The NFA Reorganization Act will further rationalize grains-sector trading. It restructures the agency by separating its regulatory and proprietary functions. The NFA shall grant import permits for rice to all applicants as a ministerial function, subject to the payment of applicable taxes, duties, and service fees. The quantitative restriction on rice must be reviewed in light of the WTO exemption that expires in 2012. The proposed law enables NFA to engage in activities consistent with its renewed mandate.