[Federal Register Volume 61, Number 123 (Tuesday, June 25, 1996)]
[Rules and Regulations]
[Page 32644]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-15969]



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DEPARTMENT OF AGRICULTURE
7 CFR Part 1485

RIN 0551-AA24


Agreements for the Development of Foreign Markets for 
Agricultural Commodities; Correction

AGENCY: Commodity Credit Corporation, USDA.

ACTION: Correcting amendments.

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SUMMARY: This document contains corrections to the final regulations 
which were published Wednesday, February 1, 1995 (60 FR 6352). The 
regulations implement the Market Promotion Program authorized by the 
section 203 of the Agricultural Trade Act of 1978.

EFFECTIVE DATE: June 25, 1996.

FOR FURTHER INFORMATION CONTACT:
Sharon L. McClure or Denise Fetters at (202) 720-5521.

SUPPLEMENTARY INFORMATION:

Background

    On February 1, 1995, the CCC published final rules at 60 FR 6352 
governing the MPP. These new rules were applicable beginning with a 
participant's 1995 marketing year. Following publication, CCC 
participated with interested parties in five information sessions 
designed to familiarize participants with the new regulations and offer 
participants an additional opportunity to identify problem areas. 
Several errors were noted in these discussions while others were 
identified by participants during the course of the 1995 program year. 
The errors are as follows: In the preamble to the final rule, CCC 
explained that it considered an expense to be ``incurred'' as of the 
date a participant or third party transfers funds to pay for an 
expenditure. However, the use of this term remains somewhat confusing 
and, therefore, CCC is replacing all occurrences of the word 
``incurred'' with terms or phrases that better reflect the intent of 
the regulations. Section 1485.14(a) is amended to refer to 
``maintaining'' export markets in addition to developing and expanding 
export markets. The final rule erroneously omitted a reference to a 
transfer being made by a third party. The preamble to the final rule 
states that such transfer could be made either by the participant or a 
third party. Section 1485.16(a)(2) is amended to include reference to a 
``third party'' transferring funds to pay for the expenditure. The 
prohibition on reimbursing costs for ``travel in the United States 
unless in transit to or from a foreign country in which travel is not 
restricted'' found in Sec. 1485.16(d)(27) would be deleted from the 
final rule because CCC does, in fact, allow expenditures on travel 
associated with trade shows, seminars, and educational training 
conducted in the United States as specified in Sec. 1485.16(c)(25). CCC 
inadvertently used incorrect terminology in Sec. 1485.20(a)(1). The 
phrase ``generally accepted principles and standards of accounting'' is 
replaced with ``generally accepted accounting principles''.

Need for Correction

    As published, the final regulations contain errors which may prove 
to be misleading and are in need of clarification.

List of Subjects in 7 CFR Part 1485

    Agricultural commodities, Exports.

    Accordingly, 7 CFR Part 1485 is corrected by making the following 
correcting amendments:

PART 1485--AGREEMENTS FOR THE DEVELOPMENT OF FOREIGN MARKETS FOR 
AGRICULTURAL COMMODITIES

    1. The authority citation for part 1485 continues to read as 
follows:

    Authority: 7 U.S.C. 5623, 5662-5664 and sec. 1302, Pub. L. 103-
66, 107 Stat. 330.


Sec. 1485.11  [Corrected]

    2. In section 1485.11, paragraph (i), the word ``incurred'' is 
revised to read ``expenditure made by a participant''.
    3. In section 1485.11, paragraph (gg), the phrase ``cost incurred'' 
is revised to read ``expenditure made''.


Sec. 1485.13  [Corrected]

    4. In section 1485.13, paragraph (c)(1)(i), the phrase ``Such costs 
will be incurred as part'' is revised to read ``Expenditures will be 
made in furtherance''.
    4A. In section 1485.13, paragraph (c)(3)(i), the word ``incurred'' 
is revised to read ``expenditures made''.


Sec. 1485.14  [Corrected]

    5. In section 1485.14, paragraph (a), in the first sentence, the 
word ``maintaining'' is added after the word ``developing''.


Sec. 1485.16  [Corrected]

    6. In section 1485.16, paragraph (a)(2), the phrase ``or third 
party'' is added after the word ``participant''.
    7. In section 1485.16, paragraph (d)(27) is removed and reserved.
    8. In section 1485.16, paragraph (d)(29), the word ``incurred'' is 
revised to read ``made''.


Sec. 1485.20  [Corrected]

    9. In section 1485.20, paragraph (a)(1), the phrase ``generally 
accepted principles and standards of accounting'' is revised to read 
``generally accepted accounting principles''.
    10. In section 1485.20, paragraph (a)(3)(iii), the word 
``incurred'' is revised to read ``made''.


Sec. 1485.23  [Corrected]

    11. In section 1485.23, paragraph (a)(2), in the second sentence, 
the phrase ``incurred in'' is revised to read ``for''.

    Signed at Washington, DC, on June 14, 1996.
August Schummacher, Jr.,
Administrator, Foreign Agricultural Service and Vice President, 
Commodity Credit Corporation.
[FR Doc. 96-15969 Filed 6-24-96; 8:45 am]
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