The Corporation shall at all times maintain complete and accurate books of account and shall file annually with the Secretary of Agriculture a complete report as to the business of the Corporation, a copy of which shall be forwarded by the Secretary of Agriculture to the President for transmission to the Congress. In addition to the annual report, the Corporation shall submit to Congress on a quarterly basis an itemized report of all expenditures over $10,000 made under section
714i of this title during the period covered by the report, including expenditures in the form of allotments or fund transfers to other agencies and departments of the Federal Government.
1996—Pub. L. 104–127inserted at end “In addition to the annual report, the Corporation shall submit to Congress on a quarterly basis an itemized report of all expenditures over $10,000 made under section
714i of this title during the period covered by the report, including expenditures in the form of allotments or fund transfers to other agencies and departments of the Federal Government.”
Termination of Reporting Requirements
For termination, effective May 15, 2000, of provisions of law requiring submittal to Congress of any annual, semiannual, or other regular periodic report listed in House Document No. 103–7 (in which the requirement, under the 1st sentence of this section, to transmit to Congress a complete annual report as to the business of the Corporation, is listed on page 46), see section 3003 ofPub. L. 104–66, as amended, and section
1(a)(4) [div. A, § 1402] of Pub. L. 106–554, set out as notes under section
1113 of Title
31, Money and Finance.
Exceptions From Transfer of Functions
For exception of functions of corporations of Department of Agriculture from transfer of functions to Secretary of Agriculture by Reorg. Plan No. 2 of 1953, see Exceptions From Transfer of Functions note set out under section
712a of this title.
Delegation of Certain Reporting Authority
Memorandum of President of the United States, Dec. 8, 2004, 69 F.R. 74941, provided:
Memorandum for the Secretary of Agriculture
By the authority vested in me as President by the Constitution and the laws of the United States, including section
301 of title
3, United States Code, I hereby delegate to you the functions conferred upon the President by section 13 of Public Law 806, 80th Congress (15 U.S.C. 714k), to provide the specified report to the Congress.
You are authorized and directed to publish this memorandum in the Federal Register.
George W. Bush.
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