Enterprise for the Americas Funds

22 U.S.C. § 2430f

• Title: 22 — Foreign Relations and Intercourse
• Chapter: SUBCHAPTER III–A—ENTERPRISE FOR THE AMERICAS INITIATIVE

Text

(a) Establishment
Each beneficiary country that enters into an Americas Framework Agreement shall be required to establish an Enterprise for the Americas Fund to receive payments in local currency pursuant to section 2430e(b)(1) of this title.
(b) Deposits
Local currencies deposited in an Americas Fund shall not be considered assistance for purposes of any provision of law limiting assistance to a country.
(c) Investment
Deposits made in an Americas Fund shall be invested until disbursed. Any return on such investment may be retained by the Americas Fund, without deposit in the Treasury of the United States and without further appropriation by the Congress.
(d) Disbursements
Funds in an Americas Fund shall be disbursed only pursuant to an Americas Framework Agreement.

History

(Pub. L. 87–195, pt. IV, §707, as added Pub. L. 102–549, title VI, §602(a), Oct. 28, 1992, 106 Stat. 3666.)

Editorial Notes

Editorial Notes

Prior Provisions
A prior section 707 of Pub. L. 87–195, pt. IV, Sept. 4, 1961, 75 Stat. 464, amended section 1783 of this title, prior to repeal by Pub. L. 87–565, pt. IV, §401, Aug. 1, 1962, 76 Stat. 263, except insofar as section 707 affected section 1783.