,,ii #aai? ,,congress #b;d ,session ,s4 #edfa ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,septemb] #bc1 #bjbf,mr4 ,s*um] 7= himself & ,ms4 ,klobu*>7 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,agriculture1 ,nutrition1 & ,=e/ry ,a ,,bill ,to require a /udy to evaluate ! feasibility ( e/abli%+ a ,/rategic ,f]tiliz] ,res]ve = ! /orage & managem5t ( f]tiliz] products & f]tiliz] product inputs1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,/rategic ,f]tiliz] ,res]ve ,act ( #bjbf4 #b4 ,def9itions ,9 ?is ,act3 7#a7 ,agricultural coop]ative ,! t]m agricultural coop]ative means an organization or association =m$ by agricultural produc]s1 op]at+ = ! mutual b5efit ( its memb]s1 to collectively m>ket agricultural products1 pur*ase inputs1 or provide s]vices4 7#b7 ,bo>d ,! t]m ,bo>d means ! ,bo>d ( ,directors ( ! ,/rategic ,f]tiliz] ,res]ve ,ag5cy e/abli%$ "u section #e7;b74 7#c7 ,f]tiliz] product ,! t]m f]tiliz] product means-- 7,a7 nitrog51 phosphate1 or pota% f]tiliz]2 & 7,b7 su* o!r plant nutri5t products z ! ,bo>d may by regulation det]m9e are ess5tial to ,unit$ ,/ates agricultural production1 tak+ into consid]ation factors includ+-- 7i7 widespread use ( ! plant nutri5t product2 7ii7 lack ( sub/itute products available on ! m>ket2 7iii7 relative importance ( ! plant nutri5t product = ! production ( crops gr[n 9 ! ,unit$ ,/ates2 7iv7 vuln]ability ( ! plant nutri5t product to supply *a9 disruptions2 & 7v7 pot5tial economic h>m to agricultural produc]s if ! plant nutri5t product becomes unavailable or sev]ely re/rict$ 9 supply4 7#d7 ,f]tiliz] product input ,! t]m f]tiliz] product input means-- 7,a7 critical inputs necess>y to make nitrog51 phosphate1 or pota% f]tiliz]2 & 7,b7 su* o!r plant nutri5t product inputs z ! ,bo>d may by regulation det]m9e are ess5tial to ,unit$ ,/ates agricultural production1 tak+ into consid]ation factors includ+ ! factors describ$ 9 clauses 7i7 ?r\gh 7v7 ( p>agraph 7#c77;,b74 7#e7 ,res]ve ,! t]m ,res]ve means ! ,/rategic ,f]tiliz] ,res]ve e/abli%$ by section #f7;a74 7#f7 ,secret>y ,! t]m ,secret>y means ! ,secret>y ( ,agriculture4 #c4 ,f9d+s & purposes 7a7 ,f9d+s ,congress f9ds ! foll[+3 7#a7 ,f]tiliz]1 includ+ nitrog51 phosphate1 & pota% products1 is an ess5tial agricultural input & vital to ! /ability ( dome/ic & global food supplies4 7#b7 ,un/able f]tiliz] prices & supply disruptions 9 rec5t ye>s h significantly increas$ production co/s = f>m]s & ran*]s & ?reat5$ food security & rural economies4 7#c7 ,ris+ f]tiliz] prices squeeze already ?9 f>m m>g9s1 =c+ produc]s to cut back on inputs or acreage1 :i* c l[] yields & ultimately drive up food prices = ,unit$ ,/ates consum]s4 7#d7 ,conc5tration 9 global f]tiliz] m>kets & reliance on imports t transit *okepo9ts su* z ! ,/rait ( ,hormuz height5 ! vuln]ability ( ! ,unit$ ,/ates to supply %ocks & geopolitical risks4 7#e7 ,a f$]ally manag$ /rategic res]ve ( f]tiliz] product inputs1 simil> to ! ,/rategic ,petroleum ,res]ve1 c\ld help mitigate ! impacts ( sev]e supply disruptions1 price spikes1 & o!r m>ket em]g5cies1 includ+ ^? caus$ or exac]bat$ by avoidable policy-driv5 conflicts4 7b7 ,purposes ,! purposes ( ?is ,act are-- 7#a7 to require a /udy to evaluate-- 7,a7 ! feasibility ( e/abli%+ a ,/rategic ,f]tiliz] ,res]ve = ! /orage & managem5t ( f]tiliz] products & f]tiliz] product inputs2 7,b7 be/ practices = ! locations1 developm5t1 op]ation1 & ma9t5ance (1 & )drawals f1 ! ,/rategic ,f]tiliz] ,res]ve2 7,c7 be/ practices relat+ to em]g+ f]tiliz] te*nologies & nutri5t managem5t practices2 7,d7 ! e/abli%m5t ( an indep5d5t ag5cy ( ! ,unit$ ,/ates ,gov]nm5t1 to be kn[n z ! ,/rategic ,f]tiliz] ,res]ve ,ag5cy1 to r$uce ! impact ( disruptions 9 supplies ( f]tiliz] products on ,unit$ ,/ates agricultural produc]s & consum]s1 includ+ ^? aris+ f avoidable policy-driv5 conflicts & mismanagem5t ( =eign policy2 & 7,e7 means to ensure t ! managem5t & op]ation ( ! ,res]ve are conduct$ ) /rict conflict ( int]e/ safegu>ds & transp>5cy2 & 7#b7 to au?orize ! e/abli%m5t ( ! ,/rategic ,f]tiliz] ,res]ve & ! ,/rategic ,f]tiliz] ,res]ve ,ag5cy4 #d4 ,feasibility /udy 7a7 ,9 g5]al ,! ,secret>y %all conduct a /udy-- 7#a7 to inve/igate curr5t dome/ic f]tiliz] product production capacity & vuln]abilities1 su* z import dep5d5cy = f]tiliz] products1 critical *okepo9ts 9 f]tiliz] product di/ribution1 & m>ket conc5tration risks2 7#b7 to inve/igate ! feasibility ( /or+ f]tiliz] products 9 ! ,res]ve1 includ+ %elf life & degradation rates ( /or$ f]tiliz] products & associat$ rotation & drawd[n protocols2 7#c7 to inve/igate ! feasibility ( /or+ f]tiliz] product inputs 9 ! ,res]ve1 includ+ %elf life & degradation rates ( /or$ f]tiliz] product inputs1 associat$ rotation & drawd[n protocols1 & necess>y bl5d+ & process+ capacity2 7#d7 to inve/igate ! optimal ,res]ve size2 7#e7 to inve/igate ! effectiv5ess ( ! ,res]ve's price /abilization2 7#f7 to inve/igate ! type ( organization or comb9ation ( organizations t are be/ suit$ to op]ate ! ,res]ve2 7#g7 to inve/igate ! #a or m locations be/ suit$ to ho/ ! facilities ( ! ,res]ve1 :i* %all consid] proximity to bl5d+ facilities1 proximity to agricultural produc]s1 & ! climate resili5ce ( facility sites2 7#h7 to sugge/ ! optimal organizational /ructure = ! ,res]ve2 7#i7 to inve/igate ! situations 9 :i* )drawals or releases f ! ,res]ve w\ld help /abilize prices = ,unit$ ,/ates f>m]s2 7#aj7 to sugge/ risk managem5t measures = spills1 leaks1 fires1 & explosions2 7#aa7 to e/imate ! cyb]security & physical security requirem5ts = facilities ( ! ,res]ve2 7#ab7 to e/imate ! co/s necess>y to set up ! ,res]ve2 7#ac7 to e/imate ! annual co/ to ma9ta9 & op]ate ! ,res]ve2 7#ad7 to inve/igate dome/ic f]tiliz] supply *a9s1 includ+ regional disp>ities 9 access = ,unit$ ,/ates f>m]s2 & 7#ae7 to consid] o!r factors t ! ,secret>y consid]s to be important 9 sett+ up1 ma9ta9+1 & op]at+ ! ,res]ve4 7b7 ,det]m9ation ,bas$ on ! results ( ! /udy "u subsection 7a71 ! ,secret>y %all det]m9e :e!r to approve ! e/abli%m5t ( ! ,/rategic ,f]tiliz] ,res]ve ,ag5cy "u section #e1 ! ,/rategic ,f]tiliz] ,res]ve "u section #f1 & ! ,/rategic ,f]tiliz] ,res]ve ,fund "u section #h4 7c7 ,report ,n lat] ?an #ahj days aft] ! date on :i* funds are made available to ! ,secret>y to conduct ! /udy "u subsection 7a71 ! ,secret>y %all submit to ! ,committee on ,agriculture1 ,nutrition1 & ,=e/ry ( ! ,s5ate & ! ,committee on ,agriculture ( ! ,h\se ( ,repres5tatives a report describ+ ! f9d+s ( ! /udy & ! det]m9ation ( ! ,secret>y "u subsection 7b74 #e4 ,e/abli%m5t ( ,/rategic ,f]tiliz] ,res]ve ,ag5cy 7a7 ,e/abli%m5t ,on approval by ! ,secret>y "u section #d7;b71 !re is e/abli%$ z an indep5d5t ag5cy ( ! ,unit$ ,/ates ,gov]nm5t a body corporate1 to be kn[n z ! ,/rategic ,f]tiliz] ,res]ve ,ag5cy1 to develop & ov]see ! ,res]ve 9 accordance ) ?is ,act & in=m$ by ! f9d+s ( ! /udy "u section #d7;a74 7b7 ,bo>d ( ,directors 7#a7 ,9 g5]al ,!re is e/abli%$ a ,bo>d ( ,directors1 :i* %all be ! head ( ! ,ag5cy4 7#b7 ,composition ,! ,bo>d %all be compos$ ! foll[+ #i vot+ memb]s3 7,a7 ,! ,secret>y4 7,b7 #h memb]s1 ea* ( :om %all be appo9t$ by ! ,presid5t1 by & ) ! advice & cons5t ( ! ,s5ate4 7#c7 ,recomm5dations ,be=e ! initial appo9tm5t ( ! memb]s ( ! ,bo>d & be=e ! appo9tm5t ( any individual to fill a vacancy on ! ,bo>d1 ! ,majority ,lead] ( ! ,s5ate & ! ,m9ority ,lead] ( ! ,s5ate %all ea* submit to ! ,presid5t #b c&idate recomm5dations4 7#d7 ,qualifications 7,a7 ,9 g5]al ,memb]s ( ! ,bo>d-- 7i7 %all be individuals :o1 by reason ( _! education1 exp]i5ce1 & atta9m5ts1 are exceptionally qualifi$ to s]ve2 & 7ii7 %all collectively br+ sub/antial exp]tise 9 agriculture1 f]tiliz] m>kets & supply *a9s1 agricultural f9ance1 coop]ative gov]nance1 labor1 & rural economic developm5t4 7,b7 ,sector repres5tation ,9 mak+ appo9tm5ts "u ?is section1 ! ,presid5t %all1 to ! maximum ext5t practicable1 ensure repres5tation f ! foll[+ sectors3 7i7 ,r[ crop f>m]s4 7ii7 ,specialty crop produc]s4 7iii7 ,live/ock & dairy produc]s4 7iv7 ,beg9n+ & "y f>m]s4 7v7 ,small & mid-siz$ f>m]s4 7vi7 ,agricultural cr$itors4 7vii7 ,agricultural coop]atives4 7viii7 ,agricultural economi/s & supply *a9 exp]ts4 7,c7 ,geographic repres5tation ,9 mak+ appo9tm5ts "u ?is section1 ! ,presid5t %all1 to ! maximum ext5t practicable1 ensure div]se geographic repres5tation & make reasonable ef=ts to enc\rage racial1 e?nic1 & g5d] div]sity on ! ,bo>d4 7#e7 ,t]ms 7,a7 ,9 g5]al ,ea* vot+ memb] ( ! ,bo>d %all be appo9t$ = a t]m ( #d ye>s1 & may be reappo9t$ = n m ?an "o additional consecutive t]m4 7,b7 ,/agg]$ t]ms ,! t]ms ( ! memb]s ( ! ,bo>d %all be /agg]$ s t ! t]ms ( n m ?an #c memb]s expire 9 any s+le ye>4 7,c7 ,holdov] ,a memb] may cont9ue to s]ve aft] ! expiration ( ! memb]'s t]m until a successor has be5 appo9t$ & qualifi$4 7#f7 ,*air & vice *air 7,a7 ,9 g5]al ,! ,bo>d %all elect a ,*air & a ,vice ,*air f among ! memb]s ( ! ,bo>d = #b-ye> t]ms4 7,b7 ,act+ ,*air ,! ,vice ,*air %all act 9 place ( ! ,*air 9 ! abs5ce ( ! ,*air4 7#g7 ,quorum2 vot+ 7,a7 ,quorum ,a majority ( ! vot+ memb]s ( ! ,bo>d %all con/itute a quorum4 7,b7 ,vot+ ,any action ( ! ,bo>d %all require ! affirmative vote ( a majority ( ! memb]s pres5t & vot+4 7#h7 ,removal 7,a7 ,9 g5]al ,n lat] ?an #e days aft] remov+ a memb] ( ! ,bo>d f su* position1 ! ,presid5t %all submit to ! ,committee on ,agriculture ( ! ,h\se ( ,repres5tatives & ! ,committee on ,agriculture1 ,nutrition1 & ,=e/ry ( ! ,s5ate a writt5 /atem5t ( ! reasons = removal ( ! memb]4 7,b7 ,he>+s 7i7 ,9 g5]al ,if ! ,presid5t fails to timely submit a /atem5t "u subp>agraph 7,a71 or if ! /atem5t does n set =? specific1 detail$ reasons = removal ( ! memb] ( ! ,bo>d1 ! committees describ$ 9 t subp>agraph %all conduct jo9t ov]sight he>+s on ! removal ( ! memb] ( ! ,bo>d = :i* a /atem5t 0 requir$ n lat] ?an #fj days aft] ! miss$ submission deadl9e4 7ii7 ,witnesses ,any memb] ( ! ,bo>d = :i* a /atem5t 0 requir$ "u subp>agraph 7,a7 b 0 n submitt$1 or satisfactorily submitt$1 %all appe> z a witness dur+ a jo9t he>+4 7iii7 ,rulemak+ ,?is subp>agraph is enact$ z an ex]cise ( ! rulemak+ p[] ( ! ,h\se ( ,repres5tatives & ! ,s5ate4 7#i7 ,p]sonnel 7,a7 ,9 g5]al ,! ,bo>d may appo9t & fix ! pay ( su* /aff z ! ,bo>d consid]s necess>y to c>ry out ! duties ( ! ,bo>d4 7,b7 ,limitation ,no /aff appo9t$ "u subp>agraph 7,a7 may be comp5sat$ at an annual rate exce$+ ! daily equival5t ( ! annual rate ( basic pay 9 effect = grade ,,gs-#ae ( ! ,g5]al ,s*$ule4 7#aj7 ,comp5sation 7,a7 ,9 g5]al ,memb]s ( ! ,bo>d %all receive comp5sation equival5t to ! comp5sation paid = positions 9 level ,,iv ( ! ,executive ,s*$ule describ$ 9 section #ecae ( title #e1 ,unit$ ,/ates ,code1 prorat$ on a daily basis = "t sp5t engag$ 9 ! "w ( ! ,bo>d4 7,b7 ,travel exp5ses ,:ile engag$ 9 ! "w ( ! ,bo>d1 a memb] ( ! ,bo>d %all be paid actual travel exp5ses & p] diem 9 lieu ( subsi/5ce exp5ses :5 away f ! memb]'s usual place ( resid5ce 9 accordance ) sub*apt] ,i ( *apt] #eg ( title #e1 ,unit$ ,/ates ,code4 7,c7 ,p]sons o!rwise 9 gov]nm5t s]vice ,ea* memb] ( ! ,bo>d :o is o!rwise 9 ! s]vice ( ! ,f$]al ,gov]nm5t %all s]ve )\t comp5sation 9 addition to t receiv$ = su* o!r s]vice1 b :ile engag$ 9 ! "w ( ! ,bo>d %all be paid exp5ses pursuant to subp>agraph 7,b74 7,d7 ,prior approval = outside comp5sation 7i7 ,9 g5]al ,a memb] ( ! ,bo>d :o wi%es to engage 9 outside employm5t %all fir/ obta9 ! approval1 9 writ+1 ( ! ,designat$ ,ag5cy ,e?ics ,(ficial ( ! ,bo>d4 7ii7 ,volunte] pr(essional s]vices ,! ,designat$ ,ag5cy ,e?ics ,(ficial ( ! ,bo>d may g5]ally approve 9 advance volunte] pr(essional s]vices4 7iii7 ,/&>d = approval ,approval %all be grant$ by ! ,designat$ ,ag5cy ,e?ics ,(ficial ( ! ,bo>d "u ?is subp>agraph only on a det]m9ation t ! prospective outside employm5t is n expect$ to involve conduct prohibit$ by /atute or ,f$]al regulation1 includ+ "p #bfce ( title #e1 ,code ( ,f$]al ,regulations 7or successor regulations74 7iv7 ,*anges 9 nature or scope ,on a significant *ange 9 ! nature or scope ( ! outside employm5t approv$ "u ?is subp>agraph or ! (ficial position ( ! memb] ( ! ,bo>d1 ! memb] %all submit a revis$ reque/ = approval "u ?is subp>agraph4 7v7 ,rulemak+ ,n lat] ?an #ij days aft] ! date on :i* ! memb]s ( ! ,bo>d h be5 appo9t$1 ! ,bo>d %all promulgate regulations to c>ry out ?is subp>agraph4 #f4 ,e/abli%m5t ( ,/rategic ,f]tiliz] ,res]ve 7a7 ,e/abli%m5t ,on approval by ! ,secret>y "u section #d7;b71 !re is e/abli%$ 9 ! ,/rategic ,f]tiliz] ,res]ve ,ag5cy a ,/rategic ,f]tiliz] ,res]ve = ! /orage & managem5t ( f]tiliz] product inputs 9 accordance ) ?is ,act & in=m$ by ! f9d+s ( ! /udy "u section #d7;a74 7b7 ,policy ,x is ! policy ( ! ,unit$ ,/ates to provide = ! creation & ma9t5ance (1 & timely )drawals f1 ! ,res]ve-- 7#a7 to r$uce ! impact ( disruptions 9 supplies ( f]tiliz] products2 7#b7 to promote ! /ability ( f]tiliz] product prices paid by ,unit$ ,/ates agricultural produc]s2 7#c7 to r$uce ! impact ris+ input co/s h on ! co/ ( food = ,unit$ ,/ates consum]s2 & 7#d7 to support ! food security & national security ( ! ,unit$ ,/ates4 7c7 ,locations 7#a7 ,9 g5]al ,! ,res]ve may consi/ ( /orage & relat$ facilities locat$ at #a or m sites )9 ! ,unit$ ,/ates1 z det]m9$ by ! ,bo>d1 includ+ facilities own$ by ! ,unit$ ,/ates & facilities own$ by ?ird p>ties "u contract ) ! ,bo>d4 7#b7 ,requirem5t ,! location ( ! facilities describ$ 9 p>agraph 7#a7 %all ensure t ! f]tiliz] product inputs /or$ 9 ! facilities may be access$ to manufacture f]tiliz] product bl5ds n lat] ?an #ad days aft] ! date on :i* ! ,bo>d au?orizes a )drawal f ! ,res]ve4 #g4 ,au?orities ( ! ,bo>d ,to develop & ov]see ! ,res]ve1 ! ,bo>d %all-- 7#a7 issue su* rules1 regulations1 & ord]s z ! ,bo>d consid]s necess>y1 ) consid]ation ( ! recomm5dations ( ! /udy "u section #d7;a72 7#b7 acquire1 by pur*ase1 lease1 condemnation1 or o!rwise1 l& or int]e/s 9 l& = ! location ( /orage & relat$ facilities2 7#c7 con/ruct1 pur*ase1 lease1 or o!rwise acquire /orage & relat$ facilities = f]tiliz] product inputs2 7#d7 use1 lease1 ma9ta91 sell1 or o!rwise dispose ( l& or int]e/s 9 l&1 or ( /orage & relat$ facilities1 "u su* t]ms & conditions z ! ,bo>d consid]s necess>y & appropriate2 7#e7 execute any contracts necess>y to develop1 op]ate1 or ma9ta9 ! ,res]ve1 includ+ contracts = /orage1 transportation1 bl5d+1 packag+1 & relat$ s]vices2 7#f7 ensure t all /orage1 h&l+1 & transportation activities associat$ ) ! ,res]ve comply ) applicable ,f$]al1 ,/ate1 & local laws gov]n+ safety1 heal?1 labor1 & ! environm5t2 & 7#g7 take su* o!r actions z are necess>y & prop] to c>ry out ?is ,act4 #h4 ,/rategic ,f]tiliz] ,res]ve ,fund 7a7 ,e/abli%m5t ,on approval by ! ,secret>y "u section #d7;b71 !re is e/abli%$ 9 ! ,treasury ( ! ,unit$ ,/ates a sep>ate acc\nt1 to be kn[n z ! ,/rategic ,f]tiliz] ,res]ve ,fund 7ref]r$ to 9 ?is section z ! ,fund71 :i* %all be adm9i/]$ by ! ,bo>d 9 consultation ) ! ,secret>y ( ! ,treasury4 7b7 ,deposits ,!re %all be deposit$ into ! ,fund-- 7#a7 su* am\nts z may be appropriat$ to c>ry out ?is ,act2 7#b7 am\nts receiv$ f ! sale or ex*ange ( f]tiliz] product inputs f ! ,res]ve2 & 7#c7 su* o!r am\nts z may be au?oriz$ by law4 7c7 ,availability ,am\nts 9 ! ,fund %all be available to ! ,bo>d1 )\t fur!r appropriation or fiscal ye> limitation1 =-- 7#a7 ! acquisition1 /orage1 rotation1 & ma9t5ance ( f]tiliz] product inputs 9 ! ,res]ve2 7#b7 ! con/ruction1 lease1 op]ation1 & ma9t5ance ( /orage & relat$ facilities2 & 7#c7 adm9i/rative & ov]sight exp5ses relat$ to ! ,res]ve4 #i4 ,conflicts ( int]e/ & e?ics requirem5ts 7a7 ,def9itions ,9 ?is section3 7#a7 ,cov]$ contract ,! t]m cov]$ contract means a contract ) ! ,bo>d =-- 7,a7 ! con/ruction1 own]%ip1 op]ation1 or managem5t ( any /orage or relat$ facility us$ = ! ,res]ve2 or 7,b7 ! supply1 transportation1 or h&l+ ( f]tiliz] product inputs = ! ,res]ve4 7#b7 ,cov]$ entity ,! t]m cov]$ entity means any entity t ent]s into a cov]$ contract4 7#c7 ,cov]$ (ficial ,! t]m cov]$ (ficial means-- 7,a7 ! ,presid5t2 7,b7 ! ,vice ,presid5t2 7,c7 any individual s]v+ 9 a position 9 ! ,executive ,(fice ( ! ,presid5t2 7,d7 any memb] ( ! ,bo>d2 7,e7 any (fic] or employee ( ! ,/rategic ,f]tiliz] ,res]ve ,ag5cy2 & 7,f7 any o!r employee ( ! ,/rategic ,f]tiliz] ,res]ve ,ag5cy designat$ by ! ,bo>d by regulation z hav+ significant decision mak+ au?ority ) respect to ! ,res]ve4 7#d7 ,f9ancial int]e/ ,! t]m f9ancial int]e/ includes equity1 /ock1 p>tn]%ip %>es1 limit$ liability company int]e/s1 options1 w>rants1 b5eficial int]e/s held ?r\gh a tru/ or inve/m5t vehicle 7o!r ?an a widely held mutual fund or index fund71 or any o!r arrangem5t "u :i* ! applicable cov]$ (ficial or imm$iate family memb] may d]ive pecuni>y b5efit f ! p]=mance ( a cov]$ entity4 7#e7 ,imm$iate family memb] ,! t]m imm$iate family memb] means a sp\se1 dome/ic p>tn]1 p>5t1 *ild1 or sibl+1 includ+ any su* relation by m>riage4 7b7 ,prohibition on f9ancial int]e/s ,no cov]$ (ficial1 & no imm$iate family memb] ( a cov]$ (ficial1 may hold1 directly or indirectly1 any f9ancial int]e/ 9 any cov]$ entity4 7c7 ,c]tification2 disclosures 7#a7 ,9 g5]al ,be=e ent]+ into a cov]$ contract1 ! ,bo>d %all require ! cov]$ entity-- 7,a7 to c]tify t1 to ! be/ ( its k & belief1 no cov]$ (ficial or imm$iate family memb] ( any cov]$ (ficial holds a f9ancial int]e/ 9 ! cov]$ entity prohibit$ by subsection 7b72 & 7,b7 to fully disclose all lobby+ activities & lobbyi/ engagem5ts relat$ to ! program "u ?is ,act or any o!r matt] involv+ ! ,bo>d or o!r ,f$]al ag5cies t h a direct & pr$ictable effect on ! cov]$ contract4 7#b7 ,disclosure reports ,! ,bo>d %all require ea* cov]$ (ficial1 on an annual basis & on assum+ a position z a cov]$ (ficial1 to file a confid5tial report disclos+ any f9ancial int]e/s t may be relevant "u subsection 7b74 7d7 ,recusal & dive/iture 7#a7 ,9 g5]al ,any cov]$ (ficial :o becomes aw>e t ! cov]$ (ficial or an imm$iate family memb] ( ! cov]$ (ficial holds a f9ancial int]e/ prohibit$ by subsection 7b7 %all promptly-- 7,a7 notify ! designat$ ag5cy e?ics (ficial ( ! ,bo>d2 & 7,b7 ei!r-- 7i7 dive/ ( ! f9ancial int]e/2 or 7ii7 recuse himself or h]self f any (ficial action affect+ ! cov]$ entity 9 :i* ! f9ancial int]e/ is held1 9 accordance ) applicable e?ics laws 7includ+ regulations74 7#b7 ,regulations ,! ,bo>d %all issue regulations e/abli%+ proc$ures & timel9es = dive/iture & recusal "u clauses 7i7 & 7ii7 ( p>agraph 7#a77;,b74 7e7 ,en=cem5t 7#a7 ,cov]$ (ficials ,a kn[+ & willful violation ( subsection 7b71 7c77#b71 or 7d7 by a cov]$ (ficial-- 7,a7 %all be gr\nds = discipl9>y action1 up to & includ+ removal f (fice2 & 7,b7 may be ref]r$ to ! ,(fice ( ,gov]nm5t ,e?ics & appropriate law en=cem5t au?orities = inve/igation & pot5tial prosecution "u applicable crim9al or civil conflict ( int]e/ /atutes1 includ+ sections #bja ?r\gh #bji ( title #ah1 ,unit$ ,/ates ,code1 & relat$ provisions4 7#b7 ,cov]$ entities ,a kn[+ & willful false c]tification or disclosure by a cov]$ entity "u subsection 7c77#a7-- 7,a7 %all con/itute a mat]ial brea* ( ! cov]$ contract2 & 7,b7 may result 9 susp5sion1 deb>m5t1 civil p5alties1 or o!r rem$ies z provid$ by law4 7f7 ,public transp>5cy ,to ! ext5t consi/5t ) law & ! protection ( confid5tial bus9ess in=mation1 ! ,bo>d %all make publicly available-- 7#a7 a li/ ( cov]$ entities2 & 7#b7 a g5]al description ( ! e?ics & conflict ( int]e/ policies applicable to ! ,res]ve4 #aj4 ,reports to ,congress 7a7 ,annual report ,n lat] ?an #a ye> aft] ! date ( e/abli%m5t ( ! ,res]ve1 & annually !reaft]1 ! ,bo>d %all submit to ! ,committee on ,agriculture1 ,nutrition1 & ,=e/ry ( ! ,s5ate & ! ,committee on ,agriculture ( ! ,h\se ( ,repres5tatives a report t-- 7#a7 describes ! inv5tory ( f]tiliz] product inputs 9 ! ,res]ve1 by product type & location2 7#b7 summ>izes any acquisitions1 sales1 ex*anges1 or o!r releases ( f]tiliz] product inputs dur+ ! prec$+ ye>2 7#c7 evaluates ! condition & capacity ( /orage & relat$ facilities2 7#d7 describes any )drawal ev5ts & _! effects on f]tiliz] availability & prices2 & 7#e7 provides in=mation on compliance ) ! requirem5ts "u section #i4 7b7 ,,gao review ,n lat] ?an #e ye>s aft] ! date ( e/abli%m5t ( ! ,res]ve1 ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all-- 7#a7 conduct a review ( ! effectiv5ess ( ! ,res]ve 9 meet+ ! purposes ( ?is ,act2 & 7#b7 submit to ! committees describ$ 9 subsection 7a7 a report describ+ ! f9d+s ( ! review "u p>agraph 7#a7 & any recomm5dations4 #aa4 ,regulations 7a7 ,9 g5]al ,n lat] ?an #ahj days aft] ! date ( e/abli%m5t ( ! ,res]ve1 ! ,bo>d %all promulgate su* regulations z are necess>y to c>ry out ?is ,act1 includ+ regulations e/abli%+-- 7#a7 protocols = acquisition1 ma9t5ance1 & rotation ( f]tiliz] products or f]tiliz] product inputs to be /or$ 9 ! ,res]ve2 7#b7 crit]ia & proc$ures = det]m9+ :5 a )drawal & release ( ! ,res]ve is w>rant$2 7#c7 te*nical & safety /&>ds = /orage & h&l+ ( f]tiliz] product inputs2 & 7#d7 detail$ e?ics & conflict ( int]e/ proc$ures consi/5t ) section #i4 7b7 ,consid]ation ,9 promulgat+ ! regulations "u subsection 7a71 ! ,bo>d %all consid] ! recomm5dations ( ! /udy conduct$ "u section #d7;a74 #ab4 ,au?orization ( appropriations ,!re are au?oriz$ to be appropriat$ su* sums z are necess>y to c>ry out ?is ,act4