§1531 Buying Power Maintenance Accounts for International Trade Administration, Export Administration, and United States Travel and Tourism Administration

Summary

The Secretary of Commerce may set up Buying Power Maintenance accounts for the International Trade Administration, the Export Administration, and the United States Travel and Tourism Administration to keep overseas programs funded at the approved level each fiscal year. Congress may provide whatever money is needed in those accounts to cover bad changes in foreign exchange rates or unplanned overseas wage and price increases. If currency or price changes create more money than needed, the Secretary must move the excess into these accounts. The Secretary can also move money out of a Buying Power Maintenance account when needed to keep overseas operations at their approved level. Money moved into or out of an account becomes part of the receiving account and can be used for the same purpose and time period as that account. Limits in appropriation laws are treated as adjusted when needed to offset the net effect of these currency, wage, or price changes so approved program levels are maintained.