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22 U.S.C. § 6581 — Reorganization of Agency for Inter-

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22 U.S.C. § 6581 — Reorganization of Agency for Inter-

Page 1834 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 6563 as of the day before the effective date of this subchapter with respect to the Overseas Private Investment Corporation. (c) Other activities The authorities and functions transferred to the United States International Development Cooperation Agency or the Director of that Agency by section 6 of Reorganization Plan Numbered 2 of 1979 shall, to the extent such au- thorities and functions have not been repealed, be transferred to those agencies or heads of agencies, as the case may be, in which those au- thorities and functions were vested by statute as of the day before the effective date of such reor- ganization plan. (Pub. L. 105–277, div. G, subdiv. A, title XIV, § 1412, Oct. 21, 1998, 112 Stat. 2681–790.) Editorial Notes REFERENCES IN TEXT Executive Order No. 12163, referred to in subsec. (a), is Ex. Ord. No. 12163, Sept. 29, 1979, 44 F.R. 56673, which is set out as a note under section 2381 of this title. Sec- tion 1–801 of Ex. Ord. No. 12163 was deleted in the gen- eral amendment of Part 1–8 of Ex. Ord. No. 12163 by Ex. Ord. No. 13118, § 8, Mar. 31, 1999, 64 F.R. 16597. For the effective date of this subchapter, referred to in subsecs. (a)(1) and (b), meaning the effective date of title XIV of subdiv. A of div. G of Pub. L. 105–277, see section 1401 of Pub. L. 105–277, set out as a note under section 6561 of this title. Reorganization Plan Numbered 2 of 1979, referred to in subsec. (c), is Reorg. Plan No. 2 of 1979, 44 F.R. 41165, 93 Stat. 1378, effective Oct. 1, 1979, pursuant to Ex. Ord. No. 12163, which was set out as a note under section 2381 of this title, prior to repeal by Pub. L. 105–277, div. G, subdiv. A, title XIV, §§ 1401, 1422(a)(1), Oct. 21, 1998, 112 Stat. 2681–7

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Page 1834 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 6563 as of the day before the effective date of this subchapter with respect to the Overseas Private Investment Corporation. (c) Other activities The authorities and functions transferred to the United States International Development Cooperation Agency or the Director of that Agency by section 6 of Reorganization Plan Numbered 2 of 1979 shall, to the extent such au- thorities and functions have not been repealed, be transferred to those agencies or heads of agencies, as the case may be, in which those au- thorities and functions were vested by statute as of the day before the effective date of such reor- ganization plan. (Pub. L. 105–277, div. G, subdiv. A, title XIV, § 1412, Oct. 21, 1998, 112 Stat. 2681–790.) Editorial Notes REFERENCES IN TEXT Executive Order No. 12163, referred to in subsec. (a), is Ex. Ord. No. 12163, Sept. 29, 1979, 44 F.R. 56673, which is set out as a note under section 2381 of this title. Sec- tion 1–801 of Ex. Ord. No. 12163 was deleted in the gen- eral amendment of Part 1–8 of Ex. Ord. No. 12163 by Ex. Ord. No. 13118, § 8, Mar. 31, 1999, 64 F.R. 16597. For the effective date of this subchapter, referred to in subsecs. (a)(1) and (b), meaning the effective date of title XIV of subdiv. A of div. G of Pub. L. 105–277, see section 1401 of Pub. L. 105–277, set out as a note under section 6561 of this title. Reorganization Plan Numbered 2 of 1979, referred to in subsec. (c), is Reorg. Plan No. 2 of 1979, 44 F.R. 41165, 93 Stat. 1378, effective Oct. 1, 1979, pursuant to Ex. Ord. No. 12163, which was set out as a note under section 2381 of this title, prior to repeal by Pub. L. 105–277, div. G, subdiv. A, title XIV, §§ 1401, 1422(a)(1), Oct. 21, 1998, 112 Stat. 2681–790, 2681–792. Statutory Notes and Related Subsidiaries TRANSFER OF FUNCTIONS For transfer of functions, personnel, assets, and li- abilities of the Overseas Private Investment Corpora- tion to the United States International Development Finance Corporation and treatment of related ref- erences, see sections 9683 and 9686(d) of this title. § 6563. Status of AID (a) In general Unless abolished pursuant to the reorganiza- tion plan submitted under section 6601 of this title, and except as provided in section 6562 of this title, there is within the Executive branch of Government the United States Agency for International Development as an entity de- scribed in section 104 of title 5. (b) Retention of officers Nothing in this section shall require the re- appointment of any officer of the United States serving in the Agency for International Develop- ment of the United States International Devel- opment Cooperation Agency as of the day before the effective date of this subchapter. (Pub. L. 105–277, div. G, subdiv. A, title XIV, § 1413, Oct. 21, 1998, 112 Stat. 2681–791.) Editorial Notes REFERENCES IN TEXT For the effective date of this subchapter, referred to in subsec. (b), meaning the effective date of title XIV of subdiv. A of div. G of Pub. L. 105–277, see section 1401 of Pub. L. 105–277, set out as a note under section 6561 of this title. PART B—MISCELLANEOUS PROVISIONS § 6571. References Except as otherwise provided in this chapter, any reference in any statute, reorganization plan, Executive order, regulation, agreement, determination, or other official document or proceeding to the United States International Development Cooperation Agency (IDCA) or to the Director or any other officer or employee of IDCA— (1) insofar as such reference relates to any function or authority transferred under sec- tion 6562(a) of this title, shall be deemed to refer to the Secretary of State; (2) insofar as such reference relates to any function or authority transferred under sec- tion 6562(b) of this title, shall be deemed to refer to the Administrator of the Agency for International Development; (3) insofar as such reference relates to any function or authority transferred under sec- tion 6562(c) of this title, shall be deemed to refer to the head of the agency to which such function or authority is transferred under such section; and (4) insofar as such reference relates to any function or authority not transferred by this subchapter, shall be deemed to refer to the President or such agency or agencies as may be specified by Executive order. (Pub. L. 105–277, div. G, subdiv. A, title XIV, § 1421, Oct. 21, 1998, 112 Stat. 2681–791.) Editorial Notes REFERENCES IN TEXT This chapter, referred to in text, was in the original ‘‘this subdivision’’, meaning subdiv. A of div. G of Pub. L. 105–277, Oct. 21, 1998, 112 Stat. 2681–765, known as the Foreign Affairs Agencies Consolidation Act of 1998. For complete classification of this subdivision to the Code, see Short Title note set out under section 6501 of this title and Tables. This subchapter, referred to in par. (4), was in the original ‘‘this title’’, meaning title XIV of subdiv. A of div. G of Pub. L. 105–277, Oct. 21, 1998, 112 Stat. 2681–790. For complete classification of title XIV to the Code, see Tables. SUBCHAPTER V—AGENCY FOR INTERNATIONAL DEVELOPMENT PART A—REORGANIZATION AND TRANSFER OF FUNCTIONS § 6581. Reorganization of Agency for Inter- national Development (a) In general The Agency for International Development shall be reorganized in accordance with this chapter and the reorganization plan transmitted pursuant to section 6601 of this title. (b) Functions to be transferred The reorganization of the Agency for Inter- national Development shall provide, at a min- imum, for the transfer to and consolidation with Page 1835 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 6593 the Department of State of the following func- tions of AID: (1) The Press office. (2) Certain administrative functions. (Pub. L. 105–277, div. G, subdiv. A, title XV, § 1511, Oct. 21, 1998, 112 Stat. 2681–793.) Editorial Notes REFERENCES IN TEXT This chapter, referred to in subsec. (a), was in the original ‘‘this subdivision’’, meaning subdiv. A of div. G of Pub. L. 105–277, Oct. 21, 1998, 112 Stat. 2681–765, known as the Foreign Affairs Agencies Consolidation Act of 1998. For complete classification of this subdivision to the Code, see Short Title note set out under section 6501 of this title and Tables. Statutory Notes and Related Subsidiaries EFFECTIVE DATE Pub. L. 105–277, div. G, subdiv. A, title XV, § 1501, Oct. 21, 1998, 112 Stat. 2681–793, provided that: ‘‘This title [enacting this subchapter], and the amendments made by this title, shall take effect on the earlier of— ‘‘(1) April 1, 1999; or ‘‘(2) the date of reorganization [Apr. 1, 1999] of the Agency for International Development pursuant to the reorganization plan described in section 1601 [22 U.S.C. 6601].’’ PART B—AUTHORITIES OF SECRETARY OF STATE § 6591. ‘‘United States assistance’’ defined In this part, the term ‘‘United States assist- ance’’ means development and other economic assistance, including assistance made available under the following provisions of law: (1) Chapter 1 of part I of the Foreign Assist- ance Act of 1961 [22 U.S.C. 2151 et seq.] (relat- ing to development assistance). (2) Chapter 4 of part II of the Foreign Assist- ance Act of 1961 [22 U.S.C. 2346 et seq.] (relat- ing to the economic support fund). (3) Chapter 10 of part I of the Foreign Assist- ance Act of 1961 [22 U.S.C. 2293 et seq.] (relat- ing to the Development Fund for Africa). (4) Chapter 11 of part I of the Foreign Assist- ance Act of 1961 [22 U.S.C. 2295 et seq.] (relat- ing to assistance for the independent states of the former Soviet Union). (5) The Support for East European Democ- racy Act (22 U.S.C. 5401 et seq.). (Pub. L. 105–277, div. G, subdiv. A, title XV, § 1521, Oct. 21, 1998, 112 Stat. 2681–794.) Editorial Notes REFERENCES IN TEXT The Foreign Assistance Act of 1961, referred to in pars. (1) to (4), is Pub. L. 87–195, Sept. 4, 1961, 75 Stat. 424. Chapters 1, 10, and 11 of part I of the Act are classi- fied generally to parts I (§ 2151 et seq.), X (§ 2293 et seq.), and XI (§ 2295 et seq.), respectively, of subchapter I of chapter 32 of this title. Chapter 4 of part II of the Act is classified generally to part IV (§ 2346 et seq.) of sub- chapter II of chapter 32 of this title. For provisions deeming references to part I of subchapter I to include a reference to section 2293 of this title, see section 2293(d)(1) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 2151 of this title and Tables. The Support for East European Democracy Act, re- ferred to in par. (5), probably means the Support for East European Democracy (SEED) Act of 1989, Pub. L. 101–179, Nov. 28, 1989, 103 Stat. 1298, which is classified principally to chapter 63 (§ 5401 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 5401 of this title and Tables. § 6592. Administrator of AID reporting to Sec- retary of State The Administrator of the Agency for Inter- national Development, appointed pursuant to section 2384(a) of this title, shall report to and be under the direct authority and foreign policy guidance of the Secretary of State. (Pub. L. 105–277, div. G, subdiv. A, title XV, § 1522, Oct. 21, 1998, 112 Stat. 2681–794.) § 6593. Assistance programs coordination and oversight (a) Authority of Secretary of State (1) In general Under the direction of the President, the Secretary of State shall coordinate all United States assistance in accordance with this sec- tion, except as provided in paragraphs (2) and (3). (2) Export promotion activities Coordination of activities relating to pro- motion of exports of United States goods and services shall continue to be primarily the re- sponsibility of the Secretary of Commerce. (3) International economic activities Coordination of activities relating to United States participation in international financial institutions and relating to organization of multilateral efforts aimed at currency sta- bilization, currency convertibility, debt reduc- tion, and comprehensive economic reform pro- grams shall continue to be primarily the re- sponsibility of the Secretary of the Treasury. (4) Authorities and powers of the Secretary of State The powers and authorities of the Secretary provided in this part are in addition to the powers and authorities provided to the Sec- retary under any other Act, including section 101(b) and section 622(c) of the Foreign Assist- ance Act of 1961 (22 U.S.C. 2151(b), 2382(c)). (b) Coordination activities Coordination activities of the Secretary of State under subsection (a) shall include— (1) approving an overall assistance and eco- nomic cooperation strategy; (2) ensuring program and policy coordina- tion among agencies of the United States Gov- ernment in carrying out the policies set forth in the Foreign Assistance Act of 1961 [22 U.S.C. 2151 et seq.], the Arms Export Control Act [22 U.S.C. 2751 et seq.], and other relevant assist- ance Acts; (3) pursuing coordination with other coun- tries and international organizations; and (4) resolving policy, program, and funding disputes among United States Government agencies. (c) Statutory construction Nothing in this section may be construed to lessen the accountability of any Federal agency

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Federal law — U.S. Code and appendices · legal_authorities

22 U.S.C. § 2151 — Congressional findings and declaration of policy

(a) United States development cooperation policy

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22 U.S.C. § 2151 — Congressional findings and declaration of

Page 532 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 2151 Sec. 2394a. Extortion and illegal payments to offi- cials of foreign countries receiving international security assistance. 2394b. HELP Commission. 2394c. Information on covered United States foreign assistance programs. 2395. General authorities. 2395a. International agreements concerning debt relief; transmittal to congres- sional committees. 2396. Availability of funds. 2396a. Property Management Fund. 2396b. USAID Buying Power Maintenance Ac- count. 2397. Administrative expenses. 2398. Assistance to countries pursuant to other statutes. 2399 to 2399a. Repealed or Transferred. 2399b. False claims and ineligible commodities. 2399c. Coordination of policies and programs. 2399d. Shipping differential. PART III—MISCELLANEOUS PROVISIONS 2401. Effective date; identification of pro- grams. 2402. Saving provisions. 2403. Definitions. 2404. Unexpended balances. 2405. Separability. 2406. Development programs for dependable fuel supplies. 2407. Special authorization for use of foreign currencies. 2408. Repealed. 2409. Use of United States Armed Forces. 2410, 2410a. Repealed. 2411. Limitation upon exercise of special au- thorities. 2412. Limitation on foreign assistance appro- priations. 2413. Changes in allocation of foreign assist- ance. 2414. Presidential findings and determina- tions. 2414a. Annual report to Congress on voting practices at United Nations. 2415. Annual military assistance report. 2416. Annual foreign military training report. 2417 to 2419. Repealed. 2420. Police training prohibition. 2421. Trade and Development Agency. 2421a. Capital projects office within Agency for International Development. 2421b. Capital projects for

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Federal law — U.S. Code and appendices · legal_authorities

22 U.S.C. § 2293 — Long-term development assistance for sub-Saharan Africa

**(a) Findings** The Congress finds that— (1) drought and famine have caused countless deaths and untold suffering among the people of sub-Saharan Africa; (2) drought and famine in combination with other factors such as desertification, government neglect of the agricultural sector, and inappropriate economic policies have severely affected long-term development in sub-Saharan Africa; and (3) the most cost-effective and efficient way of overcoming Africa’s vulnerability to drought and famine is to address Africa’s long-term development needs through a process that builds upon the needs and capabilities of the African people, promotes sustained and equitable economic growth, preserves the environment, and protects the rights of the individual. **(b) Authority to furnish assistance** The President is authorized to furnish project and program assistance, on such terms and conditions as he may determine in accordance with the policies contained in this section, for long-term development in sub-Saharan Africa. **(c) Purpose of assistance** (1) **Purpose** — The purpose of assistance under this section shall be to help the poor majority of men and women in sub-Saharan Africa to participate in a process of long-term development through economic growth that is equitable, participatory, environmentally sustainable, and self-reliant. (2) **Use of assistance to encourage private sector development** — Assistance under this section should, in a manner consistent with paragraph (1), be used to promote sustained economic growth, encourage private sector development, promote individual initiatives, and help to reduce the role of central governments in areas more appropriate for the private sector. **(d) Application of development assistance general authorities and policies** E

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Federal law — U.S. Code and appendices · legal_authorities

22 U.S.C. § 2293 — Long-term development assistance for

Page 754 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 2293 1 So in original. Probably should be ‘‘has’’. Section 2292q, Pub. L. 87–195, pt. I, § 495K, as added Pub. L. 99–8, § 2, Apr. 2, 1985, 99 Stat. 21, authorized Afri- can famine assistance. PART X—DEVELOPMENT FUND FOR AFRICA Editorial Notes PRIOR PROVISIONS A prior part X, consisting of sections 2293 and 2294, re- lated to assistance to Portugal and Portuguese colonies in Africa gaining independence, prior to repeal by Pub. L. 99–83, title XII, § 1211(a)(4), Aug. 8, 1985, 99 Stat. 279. § 2293. Long-term development assistance for sub-Saharan Africa (a) Findings The Congress finds that— (1) drought and famine have caused count- less deaths and untold suffering among the people of sub-Saharan Africa; (2) drought and famine in combination with other factors such as desertification, govern- ment neglect of the agricultural sector, and inappropriate economic policies have severely affected long-term development in sub-Saha- ran Africa; and (3) the most cost-effective and efficient way of overcoming Africa’s vulnerability to drought and famine is to address Africa’s long- term development needs through a process that builds upon the needs and capabilities of the African people, promotes sustained and eq- uitable economic growth, preserves the envi- ronment, and protects the rights of the indi- vidual. (b) Authority to furnish assistance The President is authorized to furnish project and program assistance, on such terms and con- ditions as he may determine in accordance with the policies contained in this section, for long- term development in sub-Saharan Africa. (c) Purpose of assistance (1) Purpose The purpose of assistance under this section shall be to help the poor majority of men and

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Federal law — U.S. Code and appendices · legal_authorities

22 U.S.C. § 2295 — Assistance for the independent states

The President is authorized to provide assistance to the independent states of the former Soviet Union under this part for the following activities: (1) **Urgent humanitarian needs** — Meeting urgent humanitarian needs (including those arising from the health effects of exposure to radiation in the Chernobyl region), in particular— (A) meeting needs for medicine, medical supplies and equipment, and food, including the nutritional needs of infants such as processed baby food; and (B) continuing efforts to rebuild from the earthquake in Armenia. (2) **Democracy and rule of law** — Establishing a democratic and free society by fostering— (A) political, social, and economic pluralism; (B) respect for internationally recognized human rights and the rule of law; (C) the development of institutions of democratic governance, including electoral and legislative processes; (D) the institution and improvement of public administration at the national, intergovernmental, regional, and local level; (E) development and support of grass-roots and nongovernmental organizations promoting democracy, the rule of law, transparency, and accountability in the political process, including grants in small amounts to such organizations; (F) international exchanges and other forms of public diplomacy to promote greater understanding on how democracy, the public policy process, market institutions, and an independent judiciary function in Western societies; (G) political parties and coalitions committed to promoting democracy, human rights, and economic reforms; (H) support for civic organizations committed to promoting human rights; (I) the development of effective control by elected civilian officials over, and the development of a nonpolitical officer corps in

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Federal law — U.S. Code and appendices · legal_authorities

22 U.S.C. § 2295 — Assistance for the independent states

Page 763 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 2295 PART XI—SUPPORT FOR ECONOMIC AND DEMO- CRATIC DEVELOPMENT OF THE INDEPENDENT STATES OF THE FORMER SOVIET UNION § 2295. Assistance for the independent states The President is authorized to provide assist- ance to the independent states of the former So- viet Union under this part for the following ac- tivities: (1) Urgent humanitarian needs Meeting urgent humanitarian needs (includ- ing those arising from the health effects of ex- posure to radiation in the Chernobyl region), in particular— (A) meeting needs for medicine, medical supplies and equipment, and food, including the nutritional needs of infants such as proc- essed baby food; and (B) continuing efforts to rebuild from the earthquake in Armenia. (2) Democracy and rule of law Establishing a democratic and free society by fostering— (A) political, social, and economic plu- ralism; (B) respect for internationally recognized human rights and the rule of law; (C) the development of institutions of democratic governance, including electoral and legislative processes; (D) the institution and improvement of public administration at the national, inter- governmental, regional, and local level; (E) development and support of grass-roots and nongovernmental organizations pro- moting democracy, the rule of law, trans- parency, and accountability in the political process, including grants in small amounts to such organizations; (F) international exchanges and other forms of public diplomacy to promote great- er understanding on how democracy, the public policy process, market institutions, and an independent judiciary function in Western societies; (G) political parties and coalitions com- mitted to promoting democracy, human rights, an

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Federal law — U.S. Code and appendices · legal_authorities

22 U.S.C. § 2346 — Authority

**(a) Policy requirements for assistance** The Congress recognizes that, under special economic, political, or security conditions, the national interests of the United States may require economic support for countries or in amounts which could not be justified solely under part I of subchapter I of this chapter or, in the case of countries in sub-Saharan Africa, part X of subchapter I of this chapter. In such cases, the President is authorized to furnish assistance to countries and organizations, on such terms and conditions as he may determine, in order to promote economic or political stability. To the maximum extent feasible, the President shall provide assistance under this part consistent with the policy directions, purposes, and programs of subchapter I of this chapter. **(b) Responsibility for policy decisions and justifications** The Secretary of State shall be responsible for policy decisions and justifications for economic support programs under this part, including determinations of whether there will be an economic support program for a country and the amount of the program for each country. The Secretary shall exercise this responsibility in cooperation with the Administrator of the agency primarily responsible for administering subchapter I of this chapter. **(c) Detailed justification for uses and purposes of funds** As part of the annual presentation materials for foreign assistance submitted to the Congress, the agency primarily responsible for administering subchapter II of this chapter shall provide a detailed justification for the uses and the purposes of the funds provided under this part. Such material shall include, but not be limited to, information concerning the amounts and kinds of cash grant transfers, the amounts and kinds of budgetary an

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Federal law — U.S. Code and appendices · legal_authorities

22 U.S.C. § 2346 — Authority

Page 804 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 2345 Executive Documents DELEGATION OF FUNCTIONS For delegation of functions of President under this section, see Ex. Ord. No. 12163, Sept. 29, 1979, 44 F.R. 56673, as amended, set out as a note under section 2381 of this title. § 2345. Repealed. Pub. L. 90–629, ch. 4, § 45(a), Oct. 22, 1968, 82 Stat. 1327 Section, Pub. L. 87–195, pt. II, § 525, formerly §§ 503(e), 509(b), as added Pub. L. 88–633, pt. II, § 201(a), (d), Oct. 7, 1964, 78 Stat. 1011; amended Pub. L. 89–171, pt. II, § 201(f), Sept. 6, 1965, 79 Stat. 657; renumbered § 525 and amended Pub. L. 90–137, pt. II, § 201(b)(3), (i)(2), Nov. 14, 1967, 81 Stat. 455, 457, provided for guaranties until June 30, 1968. See section 2764 of this title. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF REPEAL Repeal 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. SAVINGS PROVISION Determinations, authorizations, regulations, orders, contracts, agreements, and other actions issued under- taken, or entered into under authority of any provision of former section 2345 of this title as continuing in full force and effect until modified by appropriate author- ity, see section 46 of Pub. L. 90–629, set out as a note under former section 2341 of this title. PART IV—ECONOMIC SUPPORT FUND § 2346. Authority (a) Policy requirements for assistance The Congress recognizes that, under special economic, political, or security conditions, the national interests of the United States may re- quire economic support for countries or in amounts which could not be justified solely under part I of subchapter I of this chapter or, in the case of countries in sub-Saharan Africa,

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Federal law — U.S. Code and appendices · legal_authorities

22 U.S.C. § 5401 — Relation of provisions of this chapter to certain provisions of appropriations acts

Any provision of the annual Foreign Operations, Export Financing, and Related Programs Appropriations Act that provides that assistance for Poland or Hungary under that Act may be provided “notwithstanding any other provision of law” shall not supersede any otherwise applicable provision of this chapter. This section shall not, however, be construed to apply with respect to section 599C(b) of the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1990 (or a corresponding provision of a subsequent such appropriations Act.

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22 U.S.C. § 5401 — Support for East European Democracy

Page 1651 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 5401 (d) Construction of section Nothing in this section may be construed as prior approval of any legislation which may be necessary to implement any recommendations resulting from discussions under this section. (Pub. L. 100–418, title III, § 3603, Aug. 23, 1988, 102 Stat. 1387.) Executive Documents DELEGATION OF FUNCTIONS Functions of President under this section delegated to Secretary of the Treasury by section 1 of Ex. Ord. No. 12781, Nov. 20, 1991, 56 F.R. 59203, set out as a note under section 301 of Title 3, The President. § 5354. Banks loan loss reserves The Federal Reserve Board shall submit to the Committee on Banking, Housing, and Urban Af- fairs of the Senate and the Committee on Bank- ing, Finance and Urban Affairs of the House of Representatives a report on the issues raised by including loan loss reserves as part of banks’ primary capital for regulatory purposes by March 31, 1989. Such report shall include a re- view of the treatment of loan loss reserves and the composition of primary capital of banks in other major industrialized countries, and shall include an analysis as to whether loan loss re- serves should continue to be counted as primary capital for regulatory purposes. (Pub. L. 100–418, title III, § 3604, Aug. 23, 1988, 102 Stat. 1388.) Statutory Notes and Related Subsidiaries CHANGE OF NAME Committee on Banking, Finance and Urban Affairs of House of Representatives treated as referring to Com- mittee on Banking and Financial Services of House of Representatives by section 1(a) of Pub. L. 104–14, set out as a note preceding section 21 of Title 2, The Con- gress. Committee on Banking and Financial Services of House of Representatives abolished and replaced by C

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