22 U.S.C. § 2344 | Reimbursements

(a)

Separate fund account; transfers to such account

Whenever funds made available for use under subchapter II of this chapter have been or are used to furnish military assistance on cash or credit terms, United States dollar repayments, including dollar proceeds derived from the sale of foreign currency repayments to any agency or program of the United States Government, receipts received from the disposition of evidences of indebtedness and charges (including fees and premiums) or interest collected shall be credited to a separate fund account, and shall be available until expended solely for the purpose of financing sales and guaranties, including the overhead costs thereof, and, notwithstanding any provision of law relating to receipts and credits accruing to the United States Government, repayments in foreign currency may be used to carry out subchapter II of this chapter. Such amounts of the appropriations made available under subchapter II of this chapter (including unliquidated balances of funds heretofore obligated for financing sales and guarantees) as may be determined by the President shall be transferred to, and merged with, the separate fund account.

(b)

Termination of account; special account for discharge of Federal liabilities and obligations; general fund for excess moneys

(1)

June 30, 1968 The special fund account established under subsection (a) of this section shall terminate as of the end of , or on such earlier date as may be selected by the President.

(2)

June 30, 1968 Upon the termination of such fund account pursuant to paragraph (1), all of the assets of such fund account (including loans and other payments receivable) shall be transferred to a special account in the Treasury, which special account shall be available solely for the purpose of discharging outstanding liabilities and obligations of the United States arising out of credit sales agreements entered into, and guaranties issued, under subchapter II of this chapter prior to . Any moneys in such special account in excess of the aggregate United States dollar amount of such liabilities and obligations shall be transferred from time to time to the general fund of the Treasury.

Pub. L. 87–195Sept. 4, 196175 Stat. 437 Pub. L. 89–171Sept. 6, 196579 Stat. 657 Pub. L. 89–583Sept. 19, 196680 Stat. 803 Pub. L. 90–137Nov. 14, 196781 Stat. 456 Pub. L. 90–629Oct. 22, 196882 Stat. 1327 (, pt. II, § 524, formerly § 508, , ; , pt. II, § 201(e), , ; , pt. II, § 201(c), , ; renumbered § 524 and amended , pt. II, § 201(h), , ; , ch. 4, § 45(a), , .)

Editorial Notes

Codification

section 2316 of this titleSection was formerly classified to .

Amendments

Pub. L. 90–629 section 2763 of this title1968—Subsec. (b)(3). repealed provisions of par. (3) which related to appropriations for financing sales, dollar value payments, general fund for payments, and exempt transactions, and is now covered by .

Pub. L. 90–1371967— designated existing provisions as subsec. (a) and added subsec. (b).

Pub. L. 89–5831966— provided for transfer to and merger with the separate fund account of such amounts of available appropriations (including unliquidated balances of funds heretofore obligated for financing sales and guarantees) as is determined by the President.

Pub. L. 89–1711965— inserted “receipts received from the disposition of evidences of indebtedness and charges (including fees and premiums) or interest collected” and substituted “have been or are used” for “are used” and “financing sales and guaranties, including the overhead costs thereof” for “furnishing further military assistance on cash or credit terms.”

Statutory Notes and Related Subsidiaries

References to Subchapter II Deemed To Exclude Certain Parts of Subchapter II

section 202(b) of Pub. L. 92–226 section 2346 of this titleReferences to subchapter II of this chapter are deemed to exclude parts IV (§ 2346 et seq.), VI (§ 2348 et seq.), and VIII (§ 2349aa et seq.) of subchapter II, and references to subchapter I of this chapter are deemed to include such parts. See , set out as a note under , and sections 2348c and 2349aa–5 of this title.

Effective Date of 1968 Amendment

Pub. L. 90–629July 1, 1968section 41 of Pub. L. 90–629 section 2751 of this titleAmendment by effective , see , set out as an Effective Date note under .

Savings Provision

section 46 of Pub. L. 90–629 section 2341 of this titleDeterminations, authorizations, regulations, orders, contracts, agreements, and other actions issued, undertaken, or entered into under authority of any provision of former subsec. (b)(3) of this section as continuing in full force and effect until modified by appropriate authority, see , set out as a note under former .

Increases in Military Assistance Programs; Reports to Congress on Presidential Determinations

Pub. L. 91–194, title I, § 100Feb. 9, 197084 Stat. 7 , , , in part, limited increases in the military assistance program for any country to twenty per cent of the amount justified to Congress unless the President determined that such an increase was essential to the national interest of the United States and reported such determination to the Congress within thirty days after each such determination.

Pub. L. 90–249, title I, § 100Jan. 2, 196881 Stat. 937 Pub. L. 90–581, title I, § 100Oct. 17, 196882 Stat. 1138 Similar provisions were contained in , , ; , , .

Expenditures by Underdeveloped Countries for Weapons Systems; Presidential Determination; Report to Congress

Pub. L. 91–194, title I, § 119Feb. 9, 197084 Stat. 10 , , , directed the President to withhold economic assistance in an amount equivalent to the amount spent by any underdeveloped country for the purchase of sophisticated weapons systems from any country other than certain enumerated countries, unless the President determined that such a purchase was important to the national security of the United States and reported such determination to Congress within thirty days after each such determination.

Pub. L. 90–249, title I, § 119Jan. 2, 196881 Stat. 940 Pub. L. 90–581, title I, § 119Oct. 17, 196882 Stat. 1141 Similar provisions were contained in , , ; , , .

Arms Races and Weapons Systems Restraints; Prohibitions Against Diversion of Resources for Economic and Agricultural Development to Military Purposes

Pub. L. 91–194, title I, § 120Feb. 9, 197084 Stat. 10 Pub. L. 110–246, title III, § 3001(c)June 18, 2008122 Stat. 1821

“(a)

Pub. L. 91–194 7 U.S.C. 1691 In order to restrain arms races and proliferation of sophisticated weapons, and to ensure that resources intended for economic development are not diverted to military purposes, the President shall take into account before furnishing development loans, Alliance loans, or supporting assistance to any country under this Act [], and before making sales under the Food for Peace Act, as amended [ et seq.]:

“(1)

the percentage of the recipient or purchasing country’s budget which is devoted to military purposes,

“(2)

the degree to which the recipient or purchasing country is using its foreign exchange resources to acquire military equipment; and

“(3)

the amount spent by the recipient or purchasing country for the purchase of sophisticated weapons systems, such as missile systems and jet aircraft for military purposes, from any country.

“(b)

The President shall report annually to the Speaker of the House of Representatives and the Committee on Foreign Relations of the Senate his actions in carrying out this provision.”

, , , as amended by , , , provided that:

Executive Documents

Delegation of Functions

Sept. 29, 1979section 2381 of this titleFor delegation of functions of President under this section, see Ex. Ord. No. 12163, , 44 F.R. 56673, as amended, set out as a note under .