Title 40 › Subtitle SUBTITLE I— FEDERAL PROPERTY AND ADMINISTRATIVE SERVICES › Chapter 7— FOREIGN EXCESS PROPERTY › § 701
The President can set policies needed to put this chapter into action. The policies must agree with the chapter. If a federal agency has extra property overseas, the agency head must handle getting rid of it. The agency head must follow the President’s policies and make sure disposal fits U.S. foreign policy. The head can delegate that authority to someone in the agency or to another agency, and can allow further redelegation. The head may hire and set pay for staff in the United States under chapters 33 and 51 and subchapter III of chapter 53 of title 5, and may hire staff outside the States and the District of Columbia without following chapter 33 of title 5. The Secretary of State can use foreign currencies and credits the United States got under section 704(b)(2) to support the Mutual Educational and Cultural Exchange Act of 1961 (22 U.S.C. 2451 et seq.), the Foreign Service Buildings Act, 1926 (22 U.S.C. 292 et seq.), and other government costs payable in local money. Unless the President says otherwise, the Secretary must keep carrying out agreements in effect on July 1, 1949, and may change or renew them. The Secretary of the Treasury may set rules for handling those foreign funds. If the funds are converted to U.S. dollars, they must be deposited in the Treasury as miscellaneous receipts.
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Public Buildings, Property, and Works — Source: USLM XML via OLRC
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Citation
40 U.S.C. § 701
Title 40 — Public Buildings, Property, and Works
Last Updated
Apr 5, 2026
Release point: 119-73not60