(a) Maximum expenditures

Except as provided in subsection (b) of this section, programs of assistance shall not be undertaken under this subchapter during any fiscal year if such programs necessitate an appropriation of more than $1,000,000,000 to reimburse the Commodity Credit Corporation for all costs incurred in connection with such programs (including the Corporation's investment in commodities made available).

(b) Waiver by President

The President may waive the limitation contained in subsection (a) of this section if the President determines that such waiver is necessary to undertake programs of assistance to meet urgent humanitarian or emergency needs.