22 U.S.C. § 290j — Establishment of the Fund

Page 264 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 290i–10 pension. The Commission shall include in its an- nual reports to Congress such information as it shall deem advisable with regard to the oper- ations and effect of this section and in connec- tion therewith shall include any views sub- mitted for such purpose by any association of dealers registered with the Commission. (Pub. L. 97–35, title XIII, § 1341, Aug. 13, 1981, 95 Stat. 743.) Editorial Notes REFERENCES IN TEXT The agreement, referred to in subsec. (a), is the agreement establishing the African Development Bank. See section 290i of this title. Executive Documents DELEGATION OF FUNCTIONS Functions of President under subsec. (b) delegated to Secretary of the Treasury, see Ex. Ord. No. 12403, Feb. 8, 1983, 48 F.R. 6087. § 290i–10. Authorization of United States sub- scription to stock; authorization of appro- priations (a) The United States Governor of the Bank is authorized to agree to subscribe on behalf of the United States to fifty-nine thousand, six hun- dred and thirty-two shares of the capital stock of the Bank, except that the subscription shall be effective only to such extent or in such amounts as are provided in advance in appro- priations Acts. (b) In order to pay for the United States sub- scription authorized in subsection (a), there are authorized to be appropriated, without fiscal year limitation, $719,370,633, for payment by the Secretary of the Treasury. (Pub. L. 97–35, title XIII, § 1343, as added Pub. L. 100–202, § 101(e) [title I], Dec. 22, 1987, 101 Stat. 1329–131, 1329–134.) Editorial Notes CODIFICATION Section 1343 of Pub. L. 97–35 is based on section 301 of title III of H.R. 3750, One Hundredth Congress, as intro- duced Dec. 11, 1987, and enacted into law by Pub. L. 100–202. Statutory Notes and Related Subsidiaries FIFTH GENERAL CAPITAL INCREASE Pub. L. 106–113, div. B, § 1000(a)(2) [title V, § 594], Nov. 29, 1999, 113 Stat. 1535, 1501A–122, provided in part that the Secretary of the Treasury may effect the United States participation in the fifth general capital in- crease of the African Development Bank, and author- ized $40,847,011 to be appropriated without fiscal year limitation for payment by the Secretary for paid-in capital of the Bank and $639,932,485 to be appropriated without fiscal year limitation for payment by the Sec- retary for callable capital of the Bank. § 290i–11. Sixth capital increase (a) Subscription authorized (1) The United States Governor of the Bank may subscribe on behalf of the United States to 289,391 additional shares of the capital stock of the Bank. (2) Any subscription by the United States to the capital stock of the Bank shall be effective only to such extent and in such amounts as are provided in advance in appropriations Acts. (b) Limitations on authorization of appropria- tions (1) In order to pay for the increase in the United States subscription to the Bank under subsection (a), there are authorized to be appro- priated, without fiscal year limitation, $4,322,228,221 for payment by the Secretary of the Treasury. (2) Of the amount authorized to be appro- priated under paragraph (1)— (A) $259,341,759 shall be for paid in shares of the Bank; and (B) $4,062,886,462 shall be for callable shares of the Bank. (Pub. L. 97–35, title XIII, § 1344, as added Pub. L. 112–74, div. I, title VII, § 7081(d), Dec. 23, 2011, 125 Stat. 1260.) § 290i–12. Seventh capital increase (a) Subscription authorized (1) In general The United States Governor of the Bank may subscribe on behalf of the United States to 532,023 additional shares of the capital stock of the Bank. (2) Limitation Any subscription by the United States to the capital stock of the Bank shall be effective only to such extent and in such amounts as are provided in advance in appropriations Acts. (b) Authorization of appropriations (1) In general In order to pay for the increase in the United States subscription to the Bank under sub- section (a), there are authorized to be appro- priated, without fiscal year limitation, $7,286,587,008 for payment by the Secretary of the Treasury. (2) Share types Of the amount authorized to be appropriated under paragraph (1)— (A) $437,190,016 shall be for paid in shares of the Bank; and (B) $6,849,396,992 shall be for callable shares of the Bank. (Pub. L. 97–35, title XIII, § 1345, as added Pub. L. 116–136, div. B, title XI, § 21012(b)(3), Mar. 27, 2020, 134 Stat. 594.) SUBCHAPTER XXV—UNITED STATES-INDIA FUND FOR CULTURAL, EDUCATIONAL, AND SCIENTIFIC COOPERATION § 290j. Establishment of the Fund (a) Agreement with Government of India; pro- gram purposes The President is authorized to enter into an agreement with the Government of India for the establishment of a fund (hereafter in this sub- chapter referred to as the ‘‘Fund’’) which would provide grants and other assistance for cultural, Page 265 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 290k educational, and scientific programs of mutual interest. Such programs may include exchanges of persons, exchanges of information, and other programs of study, research, and scholarly co- operation. The agreement may also provide for the establishment of an endowment, a founda- tion, or other means to carry out the purposes of the agreement. (b) United States representatives The United States representatives on any board or other entity created in accordance with the agreement to administer the Fund shall be designated by the President predominately from among representatives of United States Govern- ment agencies, including those administering programs which may be supported in whole or in part by the Fund. (c) Funding of programs United States Government agencies carrying out programs of the types specified in sub- section (a) may receive amounts directly from the Fund for use in carrying out those programs. (Pub. L. 98–164, title IX, § 902, Nov. 22, 1983, 97 Stat. 1051.) Statutory Notes and Related Subsidiaries SHORT TITLE Pub. L. 98–164, title IX, § 901, Nov. 22, 1983, 97 Stat. 1051, provided that: ‘‘This title [enacting this sub- chapter] may be cited as the ‘United States-India Fund for Cultural, Educational, and Scientific Cooperation Act’.’’ Executive Documents EX. ORD. NO. 12517. DELEGATION CONCERNING UNITED STATES-INDIA FUND FOR CULTURAL, EDUCATIONAL, AND SCIENTIFIC COOPERATION Ex. Ord. No. 12517, May 29, 1985, 50 F.R. 23105, pro- vided: By the authority vested in me as President by the Constitution and statutes of the United States of America, including section 301 of Title 3 of the United States Code, and in order to delegate certain functions concerning the United States-India Fund for Cultural, Educational, and Scientific Cooperation to the Sec- retary of State, it is hereby ordered as follows: SECTION 1. All functions vested in the President by the United States-India Fund for Cultural, Edu- cational, and Scientific Cooperation Act (Title IX of Public Law 98–164, 97 Stat. 1051; ‘‘the Act’’) [22 U.S.C. 290j et seq.] are delegated to the Secretary of State. SEC. 2. India rupees provided to the President for pur- poses of Title IX of the Act and under Title III of the Departments of Commerce, Justice, and State, the Ju- diciary, and Related Agencies Appropriation Act, 1985 (Public Law 98–411, 98 Stat. 1545) are allocated to the Secretary of the Treasury for investment to generate earnings for purposes of Title IX of the Act. RONALD REAGAN. § 290j–1. Use of United States owned rupees to capitalize the Fund (a) Subject to applicable requirements con- cerning reimbursement to the Treasury for United States owned foreign currencies, the President may make available to the Fund, for use in carrying out the agreement authorized by section 290j of this title, up to the equivalent of $200,000,000 in foreign currencies owned by the United States in India or owed to the United States by the Government of India. Such use may include investment in order to generate in- terest which would be retained in the Fund and used to support programs pursuant to that agreement. (b) In accordance with the agreement nego- tiated pursuant to section 290j(a) of this title, sums made available for investment for the United States-India Fund for Cultural, Edu- cational, and Scientific Cooperation under the Departments of Commerce, Justice, and State, and the Judiciary and Related Agencies Appro- priation Act, 1985, and any earnings on such sums shall be available for the purposes of sec- tion 290j(a) of this title. (Pub. L. 98–164, title IX, § 903, Nov. 22, 1983, 97 Stat. 1051; Pub. L. 99–93, title VIII, § 808, Aug. 16, 1985, 99 Stat. 452; Pub. L. 100–204, title III, § 305, Dec. 22, 1987, 101 Stat. 1379.) Editorial Notes REFERENCES IN TEXT The Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriation Act, 1985, referred to in subsec. (b), is Pub. L. 98–411, Aug. 30, 1984, 98 Stat. 1545. For provisions relating to contribu- tion to the United States-India Fund for Cultural, Edu- cational, and Scientific Cooperation, see 98 Stat. 1567. AMENDMENTS 1987—Subsec. (b). Pub. L. 100–204 amended subsec. (b) generally. Prior to amendment, subsec. (b) read as fol- lows: ‘‘Pending completion of the negotiation of an agreement with the Government of India, the annual earnings generated by the moneys appropriated by the Departments of Commerce, Justice, and State, the Ju- diciary, and Related Agencies Appropriation Act, 1985, may be used for the purposes set out in section 290j(a) of this title.’’ 1985—Pub. L. 99–93 designated existing provisions as subsec. (a) and added subsec. (b). SUBCHAPTER XXVI—MULTILATERAL INVESTMENT GUARANTEE AGENCY § 290k. Acceptance of membership The President is hereby authorized to accept membership for the United States in the Multi- lateral Investment Guarantee Agency (herein- after in this subchapter referred to as the ‘‘Agency’’) provided for by the Convention Es- tablishing the Multilateral Investment Guar- antee Agency (hereinafter in this subchapter re- ferred to as the ‘‘Convention’’) deposited in the archives of the International Bank for Recon- struction and Development (hereinafter in this subchapter referred to as the ‘‘Bank’’). (Pub. L. 100–202, § 101(e) [title I], Dec. 22, 1987, 101 Stat. 1329–131, 1329–134.) Editorial Notes CODIFICATION Section is based on section 403 of title IV of H.R. 3750, One Hundredth Congress, as introduced Dec. 11, 1987, and enacted into law by Pub. L. 100–202. Section 402 of title IV of H.R. 3750, as introduced Dec. 11, 1987, and as enacted into law by section 101(e) [title I] of Pub. L. 100–202, provided that: ‘‘This title [enact- ing this subchapter] shall be codified as subchapter XXVI of chapter 7 of title 22 of the United States Code.’’