§ 1317. RESTRICTION ON DEBT REDUCTION AUTHORITY.
195 words·~1 min read·
/usc/title-50/section-1317A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Proliferation to State Sponsors of Terrorism .— Subject to the provisions of subsection (c), the debt reduction authority provided by section 1314 may not be exercised unless and until the President certifies to the appropriate congressional committees that the Russian Federation has made material progress in stemming the flow of sensitive goods, technologies, material, and know-how related to the design, development, and production of weapons of mass destruction and the means to deliver them to state sponsors of international terrorism.
Annual Determination .— If, in any annual report to Congress submitted pursuant to [former] section 1321, the President cannot certify that the Russian Federation continues to meet the condition required in subsection (a), then, subject to the provisions of subsection (c), the debt reduction authority provided by section 1314 may not be exercised unless and until such certification is made to the appropriate congressional committees. Presidential Waiver .— The President may waive the requirements of subsection
(a)or
(b)for a fiscal year if the President— determines that application of the subsection for a fiscal year would be counter to the national interest of the United States; and so reports to the appropriate congressional committees.