§2763 Credit Sales

This chapter, referred to in subsecs. (a), (g)(1), and (h), was in the original “this Act”, meaning Pub. L. 90–629, Oct. 22, 1968, 82 Stat. 1321, which is classified principally to this chapter. For complete classification of this Act to the Code, see

note set out under section 2751 of this title and Tables. The Foreign Assistance Act of 1961, referred to in subsec. (g)(1), is Pub. L. 87–195, Sept. 4, 1961, 75 Stat. 424, which is classified principally to chapter 32 (§ 2151 et seq.) of this title. For complete classification of this Act to the Code, see

note set out under section 2151 of this title and Tables.

1996—Subsecs. (f) to (h). Pub. L. 104–164 added subsecs. (f) to (h). 1990—Subsec. (e). Pub. L. 101–513 added subsec. (e). 1987—Subsec. (a). Pub. L. 100–202 inserted sentence at end authorizing financing to Israel and Egypt for commercial leasing of defense articles, not including Major Defense Equipment, with exception for certain aircraft, upon a Presidential determination that there are compelling foreign policy or national defense reasons for such leasing. 1985—Pub. L. 99–83 amended section generally. Prior to amendment, section read as follows: “The President is authorized to finance procurements of defense articles, defense services, and design and

services by friendly foreign countries and international organizations on terms requiring the payment to the United States Government in United States dollars of— “(1) the value of such articles or services within a period not to exceed twelve years after the delivery of such articles or the rendering of such services; and “(2) interest on the unpaid balance of that obligation for payment of the value of such articles or services, at a rate equivalent to the current average interest rate, as of the last day of the month preceding the financing of such procurement, that the United States Government pays on outstanding marketable obligations of comparable maturity, unless the President certifies to Congress that the national interest requires a lesser rate of interest and states in the certification the lesser rate so required and the justification therefor.” 1980—Pub. L. 96–533 substituted “defense articles, defense services, and design and

services” for “defense articles and defense services”. 1976—Par. (1). Pub. L. 94–329 substituted “twelve years” for “ten years”. 1974—Pub. L. 93–559 incorporated existing provisions in cl. (1) and added cl. (2).

of 1985 AmendmentAmendment by Pub. L. 99–83 effective Oct. 1, 1985, see section 1301 of Pub. L. 99–83, set out as a note under section 2151–1 of this title.

.“This Act may be cited as the ‘Eastern European Security Act’. “SEC. 2. SENSE OF CONGRESS.“It is the sense of Congress that it is in the national security interest of the United States to—“(1) deter aggression against North Atlantic Treaty Organization (NATO) allies by Russia or any other adversary; “(2) assist NATO allies in acquiring and deploying modern, NATO interoperable military equipment and reducing their dependence on Russian or former Soviet-era defense articles; “(3) ensure that NATO allies meet alliance defense commitments, including through adequate investments in national defense; “(4) supplement existing grant assistance to key allies through foreign military financing loans, at rates competitive with those already available on commercial markets, to purchase NATO-interoperable military equipment; and “(5) work to maintain and strengthen the democratic institutions and practices of all NATO allies, in accordance with the goals of Article 2 of the North Atlantic Treaty. “SEC. 3. FOREIGN MILITARY LOAN AUTHORITY.“(a) In General.—Beginning in fiscal year 2021, subject to the notification requirements under subsection (b) and to the availability of appropriations, the President, acting through the Secretary of State, is authorized—“(1) to make direct loans under section 23 of the Arms Export Control Act (22 U.S.C. 2763) to NATO member countries that joined the alliance after March 1, 1999, notwithstanding the minimum interest rate required by subsection (c)(1) of such section; and “(2) to charge fees for such loans under paragraph (1), which shall be collected from borrowers in accordance with section 502(7) of the Congressional Budget Act of 1974 [2 U.S.C. 661a(7)], and which may be used to cover the costs of such loans as defined in section 502 of the Congressional Budget Act of 1974 [2 U.S.C. 661a]. “(b) Notification.—A loan may not be made under the authority provided by subsection (a) unless the Secretary of State submits to the appropriate congressional committees a certification, not fewer than fifteen days before entering into an agreement to make such loan, that—“(1) the recipient country is making demonstrable progress toward meeting its defense spending commitments in accordance with the 2014 NATO Wales Summit Declaration; and “(2) the government of such recipient country is respecting that country’s constitution and upholds democratic values such as freedom of religion, freedom of speech, freedom of the press, the rule of law, and the rights of religious minorities. “(c) Repayment.—A loan made under the authority provided by subsection (a) shall be repaid in not more than 12 years, but may include a grace period of up to 1 year on the repayment of the principal. “(d) Appropriate Congressional Committees Defined.—In this Act, the term ‘appropriate congressional committees’ means—“(1) the Committee on Foreign Affairs and the Committee on Appropriations of the House of Representatives; and “(2) the Committee on Foreign Relations and the Committee on Appropriations of the Senate.”

Delegation of Functions For delegation of functions of the President under this section and section 7069 of div. I of Pub. L. 112–74 (see Similar Provisions note below), with certain conditions and exceptions, see section 1(e) of Ex. Ord. No. 13637, Mar. 8, 2013, 78 F.R. 16129, set out as a note under section 2751 of this title. Functions were previously delegated by Ex. Ord. No. 11958, which was formerly set out as a note under section 2751 of this title and was revoked, subject to a

, by section 4 of Ex. Ord. No. 13637.