22 U.S.C. § 285y — Additional contribution to special funds; authorization of appropriations

submitted 43 years ago by Pub. L. 89-369 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 90 words · no verdicts yet

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This law lets the U.S. Governor contribute $520 million to the Bank's Asian Development Fund. The contribution only happens once Congress appropriates the money. Congress authorizes that same $520 million for the Secretary of the Treasury to pay.

(a) The United States Governor of the Asian Development Bank may contribute $520,000,000, on behalf of the United States, to the Asian Development Fund. This Fund is a special fund run by the Bank. This commitment only becomes real once Congress appropriates the necessary money — it isn't automatic. (b) To pay for this contribution, Congress authorizes $520,000,000 to be appropriated, with no fiscal-year deadline attached. The Secretary of the Treasury is the one who makes the payment.

the actual law source: uscode.house.gov ↗public domain

(a)

(1)

The United States Governor of the Bank is authorized to contribute on behalf of the United States $520,000,000 to the Asian Development Fund, a special fund of the Bank.

(2)

Any commitment to make the contribution authorized in paragraph (1) shall be made subject to obtaining the necessary appropriations.

(b)

In order to pay for the United States contribution to the Asian Development Fund provided for in this section, there are authorized to be appropriated, without fiscal year limitation, $520,000,000 for payment by the Secretary of the Treasury.

Source credit: (Pub. L. 89–369, § 28, as added Pub. L. 98–181, title I [title X, § 1002], Nov. 30, 1983, 97 Stat. 1286.)

history & why it existsrecord from the source credit

1983Enacted · Pub. L. 89-369 · 97 Stat. 1286

A history note hasn’t been published yet. The record shows enactment by Pub. L. 89-369 on 1983-11-30.

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