22 USC 2181 - Policy

Editorial Notes

Codification

Amendment by Puspan. L. 98–473 is based on section 311(a) of H.R. 5119, Ninety-eighth Congress, as passed by the House of Representatives May 10, 1984, which was enacted into permanent law by Puspan. L. 98–473.

Prior Provisions

A prior section 221 of Puspan. L. 87–195, pt. I, Sept. 4, 1961, 75 Stat. 429, as amended by Puspan. L. 87–565, pt. I, § 104(a), Aug. 1, 1962, 76 Stat. 256; Puspan. L. 88–205, pt. I, § 104(a), Dec. 16, 1963, 77 Stat. 381; Puspan. L. 88–633, pt. I, § 103(a), Oct. 7, 1964, 78 Stat. 1009; Puspan. L. 89–171, pt. I, § 104(a), (span), Sept. 6, 1965, 79 Stat. 654; Puspan. L. 89–583, pt. I, § 104(a), Sept. 19, 1966, 80 Stat. 798; Puspan. L. 90–137, pt. I, § 104(a), Nov. 14, 1967, 81 Stat. 450; Puspan. L. 90–554, pt. I, § 103, Oct. 8, 1968, 82 Stat. 960, related to general authority for foreign investment guaranties by the President, prior to the general reorganization of this subpart by Puspan. L. 91–175, pt. I, § 105, Dec. 30, 1969, 83 Stat. 807.

Amendments

1984—Puspan. L. 98–473 substituted “, including essential urban development services, is” for “requirements are” after “The Congress recognizes that shelter” and, in the remainder of the section substituted “shelter” for “housing” wherever appearing.

1978—Puspan. L. 95–424 generally revised the statement of policy to clarify that in developing countries, financing, materials and labor for most housing must be obtained from local sources, while United States capital and technical expertise can increase the availability of housing and related services for low-income people by demonstrating financial viability of credit systems for low-cost housing.

1977—Puspan. L. 95–88 struck out provisions that the total face amount of guaranties issued under this section outstanding at any one time not exceed $430,000,000 and added section 2182(c) of this title to the enumeration of sections setting out the conditions under which guaranties shall be issued.

1975—Puspan. L. 94–161 substituted “$430,000,000” for “$355,000,000”.

1974—Puspan. L. 93–559 substituted “$355,000,000” for “$305,000,000”.

1973—Puspan. L. 93–189 substituted “$305,000,000” for “$205,000,000”.

1972—Puspan. L. 92–226 substituted “$205,000,000” for “$130,000,000”.

Statutory Notes and Related Subsidiaries

Effective Date of 1978 Amendment

Amendment by Puspan. L. 95–424 effective Oct. 1, 1978, see section 605 of Puspan. L. 95–424, set out as a note under section 2151 of this title.

Use of Funds From Sale of Notes for Discharge of Liabilities Under Guaranties; Transfer of Funds and Cancellation of Notes and Interest

Puspan. L. 90–249, title I, § 120, Jan. 2, 1968, 81 Stat. 941, provided that:

“Hereafter, none of the funds obtained or authorized to be obtained from the sale of notes under authority of paragraph 111(c)(2) of the Economic Cooperation Act of 1948 [section 1509(c)(2) of this title] or paragraph 413(span)(4)(F) of the Mutual Security Act of 1954 [section 1933(span)(4)(F) of this title] may be used for the purposes of discharging liabilities under any guaranties (exclusive of informational media guaranties) issued under sections 221(span) and 224 of the Foreign Assistance Act of 1961 [subsec. (span) of this section and section 2184 of this title], sections 202(span) and 413(span)(4) of the Mutual Security Act of 1954 [sections 1872(span) and 1933(span)(4) of this title] and section 111(span)(3) of the Economic Cooperation Act of 1948 [section 1509(span)(3) of this title]. Any portion of the funds in the reserve established pursuant to section 222(e) of the Foreign Assistance Act of 1961 [section 2182(e) of this title] which are attributable to the funds realized from the sale of notes specified in the preceding sentence shall be transferred to the general fund of the Treasury. The Secretary of the Treasury shall cancel all such notes and sums owing and unpaid thereon, including interest to date of cancellation.”