7 U.S.C. § 1738g — Enterprise for the Americas environmental funds
submitted 72 years ago by Pub. L. 101-624 to r/title-7-AGRICULTURE · 94 words · no verdicts yet
Each eligible country with an environmental framework agreement must establish an Environmental Fund to receive local-currency interest payments. Fund deposits must be invested until used, and investment returns may remain in the Fund.
(a) Establishment.—Under an agreement under section 1738f, an eligible country must establish an Environmental Fund to receive local-currency payments under section 1738f(b)(1).
(b) Investment.—Money deposited in the Fund must be invested until disbursed. Despite other law, investment returns may remain in the Fund without being deposited into the Commodity Credit Corporation account and without another congressional appropriation.
An eligible country shall, under the terms of an environmental framework agreement entered into under section 1738f of this title, establish an Environmental Fund to receive payments in local currency pursuant to section 1738f(b)(1) of this title.
Amounts deposited into an Environmental Fund shall be invested until disbursed. Notwithstanding any other provision of law, any return on such investment may be retained by the Environmental Fund and need not be deposited to the account of the Commodity Credit Corporation and may be retained without further appropriation by Congress.
Source credit: (July 10, 1954, ch. 469, title VI, § 608, as added Pub. L. 101–624, title XV, § 1512, Nov. 28, 1990, 104 Stat. 3660.)
- 1954Enacted · Pub. L. 101-624 · 104 Stat. 3660
A history note hasn’t been published yet. The record shows enactment by Pub. L. 101-624 on 1954-07-10.
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