Sec. 507. ### (a) Arrangement Required

325 words·~1 min read·/statute-compilations/comps-17758/sec-507

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## SEC. 507 ###

(a)Arrangement Required Notwithstanding any other provision of law, not later than 60 days after the date of the enactment of this division, the President shall enter into an arrangement with the Government of Ukraine relating to the repayment by Ukraine to the United States of economic assistance provided to Ukraine by the United States to respond to the situation in Ukraine, and for related expenses, that are made available under the headings “Economic Support Fund” and “Assistance for Europe, Eurasia and Central Asia” in title IV of this division. ###

(b)Terms Repayment required by the arrangement required by subsection

(a)shall be at terms to be set by the President. ###

(c)Limitation on Arrangement Terms The arrangement required pursuant to subsection

(a)may not provide for the cancellation of any or all amounts of indebtedness except as provided in subsection (d). ###

(d)Cancellation of Indebtedness ####

(1)The President may not before November 15, 2024 take any action related to the indebtedness of the Government of Ukraine that cancels any indebtedness incurred by Ukraine pursuant to this section. ####

(2)At any time after November 15, 2024, the President may, subject to congressional review provided by section 508, cancel up to 50 percent of the total indebtedness incurred by Ukraine or anticipated to be incurred by Ukraine with respect to economic assistance and related expenses made available under the headings “Economic Support Fund” and “Assistance for Europe, Eurasia and Central Asia” in title IV of this division. Upon completion of the congressional review process set forth in section 508, such cancellation shall be final and irrevocable. ####

(3)The President may, subject to congressional review provided by section 508, cancel any remaining indebtedness to the government of Ukraine under this section at any time after January 1, 2026. Upon completion of the congressional review process set forth in section 508, such cancellation shall be final and irrevocable.