) of the current price support loan plus reasonable carrying charges.'

SEC. 4. (a) Commercial export sales of agricultural commodities out of private stocks on credit terms of not to exceed three years may be financed by the Commodity Credit Corporation under its export credit sales program.

(b) (1) Export sales of agricultural commodities out of Commodity Credit Corporation and private stocks on credit terms in excess of three years, but not more than ten years, may be financed by the Commodity Credit Corporation.

(2) No export sale may be financed under this subsection unless the Secretary of Agriculture determines that the sale will

(A) develop, expand, or maintain the importing nation as a foreign market, on a long-term basis, for the commercial sale and export of United States agricultural commodities without displacing normal commercial sales; or

(B) otherwise improve the capability of the importing nation to purchase and use, on a long-term basis, United States agricultural commodities.

(3) Consistent with the provisions of paragraph (2) of this subsection, intermediate credit financing under this subsection may be made available for the following uses:

(A) to establish reserve stocks consistent with international commodity agreements or other stock building plans acceptable to the United States;

(B) the export sale of breeding animals (including, but not limited to, cattle, swine, sheep, and poultry), including the cost of freight from the United States to designated points of entry in other nations;

(C) where determined feasible, for the establishment of facilities in the importing nation to improve handling, marketing, processing, storage, or distribution of imported agricultural commodities (through the use of local currency generated from the

17 USC 1707a. Sec. 4 was amended and restated by Sec. 101 of the Agricultural Trade Act of 1978 (92 Stat. 1685). It formerly read as follows: "SEC. 4. Commercial sales of agricultural commodities out of private stocks on credit terms of not to exceed three years may be financed by Commodity Credit Corporation under its Export Credit Sales program. There are hereby authorized to be appropriated such sums as may be necessary to reimburse the Commodity Credit Corporation annually for its actual costs incurred or to be incurred under its Export Credit Sales Program.

import and sale of United States agricultural commodities to finance all or part of such facilities); and

(D) to meet credit competition for agricultural export sales. (4) Intermediate credit financing under this subsection may not be used to encourage credit competition, or for the purpose of foreign aid or debt rescheduling.

(5) The terms of credit for export sales financed under this subsection shall include the following terms:

(a) Repayment shall be in dollars with interest at a rate equal, as nearly as practicable, to the rate charged by the Commodity Credit Corporation for financing under the Corporation's shortterm export credit sales program.

(B) The Secretary may, if the Secretary deems such action appropriate to protect the interests of the United States, require an initial payment from the purchaser at the time of sale or shipment of the agricultural commodity.

(6) The Secretary shall, wherever feasible, obtain commitments from purchasers that will prevent resale or transshipment to other nations of agricultural commodities purchased with financing provided under this subsection.

(7) (A) Agreements to finance export sales of agricultural commodities entered into under this subsection, except agreements to finance export sales for the establishment of reserve stocks, shall be subject to such other terms and conditions as the Secretary may deem necessary or appropriate and shall be subject only to review by the National Advisory Council on International Monetary and Financial Policies.

(B) Agreements to finance export sales of agricultural commodities under this subsection for the establishment of reserve stocks shall be subject to such other terms and conditions as the Secretary may deem necessary and appropriate. No such agreement may become effective or be carried out until the expiration of thirty days following the date on which a detailed summary of such proposed agreement, together with a determination by the President that such financing is not adverse to the interests of United States producers of agricultural commodities, is transmitted by the Secretary to the Committee on Agriculture, Nutrition, and Forestry of the Senate and the Committee on Agriculture of the House of Representatives, if transmitted while Congress is in session, or sixty days following the date of transmittal if transmitted while Congress is not in session.

(8) The provisions of the cargo preference laws shall not apply to export sales financed under this subsection.

(9) The authority provided under this subsection shall be in addition to, and not in place of, any authority granted to the Secretary or the Commodity Credit Corporation under any other provision of law. (c) The term "agricultural commodity" as used in this section includes any agricultural commodity or product thereof.

SEC. 5. This Act shall take effect as of January 1, 1967, except that section 4 shall take effect upon enactment.

b. Executive Order 11252, October 23, 1965, 30 F.R. 13507, 3 CFR, 1965 Supp., p. 181

FOOD-FOR-PEACE PROGRAM

WHEREAS the Food-For-Peace Program has fulfilled and continues to fulfill the hopes of its creators and is providing the United States with a significant new medium for advancing the cause of world peace and understanding through the use of our agricultural abundance to alleviate hunger, malnutrition, and privation among our neighbors abroad; and

WHEREAS the objectives of the Food-For-Peace Program can now best be achieved by vesting responsibility for the Program in the Secretary of State, the Cabinet official chiefly responsible for our policies and programs abroad, so that the activities of this Program will be coordinated, consolidated, and carried out more effectively with related activities of the United States abroad; and

WHEREAS the Secretary of State will be able to discharge these responsibilities more effectively through a special assistant specifically designated to assist him in carrying out the Food-For-Peace Program: NOW, THEREFORE, by virtue of the authority vested in me by subsection (f) of section 303 of the Government Employees Salary Reform Act of 1964 and as President of the United States, it is hereby ordered as follows:

SECTION 1. All functions of the Director of the Food-For-Peace Program, including those under Executive Order No. 10900 of January 5, 1961, as amended, and under the Presidential memorandum of January 24, 1961, relating to the Food-For-Peace Program (26 F.R. 781), are hereby transferred to the Secretary of State; and that order and memorandum are modified accordingly.

SEC. 2. There shall be in the Department of State a Special Assistant to the Secretary of State who shall assist the Secretary as the latter may direct in connection with the carrying out of the functions of the Secretary under this order and shall perform such other duties as the Secretary may direct.

SEC. 3. Section 1 of Executive Order No. 112481 of October 10, 1965, is amended by adding thereto the following:

"(3) Special Assistant to the Secretary (Food-For-Peace Program), State Department." 2

SEC. 4. This order shall take effect on November 1, 1965.

1 Section 1 of Executive Order No. 11248 designated certain offices and positions to be placed in Level IV of the Federal Executive Salary Schedule (Sec. 303 (d) of the Govern ment Employees Salary Reform Act of 1964, 5 U.S.C. 5315, with pay of $28,750.

Section 1 of Executive Order 11409 of April 29, 1968, which amended Executive Order 11248 deleted this position from the coverage of Executive Order 11248.

3. Domestic Volunteer Service Act of 1973 (Public Law 93-113) (partial text) --

405

4. Executive Order 11603 (Assigning Functions to the Director of ACTION)

406

5. Executive Order 11103 (Providing for the Appointment of Former Peace Corps Volunteers to the Civilian Civil Service).

411

(381)

The Peace Corps was initially established pursuant to Executive Order 10924, March 1, 1961, 26 F.R. 1789, as an agency in the Department of State, under authority of the Mutual Security Act of 1954, as amended. Pursuant to that order, Department of State Delegation of Authority No. 85-11, March 3, 1961, 26 F.R. 2196, and Department of State Redelegation of Authority No. 85-10B, March 4, 1961, 26 F.R. 2196, the Peace Corps was empowered to exercise authority under section 400 (a) of the Mutual Security Act of 1954, as amended ("Special Assistance"), and under certain other provisions of that act. Its operations were funded from appropriations available under the Mutual Security Act and Mutual Security Program funds appropriated by the joint resolution making temporary appropriations for fiscal year 1962. The authorities, functions, offices, personnel, property, records, and funds available to the Peace Corps were preserved, pending enactment of the Peace Corps Act, by section 643 (d) of the Foreign Assistance Act of 1961, notwithstanding the repeal by that act of much of the Mutual Security Act of 1954, as amended. Section 643 (d) was repealed by the Foreign Assistance Act of 1962. Pursuant to Executive Order 11603 of July 1, 1971 (36 F.R. 12675), the Peace Corps was transferred to the agency created by Reorganization Plan No. 1 of 1971 and designated as ACTION. The ACTION Agency was established by law under Title IV of the Domestic Volunteer Service Act of 1973.

(382)