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1 1 (September 17, 2019)

handle is hein.crs/govbbbk0001 and id is 1 raw text is: Congressional *.Research Service The CCC Anomaly in an FY2020 Continuing Resolution September 17, 2019 In late August 2019, the Office of Management and Budget (OMB) requested a special provision for the Commodity Credit Corporation (CCC) among its list of appropriations issues for Congress to consider under a continuing resolution (CR). In addition to the general provisions that extend the previous year's appropriation for a specific term, CRs often include provisions that are specific to certain agencies, accounts, or programs. These anomalies are departures from a CR that modify the timing, amount, or purpose for which any referenced funding is extended. OMB cites the need for additional language in the CR to address the CCC anomaly and prevent the corporation from reaching its borrowing limit of $30 billion. The anomaly in a CR would provide CCC with its appropriation immediately upon enactment of the CR, instead of upon the usual schedule (i.e., after the completion of CCC's annual financial statement, which is typically in November). Without the anomaly in FY2020, CCC would still receive its appropriation under a CR, but it would be one to two months after enactment, which could potentially delay CCC-funded programming, including the Trump Administration's trade assistance to farmers affected by tariffs and 2018 farm bill payments. CCC Overview CCC is a wholly owned government corporation that exists solely to finance authorized programs that support U.S. agriculture. It is federally chartered by the CCC Charter Act of 1948 (P.L. 80-806; 15 U.S.C. §714 et seq.), as amended, and subject to the supervision and direction of the Secretary of Agriculture at U.S. Department of Agriculture (USDA). CCC is responsible for the direct (mandatory) spending and credit guarantees used to finance the federal government's agricultural commodity price support and related activities that are undertaken by authority of agricultural legislation (such as farm bills) or the CCC Charter Act itself Most CCC-funded programs are classified as mandatory spending programs and, therefore, do not require annual discretionary appropriations in order to operate. CCC instead borrows from the U.S. Treasury to finance its programs. CCC has permanent, indefinite authority to borrow up to $30 billion from the Treasury. Congress replenishes the CCC's borrowing authority through annual appropriations based on the net realized loss as provided in the corporation's financial statement at the close of each fiscal year (15 U.S.C. §713a-11). Congressional Research Service https://crsreports.congress.gov IN11168 CRS INSIGHT Prepared for Members and Committees of Congress

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