[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]
BILLING CODE 3410-05-M
