§2902 Japan-united States Friendship Trust Fund

Summary

The law creates a trust fund in the U.S. Treasury called the Japan-United States Friendship Trust Fund. Money in the Fund must be used to support scholarly, cultural, and artistic ties between Japan and the United States. That includes support for higher-education and research studies (including language study), major library collections of Japanese or American books, arts programs, graduate and faculty fellowships and scholarships, visiting professors and lecturers, and other education and cultural activities that fit the Fund’s purpose. The Fund can also pay administrative costs of the Japan-United States Friendship Commission when the Commission directs it. For fiscal year 1976, Congress may put into the Fund an amount equal to 7.5% of the total funds payable to the United States under the Agreement about the Ryukyu and Daito Islands signed June 17, 1971. Congress may also appropriate funds from U.S. accounts in Japan transferred under the January 9, 1962 GARIOA agreement, including interest, except any amounts that must be used for U.S. participation in the International Ocean Exposition in Okinawa. Any authorized but unspent amounts for 1976 may be appropriated in later years.