To clarify the payment terms under the Trade Sanctions Reform and Export Enhancement Act of 2000.

SA 282. Mr. CRAIG (for himself and Mr. Roberts) proposed an amendment to amendment SA 281 proposed by Mr. Baucus (for himself and Mr. Harkin) to the bill S. 600, to authorize appropriations for the Department of State and international broadcasting activities for fiscal years 2006 and 2007, for the Peace Corps for fiscal years 2006 and

2007, for foreign assistance programs for fiscal years 2006 and 2007, and for other purposes; as follows:

In the matter proposed to be added, strike section 2905 and insert the following:

SEC. 2905. CLARIFICATION OF PAYMENT TERMS UNDER TRADE SANCTIONS REFORM AND EXPORT ENHANCEMENT ACT OF 2000.

(a) In General.--Section 908(b)(1) of the Trade Sanctions Reform and Export Enhancement Act of 2000 (22 U.S.C. 7207(b)(1)) is amended by inserting after subparagraph (B) the following:

“(C) Notwithstanding any other provision of law, the term ‘payment of cash in advance' means the payment by the purchaser of an agricultural commodity or product and the receipt of such payment by the seller prior to--

“(i) the transfer of title of such commodity or product to the purchaser; and

“(ii) the release of control of such commodity or product to the purchaser.”.

(b) Effective Date.--The amendment made by this section shall take effect on February 22, 2005.