31 U.S.C. § 1306 — Use of foreign credits
submitted 44 years ago by Pub. L. 97-258 to r/title-31-MONEY-AND-FINANCE · 124 words · no verdicts yet
An agency may use foreign credits owed to or owned by the United States for purposes covered by its current-year appropriations, but generally must reimburse the Treasury. Credits from exchanged allowances or personal-property sales may instead be used to acquire similar items without reimbursement.
(a) In general. An agency may use foreign credits, including currencies, owed to or owned by the United States for any purpose covered by the agency’s current-year appropriations, including purposes required or authorized by law to use those credits. The agency may do so only if it reimburses the Treasury from the agency’s applicable appropriations. (b) Exception. Credits received as exchanged allowances or as proceeds from selling personal property may be used for all or part of the cost of acquiring similar items, to the extent and in the way the law authorizes, without reimbursing the Treasury.
Foreign credits (including currencies) owed to or owned by the United States may be used by any agency for any purpose for which appropriations are made for the agency for the current fiscal year (including the carrying out of Acts requiring or authorizing the use of such credits), but only when reimbursement therefor is made to the Treasury from applicable appropriations of the agency.
Credits described in subsection (a) that are received as exchanged allowances, or as the proceeds of the sale of personal property, may be used in whole or partial payment for the acquisition of similar items, to the extent and in the manner authorized by law, without reimbursement to the Treasury.
Source credit: (Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 918; Pub. L. 104–208, div. A, title I, § 101(f) [title VI, § 612(a)], Sept. 30, 1996, 110 Stat. 3009–314, 3009–355.)
- 1982Enacted · Pub. L. 97-258 · 96 Stat. 918
- 1996Amended · Pub. L. 104-208 · 110 Stat. 3009
A history note hasn’t been published yet. The record shows enactment by Pub. L. 97-258 on 1982-09-13.
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