22 U.S.C. § 4416 — Retention of interest
submitted 28 years ago by Pub. L. 105-277 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 75 words · no verdicts yet
This section addresses Retention of interest. It states the definitions, duties, powers, limits, procedures, or other rules set out in the section.
Despite other laws, with the approval of the National Endowment for Democracy, grant funds made available by the National Endowment for Democracy may be deposited in interest-bearing accounts pending disbursement, and any interest which accrues may be retained by the grantee without returning such interest to the Treasury of the United States and interest earned may be obligated and expended for the purposes for which the grant was made without further appropriation.
Notwithstanding any other provision of law, with the approval of the National Endowment for Democracy, grant funds made available by the National Endowment for Democracy may be deposited in interest-bearing accounts pending disbursement, and any interest which accrues may be retained by the grantee without returning such interest to the Treasury of the United States and interest earned may be obligated and expended for the purposes for which the grant was made without further appropriation.
Source credit: (Pub. L. 105–277, div. G, subdiv. B, title XXIV, § 2411, Oct. 21, 1998, 112 Stat. 2681–831.)
- 1998Enacted · Pub. L. 105-277 · 112 Stat. 2681
A history note hasn’t been published yet. The record shows enactment by Pub. L. 105-277 on 1998-10-21.
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