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S. 1049 (114th): Agricultural Export Expansion Act of 2015

The text of the bill below is as of Apr 22, 2015 (Introduced).


II

114th CONGRESS

1st Session

S. 1049

IN THE SENATE OF THE UNITED STATES

April 22, 2015

(for herself, Mr. Boozman, Mr. Udall, and Mr. Flake) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To allow the financing by United States persons of sales of agricultural commodities to Cuba.

1.

Short title

This Act may be cited as the Agricultural Export Expansion Act of 2015.

2.

Financing of sales of agricultural commodities to Cuba

(a)

In general

Notwithstanding any other provision of law (other than section 908 of the Trade Sanctions Reform and Export Enhancement Act of 2000 (22 U.S.C. 7207), as amended by subsection (c)), a person subject to the jurisdiction of the United States may provide payment or financing terms for sales of agricultural commodities to Cuba or an individual or entity in Cuba.

(b)

Definitions

In this section:

(1)

Agricultural commodity

The term agricultural commodity has the meaning given the term in section 102 of the Agricultural Trade Act of 1978 (7 U.S.C. 5602).

(2)

Financing

The term financing includes any loan or extension of credit.

(c)

Conforming amendment

Section 908 of the Trade Sanctions Reform and Export Enhancement Act of 2000 (22 U.S.C. 7207) is amended—

(1)

in the section heading, by striking and financing;

(2)

by striking subsection (b);

(3)

in subsection (a)—

(A)

by striking Prohibition and all that follows through (1) In general.—Notwithstanding and inserting In general.—Notwithstanding; and

(B)

by redesignating paragraphs (2) and (3) as subsections (b) and (c), respectively, and by moving those subsections, as so redesignated, 2 ems to the left; and

(4)

by striking paragraph (1) each place it appears and inserting subsection (a).