Title 22 — Foreign Relations and Intercourse
Part III · Chapter 32 — Foreign Assistance
§ 2344. Reimbursements
Statutory text
Separate fund account; transfers to such account
Whenever funds made available for use under subchapter II of this chapter have been or are used to furnish military assistance on cash or credit terms, United States dollar repayments, including dollar proceeds derived from the sale of foreign currency repayments to any agency or program of the United States Government, receipts received from the disposition of evidences of indebtedness and charges (including fees and premiums) or interest collected shall be credited to a separate fund account, and shall be available until expended solely for the purpose of financing sales and guaranties, including the overhead costs thereof, and, notwithstanding any provision of law relating to receipts and credits accruing to the United States Government, repayments in foreign currency may be used to carry out subchapter II of this chapter. Such amounts of the appropriations made available under subchapter II of this chapter (including unliquidated balances of funds heretofore obligated for financing sales and guarantees) as may be determined by the President shall be transferred to, and merged with, the separate fund account.
Termination of account; special account for discharge of Federal liabilities and obligations; general fund for excess moneys
The special fund account established under subsection (a) of this section shall terminate as of the end of , or on such earlier date as may be selected by the President.
Upon the termination of such fund account pursuant to paragraph (1), all of the assets of such fund account (including loans and other payments receivable) shall be transferred to a special account in the Treasury, which special account shall be available solely for the purpose of discharging outstanding liabilities and obligations of the United States arising out of credit sales agreements entered into, and guaranties issued, under subchapter II of this chapter prior to . Any moneys in such special account in excess of the aggregate United States dollar amount of such liabilities and obligations shall be transferred from time to time to the general fund of the Treasury.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Pub. L. 87–195 · 75 Stat. 424
Enacted · 22 U.S.C. § 2344
Pub. L. 87–195, pt. II, § 524, formerly § 508, Sept. 4, 1961, 75 Stat. 437
Source evidence
Code source credit
Pub. L. 87–195, pt. II, § 524, formerly § 508, Sept. 4, 1961, 75 Stat. 437Foreign Assistance Act of 1965
Pub. L. 89–171 · 79 Stat. 653
Inserted · 22 U.S.C. § 2344
Pub. L. 89–171 inserted “receipts received from the disposition of evidences of indebtedness and charges (including fees and premiums) or interest collected”
Substituted · 22 U.S.C. § 2344
Pub. L. 89–171 substituted “have been or are used” for “are used”
Substituted · 22 U.S.C. § 2344
Pub. L. 89–171 substituted “financing sales and guaranties, including the overhead costs thereof” for “furnishing further military assistance on cash or credit terms.”
Source evidence
Code amendment note
Pub. L. 89–171 inserted “receipts received from the disposition of evidences of indebtedness and charges (including fees and premiums) or interest collected” and substituted “have been or are used” for “are used” and “financing sales and guaranties, including the overhead costs thereof” for “furnishing further military assistance on cash or credit terms.”Foreign Assistance Act of 1966
Pub. L. 89–583 · 80 Stat. 795
Changed · 22 U.S.C. § 2344
Pub. L. 89–583 provided for transfer to and merger with the separate fund account of such amounts of available appropriations (including unliquidated balances of funds heretofore obligated for financing sales and guarantees) as is determined by the President
Source evidence
Code amendment note
Pub. L. 89–583 provided for transfer to and merger with the separate fund account of such amounts of available appropriations (including unliquidated balances of funds heretofore obligated for financing sales and guarantees) as is determined by the President.Foreign Assistance Act of 1967
Pub. L. 90–137 · 81 Stat. 445
Amended · 22 U.S.C. § 2344
Pub. L. 90–137 designated existing provisions as subsec. (a)
Added · 22 U.S.C. § 2344
Pub. L. 90–137 added subsec. (b)
Source evidence
Code amendment note
Pub. L. 90–137 designated existing provisions as subsec. (a) and added subsec. (b).The Foreign Military Sales Act
Pub. L. 90–629 · 82 Stat. 1320
Repealed · 22 U.S.C. § 2344(b)(3)
Pub. L. 90–629 repealed provisions of par. (3) which related to appropriations for financing sales, dollar value payments, general fund for payments, and exempt transactions, and is now covered by section 2763 of this title
Source evidence
Code amendment note
Subsec. (b)(3). Pub. L. 90–629 repealed provisions of par. (3) which related to appropriations for financing sales, dollar value payments, general fund for payments, and exempt transactions, and is now covered by section 2763 of this title.Effective date note
Amendment by Pub. L. 90–629 effective July 1, 1968, see section 41 of Pub. L. 90–629, set out as an Effective Date note under section 2751 of this title.
0 of 8 references resolved to an enrolled provision · 8 partial
Editorial Notes
Codification
Section was formerly classified to section 2316 of this title.
Amendments1965–1968 · 4 rounds
1968
Subsec. (b)(3). Pub. L. 90–629 repealed provisions of par. (3) which related to appropriations for financing sales, dollar value payments, general fund for payments, and exempt transactions, and is now covered by section 2763 of this title.
1967
Pub. L. 90–137 designated existing provisions as subsec. (a) and added subsec. (b).
1966
Pub. L. 89–583 provided for transfer to and merger with the separate fund account of such amounts of available appropriations (including unliquidated balances of funds heretofore obligated for financing sales and guarantees) as is determined by the President.
1965
Pub. L. 89–171 inserted “receipts received from the disposition of evidences of indebtedness and charges (including fees and premiums) or interest collected” and substituted “have been or are used” for “are used” and “financing sales and guaranties, including the overhead costs thereof” for “furnishing further military assistance on cash or credit terms.”
Statutory Notes and Related Subsidiaries
References to Subchapter II Deemed To Exclude Certain Parts of Subchapter II
References to subchapter II of this chapter are deemed to exclude parts IV (§ 2346 et seq.), VI (§ 2348 et seq.), and VIII (§ 2349aa et seq.) of subchapter II, and references to subchapter I of this chapter are deemed to include such parts. See section 202(b) of Pub. L. 92–226, set out as a note under section 2346 of this title, and sections 2348c and 2349aa–5 of this title.
Effective Date of 1968 Amendment
Amendment by Pub. L. 90–629 effective , see section 41 of Pub. L. 90–629, set out as an Effective Date note under section 2751 of this title.
Savings Provision
Determinations, authorizations, regulations, orders, contracts, agreements, and other actions issued, undertaken, or entered into under authority of any provision of former subsec. (b)(3) of this section as continuing in full force and effect until modified by appropriate authority, see section 46 of Pub. L. 90–629, set out as a note under former section 2341 of this title.
Increases in Military Assistance Programs; Reports to Congress on Presidential Determinations
Pub. L. 91–194, title I, § 100, , 84 Stat. 7, in part, limited increases in the military assistance program for any country to twenty per cent of the amount justified to Congress unless the President determined that such an increase was essential to the national interest of the United States and reported such determination to the Congress within thirty days after each such determination.
Similar provisions were contained in Pub. L. 90–249, title I, § 100, , 81 Stat. 937; Pub. L. 90–581, title I, § 100, , 82 Stat. 1138.
Expenditures by Underdeveloped Countries for Weapons Systems; Presidential Determination; Report to Congress
Pub. L. 91–194, title I, § 119, , 84 Stat. 10, directed the President to withhold economic assistance in an amount equivalent to the amount spent by any underdeveloped country for the purchase of sophisticated weapons systems from any country other than certain enumerated countries, unless the President determined that such a purchase was important to the national security of the United States and reported such determination to Congress within thirty days after each such determination.
Similar provisions were contained in Pub. L. 90–249, title I, § 119, , 81 Stat. 940; Pub. L. 90–581, title I, § 119, , 82 Stat. 1141.
Arms Races and Weapons Systems Restraints; Prohibitions Against Diversion of Resources for Economic and Agricultural Development to Military Purposes
Pub. L. 91–194, title I, § 120, , 84 Stat. 10, as amended by Pub. L. 110–246, title III, § 3001(c), , 122 Stat. 1821, provided that:
“(a) In order to restrain arms races and proliferation of sophisticated weapons, and to ensure that resources intended for economic development are not diverted to military purposes, the President shall take into account before furnishing development loans, Alliance loans, or supporting assistance to any country under this Act [Pub. L. 91–194], and before making sales under the Food for Peace Act, as amended [7 U.S.C. 1691 et seq.]:
“(1) the percentage of the recipient or purchasing country’s budget which is devoted to military purposes,
“(2) the degree to which the recipient or purchasing country is using its foreign exchange resources to acquire military equipment; and
“(3) the amount spent by the recipient or purchasing country for the purchase of sophisticated weapons systems, such as missile systems and jet aircraft for military purposes, from any country.
“(b) The President shall report annually to the Speaker of the House of Representatives and the Committee on Foreign Relations of the Senate his actions in carrying out this provision.”
Executive Documents
Delegation of Functions
For delegation of functions of President under this section, see Ex. Ord. No. 12163, , 44 F.R. 56673, as amended, set out as a note under section 2381 of this title.
Credits
1961–1968 · 5 acts
- 1961Pub. L. 87–195, pt. II, § 524, formerly § 508, , 75 Stat. 437
- 1965Pub. L. 89–171, pt. II, § 201(e), , 79 Stat. 657
- 1966Pub. L. 89–583, pt. II, § 201(c), , 80 Stat. 803
- 1967renumbered § 524 and amended Pub. L. 90–137, pt. II, § 201(h), , 81 Stat. 456
- 1968Pub. L. 90–629, ch. 4, § 45(a), , 82 Stat. 1327.
Show as published
(Pub. L. 87–195, pt. II, § 524, formerly § 508, , 75 Stat. 437; Pub. L. 89–171, pt. II, § 201(e), , 79 Stat. 657; Pub. L. 89–583, pt. II, § 201(c), , 80 Stat. 803; renumbered § 524 and amended Pub. L. 90–137, pt. II, § 201(h), , 81 Stat. 456; Pub. L. 90–629, ch. 4, § 45(a), , 82 Stat. 1327.)