§2355 Retention and Use of Certain Items and Funds

Summary

Lets U.S. agencies keep or take back commodities and defense items bought under this law instead of sending them abroad when the President thinks it’s best or when Congress says so by a concurrent resolution. If an agency keeps them, it can get rid of or transfer them without following the usual federal property rules when that is needed to prevent spoilage, waste, or to keep them useful. Money from any sale or transfer must go back to the same government account that paid for them or to the account now used for the same purpose. Commodities returned to the United States as repayment can be used again for the program’s purposes. Money that comes in because a financed deal broke the rules, regulations, or contract must go back to the account that paid for that deal or to the account now used for the same purpose. If a foreign recipient returns defense items because they aren’t needed and the U.S. sells or disposes of them, the proceeds go back to the account that bought them or to the account now used for the same purpose.