§2109 Foreign Currency Fluctuations Account

Summary

Creates a Treasury account called the “Foreign Currency Fluctuations, American Battle Monuments Commission, Account.” It must pay extra salary and expense costs caused by changes in foreign exchange rates that happen after the Commission’s budget is sent to Congress. The account can only be used for that purpose. Yearly spending limits for the Commission must be raised as needed to reflect those exchange rate changes. Money in the account can be transferred into the Commission’s salaries and expenses appropriation and will be merged and available for the same time period. If transferred money is later not needed because exchange rates move favorably or other funds cover the costs, it can be moved back to the account, but not after the end of the second fiscal year following the fiscal year in which the appropriation was available. The Commission may record foreign-currency obligations using the budget’s exchange rates and adjust when payments are made. Unused parts of the salaries and expenses appropriation may be moved into the account no later than the end of the second fiscal year after the year the appropriation was made. The Commission must report each year to the appropriate Congressional committees about transfers. Up to $3,000,000 is authorized to be added to the account.