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15 U.S.C. § 1531Buying Power Maintenance accounts for International Trade Administration, Export Administration, and United States Travel and Tourism Administration

submitted 39 years ago by Pub. L. 100-202 to r/title-15-COMMERCE-AND-TRADE · 286 words · no verdicts yet

in plain englishAI-generated · not legal advice

The Secretary may create Commerce buying-power accounts to offset overseas currency, wage, and price changes, must move excess amounts into them, may transfer needed amounts out, and must merge transferred funds for the same purposes and periods.

To keep Commerce overseas programs at their appropriated yearly levels, the Secretary may establish Buying Power Maintenance accounts for the International Trade Administration, Export Administration, and United States Travel and Tourism Administration. Congress may appropriate whatever amounts are needed to offset harmful foreign-currency changes and unbudgeted overseas wage or price changes. To remove substantial gains above approved overseas-operation levels, the Secretary must transfer to an account amounts made excessive by those changes, including related unobligated balances. To offset harmful changes, the Secretary may transfer from an account amounts needed to maintain an appropriation account’s approved overseas-operation level. Funds transferred between an account and another account are merged with the receiving account and available for its same purpose and period. Any legal or appropriation limit on Commerce amounts available for obligation or spending is treated as adjusted as needed to offset the net effect of those changes and maintain approved levels.
the actual law source: uscode.house.gov ↗public domain

In order to maintain overseas program activity for the Department of Commerce provided for each fiscal year at the appropriated program levels, the Secretary may establish Buying Power Maintenance accounts for the International Trade Administration, the Export Administration, and the United States Travel and Tourism Administration. There are authorized to be appropriated for such accounts such sums as may be necessary to offset adverse fluctuations in foreign currency exchange rates, or unbudgeted overseas wage and price changes. To eliminate substantial gains to the approved levels of overseas operations, the Secretary shall transfer to a Buying Power Maintenance account such amounts determined to be excessive to the needs of the approved level of overseas operations because of fluctuations in foreign currency exchange rates or changes in unbudgeted overseas wages and prices, including unobligated balances associated with the overseas program. To offset adverse fluctuations in foreign currency exchange rates or unbudgeted overseas wage and price changes, the Secretary may transfer from a Buying Power Maintenance account such amounts determined to be necessary to maintain the approved level of overseas operations under an appropriation account. Funds transferred by the Secretary to or from a Buying Power Maintenance account to another account shall be merged with and be available for the same purpose, and for the same time period, as the funds in the account into which transferred. Any restriction contained in an appropriation Act or other provision of law limiting the amounts available for the Department of Commerce that may be obligated or expended shall be deemed to be adjusted to the extent necessary to offset the net effect of fluctuations in foreign currency exchange rates or unbudgeted overseas wage and price changes in order to maintain approved levels.

Source credit: (Pub. L. 100–202, § 101(a) [title I, § 108], Dec. 22, 1987, 101 Stat. 1329, 1329–7.)

history & why it existsrecord from the source credit
  • 1987Enacted · Pub. L. 100-202 · 101 Stat. 1329, 1329

A history note hasn’t been published yet. The record shows enactment by Pub. L. 100-202 on 1987-12-22.

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