§2396a — Title 22 Foreign Relations and Intercourse | U.S. Code

Summary

Money from overseas property the Agency for International Development acquires can be put into a special account called the Property Management Fund. That money can only be used for the same purposes allowed when the Agency bought the property and for upkeep, and it remains available until spent. The Administrator must report every use of the fund in the Agency’s annual materials sent to Congress. This rule covers property acquired before November 5, 1990, and any acquired after that date.

Title 22, §2396a

Foreign Relations and Intercourse — Source: USLM XML via OLRC

(a)The proceeds of overseas property acquired by the Agency for International Development under the authority of section 2396(c) of this title may be deposited in a separate fund, which shall be known as the Property Management Fund. Such proceeds shall be available for use only for the purposes of section 2396(c) of this title and for maintenance, and shall remain available until expended. The Administrator of the Agency for International Development shall report all uses of funds deposited into the Property Management Fund as part of the annual Congressional Presentation materials submitted by the Agency for International Development.

(b)The provisions of subsection (a) shall be applicable to property acquired prior to November 5, 1990, and at any time thereafter.

Notes & Related Subsidiaries

Editorial Notes

Codification Section was enacted as part of the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1991, and not as part of the Foreign Assistance Act of 1961 which comprises this chapter.

Amendments

2014—Subsec. (a). Pub. L. 113–76 inserted “and for maintenance” after “purposes of section 2396(c) of this title”.

§2396a Property Management Fund

Summary

Title 22, §2396a

Notes & Related Subsidiaries

Editorial Notes

Amendments

Citations & Metadata