Sec. 10602. Use of certain foreign currencies
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/bill/113/hr/1793/ih/section-10602A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Except as otherwise provided in this Act or other provisions of law, foreign currencies described in subsection
(b)that are owned by the United States Government are authorized to be appropriated for use in providing assistance under this Act. The foreign currencies that may be used under subsection
(a)are any foreign currencies received as a result of the furnishing of assistance under this Act (or any predecessor Acts authorizing non-military assistance), other than assistance administered through the Department of Defense, that are in excess of— the amounts reserved under authority of section 105(d) of the Mutual Educational and Cultural Exchange Act of 1961 or any other Act relating to educational and cultural exchanges; and the amounts required for payment by the agencies of the United States Government of their obligations outside the United States, as such requirements may be established from time to time by the President. Foreign currencies described in subsection
(b)that are in excess of the amounts described in paragraph
(1)of that subsection may be sold by the Secretary of the Treasury to agencies of the United States Government for payment of their obligations outside the United States. With the concurrence of the relevant inspector general, the use of foreign currencies that accrue or are otherwise available as a result of assistance provided under this Act (including predecessor Acts) that are not owned by the United States Government, shall be the responsibility of the government owning such currencies to audit.