-CITE-

22 USC CHAPTER 54 - PRIVATE ORGANIZATION ASSISTANCE 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 54 - PRIVATE ORGANIZATION ASSISTANCE

-HEAD-

CHAPTER 54 - PRIVATE ORGANIZATION ASSISTANCE

-MISC1-

SUBCHAPTER I - THE ASIA FOUNDATION

Sec.

4401. Findings.

4402. Grants; authorization; purposes; terms and conditions;

deposit of interest.

4403. Funding.

SUBCHAPTER II - NATIONAL ENDOWMENT FOR DEMOCRACY

4411. Findings; statement of purposes.

4412. Grants to the Endowment.

(a) Authorization; funding; grant agreement.

(b) Implementation of purposes.

(c) Status of Endowment.

(d) Oversight procedures applicable.

(e) Amounts to Free Trade Union Institute and

National Chamber Foundation.

(f) Independent labor unions.

4413. Eligibility of the Endowment for grants.

(a) Compliance with statutory requirements.

(b) Funding for private sector groups and covered

programs only.

(c) Compensation, etc., for officers and employees

of the Endowment.

(d) Prohibitions respecting financial matters.

(e) Audit of accounts; reporting requirements.

(f) Audit of financial transactions; reporting

requirements.

(g) Audits by United States Information Agency.

(h) Recordkeeping requirements; audit and

examination of books, etc.

(i) Annual report; contents; testimony respecting

report.

(j) Grantee; conflict of interest.

4414. Requirements relating to the Endowment and its

grantees.

(a) Partisan politics.

(b) Consultation with Department of State.

4415. Freedom of information.

(a) Compliance with Freedom of Information Act.

(b) Publication in Federal Register.

(c) Review by United States Information Agency.

4416. Retention of interest.

-End-

-CITE-

22 USC SUBCHAPTER I - THE ASIA FOUNDATION 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 54 - PRIVATE ORGANIZATION ASSISTANCE

SUBCHAPTER I - THE ASIA FOUNDATION

-HEAD-

SUBCHAPTER I - THE ASIA FOUNDATION

-End-

-CITE-

22 USC Sec. 4401 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 54 - PRIVATE ORGANIZATION ASSISTANCE

SUBCHAPTER I - THE ASIA FOUNDATION

-HEAD-

Sec. 4401. Findings

-STATUTE-

The Congress finds that -

(1) The Asia Foundation, a private nonprofit corporation

incorporated in 1954 in the State of California, has long been

active in promoting Asian-American friendship and cooperation and

in lending encouragement and assistance to Asians in their own

efforts to develop more open, more just, and more democratic

societies;

(2) The Asia Foundation's commitment to strengthening

indigenous Asian institutions which further stable national

development, constructive social change, equitable economic

growth, and cooperative international relationships is fully

consistent with and supportive of long-term United States

interests in Asia;

(3) The Asia Foundation, as a private organization, is able to

conduct programs in response to Asian initiatives that would be

difficult or impossible for an official United States

instrumentality, and it is in a position in Asia to respond

quickly and flexibly to meet new opportunities;

(4) in recognition of the valuable contributions of The Asia

Foundation to long-range United States foreign policy interests,

the United States Government has, through a variety of agencies,

provided financial support for The Asia Foundation; and

(5) it is in the interest of the United States, and the further

strengthening of Asian-American friendship and cooperation, to

establish a more permanent mechanism for United States Government

financial support for the ongoing activities of The Asia

Foundation, while preserving the independent character of the

Foundation.

-SOURCE-

(Pub. L. 98-164, title IV, Sec. 402, Nov. 22, 1983, 97 Stat. 1038.)

-MISC1-

SHORT TITLE

Section 401 of title IV of Pub. L. 98-164 provided that: "This

title [enacting this subchapter] may be cited as 'The Asia

Foundation Act'."

For short title of title V of Pub. L. 98-164, which enacted

subchapter II of this chapter, as the "National Endowment for

Democracy Act", see section 501 of Pub. L. 98-164, set out as a

Short Title note under section 4411 of this title.

-End-

-CITE-

22 USC Sec. 4402 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 54 - PRIVATE ORGANIZATION ASSISTANCE

SUBCHAPTER I - THE ASIA FOUNDATION

-HEAD-

Sec. 4402. Grants; authorization; purposes; terms and conditions;

deposit of interest

-STATUTE-

(a) The Secretary of State shall make an annual grant to The Asia

Foundation with the funds made available under section 4403 of this

title. Such grants shall be in general support of the Foundation's

programs and operations. The terms and conditions of grants

pursuant to this section shall be set forth in a grant agreement

between the Secretary of State and The Asia Foundation.

(b) If funds made available to The Asia Foundation pursuant to

this subchapter or pursuant to any other provision of law are, with

the permission of the head of the Federal agency making the funds

available, invested by the Foundation or any of its subgrantees

pending disbursement, the resulting interest is not required to be

deposited in the United States Treasury if that interest is used

for the purposes for which the funds were made available.

-SOURCE-

(Pub. L. 98-164, title IV, Sec. 403, Nov. 22, 1983, 97 Stat. 1038.)

-End-

-CITE-

22 USC Sec. 4403 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 54 - PRIVATE ORGANIZATION ASSISTANCE

SUBCHAPTER I - THE ASIA FOUNDATION

-HEAD-

Sec. 4403. Funding

-STATUTE-

There is authorized to be appropriated to the Secretary of State

$15,000,000 for the fiscal year 2003 for grants to The Asia

Foundation pursuant to this subchapter.

-SOURCE-

(Pub. L. 98-164, title IV, Sec. 404, Nov. 22, 1983, 97 Stat. 1039;

Pub. L. 99-93, title IV, Sec. 401, Aug. 16, 1985, 99 Stat. 437;

Pub. L. 100-204, title VI, Sec. 601, Dec. 22, 1987, 101 Stat. 1383;

Pub. L. 101-246, title V, Sec. 501, Feb. 16, 1990, 104 Stat. 73;

Pub. L. 105-277, div. G, subdiv. B, title XXI, Sec. 2103, Oct. 21,

1998, 112 Stat. 2681-803; Pub. L. 106-113, div. B, Sec. 1000(a)(7)

[div. A, title I, Sec. 105], Nov. 29, 1999, 113 Stat. 1536,

1501A-414; Pub. L. 107-228, div. A, title I, Sec. 116, Sept. 30,

2002, 116 Stat. 1360.)

-MISC1-

AMENDMENTS

2002 - Pub. L. 107-228 amended section generally. Prior to

amendment, section read as follows: "There are authorized to be

appropriated to the Secretary of State $15,000,000 for each of the

fiscal years 2000 and 2001 for grants to The Asia Foundation

pursuant to this subchapter."

1999 - Pub. L. 106-113 amended section generally. Prior to

amendment, section read as follows: "There are authorized to be

appropriated to the Secretary of State $10,000,000 for each of the

fiscal years 1998 and 1999 for grants to The Asia Foundation

pursuant to this subchapter."

1998 - Pub. L. 105-277 amended section generally. Prior to

amendment, section read as follows:

"(a) Authorization of Appropriations. - There are authorized to

be appropriated to the Secretary of State $13,900,000 for the

fiscal year 1990 and $18,000,000 for the fiscal year 1991 for

grants to The Asia Foundation pursuant to this subchapter.

"(b) Allocation of Funds. - Of amounts authorized to be

appropriated under subsection (a) of this section, $1,324,000 for

the fiscal year 1990 and $1,324,000 for the fiscal year 1991 shall

be available only for the expansion of programs and services

(including the establishment of a field office) for Oceania,

comprised of Polynesia, Micronesia, and Melanesia."

1990 - Pub. L. 101-246 amended section generally. Prior to

amendment, section read as follows: "There is authorized to be

appropriated to the Secretary of State $13,700,000 for the fiscal

year 1988 and $15,000,000 for the fiscal year 1989 for grants to

the Asia Foundation pursuant to this subchapter."

1987 - Pub. L. 100-204 amended section generally. Prior to

amendment, section read as follows: "There are authorized to be

appropriated to the Secretary of State $10,500,000 for each of the

fiscal years 1986 and 1987 for grants to The Asia Foundation

pursuant to this subchapter."

1985 - Pub. L. 99-93 amended section generally, substituting

"$10,500,000 for each of the fiscal years 1986 and 1987" for

"$5,000,000 for the fiscal year 1983, $10,000,000 for the fiscal

year 1984, and $10,000,000 for the fiscal year 1985".

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 4402 of this title.

-End-

-CITE-

22 USC SUBCHAPTER II - NATIONAL ENDOWMENT FOR DEMOCRACY 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 54 - PRIVATE ORGANIZATION ASSISTANCE

SUBCHAPTER II - NATIONAL ENDOWMENT FOR DEMOCRACY

-HEAD-

SUBCHAPTER II - NATIONAL ENDOWMENT FOR DEMOCRACY

-SECREF-

SUBCHAPTER REFERRED TO IN OTHER SECTIONS

This subchapter is referred to in section 2275 of this title.

-End-

-CITE-

22 USC Sec. 4411 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 54 - PRIVATE ORGANIZATION ASSISTANCE

SUBCHAPTER II - NATIONAL ENDOWMENT FOR DEMOCRACY

-HEAD-

Sec. 4411. Findings; statement of purposes

-STATUTE-

(a) The Congress finds that there has been established in the

District of Columbia a private, nonprofit corporation known as the

National Endowment for Democracy (hereafter in this subchapter

referred to as the "Endowment") which is not an agency or

establishment of the United States Government.

(b) The purposes of the Endowment, as set forth in its articles

of incorporation, are -

(1) to encourage free and democratic institutions throughout

the world through private sector initiatives, including

activities which promote the individual rights and freedoms

(including internationally recognized human rights) which are

essential to the functioning of democratic institutions;

(2) to facilitate exchanges between United States private

sector groups (especially the two major American political

parties, labor, and business) and democratic groups abroad;

(3) to promote United States nongovernmental participation

(especially through the two major American political parties,

labor, business, and other private sector groups) in democratic

training programs and democratic institution-building abroad;

(4) to strengthen democratic electoral processes abroad through

timely measures in cooperation with indigenous democratic forces;

(5) to support the participation of the two major American

political parties, labor, business, and other United States

private sector groups in fostering cooperation with those abroad

dedicated to the cultural values, institutions, and organizations

of democratic pluralism; and

(6) to encourage the establishment and growth of democratic

development in a manner consistent both with the broad concerns

of United States national interests and with the specific

requirements of the democratic groups in other countries which

are aided by programs funded by the Endowment.

-SOURCE-

(Pub. L. 98-164, title V, Sec. 502, Nov. 22, 1983, 97 Stat. 1039.)

-MISC1-

SHORT TITLE

Section 501 of title V of Pub. L. 98-164 provided that: "This

title [enacting this subchapter] may be cited as the 'National

Endowment for Democracy Act'."

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 4412, 4413 of this title.

-End-

-CITE-

22 USC Sec. 4412 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 54 - PRIVATE ORGANIZATION ASSISTANCE

SUBCHAPTER II - NATIONAL ENDOWMENT FOR DEMOCRACY

-HEAD-

Sec. 4412. Grants to the Endowment

-STATUTE-

(a) Authorization; funding; grant agreement

The Director of the United States Information Agency shall make

an annual grant to the Endowment to enable the Endowment to carry

out its purposes as specified in section 4411(b) of this title.

Such grants shall be made with funds specifically appropriated for

grants to the Endowment or with funds appropriated to the Agency

for the "Salaries and Expenses" account. Such grants shall be made

pursuant to a grant agreement between the Director and the

Endowment which requires that grant funds will only be used for

activities which the Board of Directors of the Endowment determines

are consistent with the purposes described in section 4411(b) of

this title, that the Endowment will allocate funds in accordance

with subsection (e) of this section, and that the Endowment will

otherwise comply with the requirements of this subchapter. The

grant agreement may not require the Endowment to comply with

requirements other than those specified in this subchapter.

(b) Implementation of purposes

Funds so granted may be used by the Endowment to carry out the

purposes described in section 4411(b) of this title, and otherwise

applicable limitations on the purposes for which funds appropriated

to the United States Information Agency may be used shall not apply

to funds granted to the Endowment.

(c) Status of Endowment

Nothing in this subchapter shall be construed to make the

Endowment an agency or establishment of the United States

Government or to make the members of the Board of Directors of the

Endowment, or the officers or employees of the Endowment, officers

or employees of the United States.

(d) Oversight procedures applicable

The Endowment and its grantees shall be subject to the

appropriate oversight procedures of the Congress.

(e) Amounts to Free Trade Union Institute and National Chamber

Foundation

Of the amounts made available to the Endowment for each of the

fiscal years 1984 and 1985 to carry out programs in furtherance of

the purposes of this Act -

(1) not less than $13,800,000 shall be for the Free Trade Union

Institute; and

(2) not less than $2,500,000 shall be to support private

enterprise development programs of the National Chamber

Foundation.

(f) Independent labor unions

Nothing in this subchapter shall preclude the Endowment from

making grants to independent labor unions.

-SOURCE-

(Pub. L. 98-164, title V, Sec. 503, Nov. 22, 1983, 97 Stat. 1040;

Pub. L. 100-204, title II, Sec. 212, Dec. 22, 1987, 101 Stat.

1376.)

-REFTEXT-

REFERENCES IN TEXT

This Act, referred to in subsec. (e), is Pub. L. 98-164, Nov. 22,

1983, 97 Stat. 1017. For complete classification of this Act to the

Code, see Tables.

-MISC1-

AMENDMENTS

1987 - Subsec. (f). Pub. L. 100-204 added subsec. (f).

-TRANS-

TRANSFER OF FUNCTIONS

United States Information Agency (other than Broadcasting Board

of Governors and International Broadcasting Bureau) abolished and

functions transferred to Secretary of State, see sections 6531 and

6532 of this title.

-End-

-CITE-

22 USC Sec. 4413 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 54 - PRIVATE ORGANIZATION ASSISTANCE

SUBCHAPTER II - NATIONAL ENDOWMENT FOR DEMOCRACY

-HEAD-

Sec. 4413. Eligibility of the Endowment for grants

-STATUTE-

(a) Compliance with statutory requirements

Grants may be made to the Endowment under this subchapter only if

the Endowment agrees to comply with the requirements specified in

this section and elsewhere in this subchapter.

(b) Funding for private sector groups and covered programs only

(1) The Endowment may only provide funding for programs of

private sector groups and may not carry out programs directly.

(2) The Endowment may provide funding only for programs which are

consistent with the purposes set forth in section 4411(b) of this

title.

(c) Compensation, etc., for officers and employees of Endowment

(1) Officers of the Endowment may not receive any salary or other

compensation from any source, other than the Endowment, for

services rendered during the period of their employment by the

Endowment.

(2) If an individual who is an officer or employee of the United

States Government serves as a member of the Board of Directors or

as an officer or employee of the Endowment, that individual may not

receive any compensation or travel expenses in connection with

services performed for the Endowment.

(d) Prohibitions respecting financial matters

(1) The Endowment shall not issue any shares of stock or declare

or pay any dividends.

(2) No part of the assets of the Endowment shall inure to the

benefit of any member of the Board, any officer or employee of the

Endowment, or any other individual, except as salary or reasonable

compensation for services.

(e) Audit of accounts; reporting requirements

(1) The accounts of the Endowment shall be audited annually in

accordance with generally accepted auditing standards by

independent certified public accountants or independent licensed

public accountants certified or licensed by a regulatory authority

of a State or other political subdivision of the United States. The

audits shall be conducted at the place or places where the accounts

of the Endowment are normally kept. All books, accounts, financial

records, reports, files, and all other papers, things, or property

belonging to or in use by the Endowment and necessary to facilitate

the audits shall be made available to the person or persons

conducting the audits; and full facilities for verifying

transactions with any assets held by depositories, fiscal agents,

and custodians shall be afforded to such person or persons.

(2) The report of each such independent audit shall be included

in the annual report required by subsection (h) of this section.

The audit report shall set forth the scope of the audit and include

such statements as are necessary to present fairly the Endowment's

assets and liabilities, surplus or deficit, with an analysis of the

changes therein during the year, supplemented in reasonable detail

by a statement of the Endowment's income and expenses during the

year, and a statement of the application of funds, together with

the independent auditor's opinion of those statements.

(f) Audit of financial transactions; reporting requirements

(1) The financial transactions of the Endowment for each fiscal

year may be audited by the General Accounting Office in accordance

with such principles and procedures and under such rules and

regulations as may be prescribed by the Comptroller General of the

United States. Any such audit shall be conducted at the place or

places where accounts of the Endowment are normally kept. The

representatives of the General Accounting Office shall have access

to all books, accounts, records, reports, files, and all other

papers, things, or property belonging to or in use by the Endowment

pertaining to its financial transactions and necessary to

facilitate the audit; and they shall be afforded full facilities

for verifying transactions with any assets held by depositories,

fiscal agents, and custodians. All such books, accounts, records,

reports, files, papers, and property of the Endowment shall remain

in the possession and custody of the Endowment.

(2) A report of each such audit shall be made by the Comptroller

General to the Congress. The report to the Congress shall contain

such comments and information as the Comptroller General may deem

necessary to inform the Congress of the financial operations and

condition of the Endowment, together with such recommendations with

respect thereto as he may deem advisable. The report shall also

show specifically any program, expenditure, or other financial

transaction or undertaking observed in the course of the audit,

which, in the opinion of the Comptroller General, has been carried

on or made contrary to the requirements of this subchapter. A copy

of each report shall be furnished to the President and to the

Endowment at the time submitted to the Congress.

(g) Audits by United States Information Agency

The financial transactions of the Endowment for each fiscal year

shall be audited by the United States Information Agency under the

conditions set forth in subsection (f)(1) of this section.

(h) Recordkeeping requirements; audit and examination of books,

etc.

(1) The Endowment shall ensure that each recipient of assistance

provided through the Endowment under this subchapter keeps separate

bank accounts or separate self-balancing ledger accounts with

respect to such assistance and such records as may be reasonably

necessary to fully disclose the amount and the disposition by such

recipient of the proceeds of such assistance, the total cost of the

project or undertaking in connection with which such assistance is

given or used, and the amount and nature of that portion of the

cost of the project or undertaking supplied by other sources, and

such other records as will facilitate an effective audit.

(2) The Endowment shall ensure that it, or any of its duly

authorized representatives, shall have access for the purpose of

audit and examination to any books, documents, papers, and records

of the recipient that are pertinent to assistance provided through

the Endowment under this subchapter. The Comptroller General of the

United States or any of his duly authorized representatives shall

also have access thereto for such purpose.

(i) Annual report; contents; testimony respecting report

Not later than February 1 of each year, the Endowment shall

submit an annual report for the preceding fiscal year to the

President for transmittal to the Congress. The report shall include

a comprehensive and detailed report of the Endowment's operations,

activities, financial condition, and accomplishments under this

subchapter and may include such recommendations as the Endowment

deems appropriate. The Board members and officers of the Endowment

shall be available to testify before appropriate committees of the

Congress with respect to such report, the report of any audit made

by the Comptroller General pursuant to subsection (f) of this

section, or any other matter which any such committee may

determine.

(j) Grantee; conflict of interest

After January 31, 1993, no member of the Board of the Endowment

may be a member of the board of directors or an officer of any

grantee of the National Endowment for Democracy which receives more

than 5 percent of the funds of the Endowment for any fiscal year.

-SOURCE-

(Pub. L. 98-164, title V, Sec. 504, Nov. 22, 1983, 97 Stat. 1040;

Pub. L. 99-93, title II, Sec. 210(b), (d), Aug. 16, 1985, 99 Stat.

432; Pub. L. 100-204, title II, Sec. 211, Dec. 22, 1987, 101 Stat.

1376; Pub. L. 102-138, title II, Secs. 211(d), 215, Oct. 28, 1991,

105 Stat. 695, 697; Pub. L. 103-236, title II, Sec. 228, Apr. 30,

1994, 108 Stat. 423.)

-MISC1-

AMENDMENTS

1994 - Subsec. (h)(1). Pub. L. 103-236 substituted "bank accounts

or separate self-balancing ledger accounts" for "accounts".

1991 - Subsec. (g). Pub. L. 102-138, Sec. 211(d), substituted

"shall" for "may also" before "be audited".

Subsec. (j). Pub. L. 102-138, Sec. 215, added subsec. (j).

1987 - Subsec. (h)(1). Pub. L. 100-204 inserted "separate

accounts with respect to such assistance and" after "keeps".

1985 - Subsecs. (g) to (i). Pub. L. 99-93 added subsec. (g),

redesignated existing subsecs. (g) and (h) as (h) and (i),

respectively, and in subsec. (i) substituted "February 1" for

"December 31".

-TRANS-

TRANSFER OF FUNCTIONS

United States Information Agency (other than Broadcasting Board

of Governors and International Broadcasting Bureau) abolished and

functions transferred to Secretary of State, see sections 6531 and

6532 of this title.

-End-

-CITE-

22 USC Sec. 4414 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 54 - PRIVATE ORGANIZATION ASSISTANCE

SUBCHAPTER II - NATIONAL ENDOWMENT FOR DEMOCRACY

-HEAD-

Sec. 4414. Requirements relating to the Endowment and its grantees

-STATUTE-

(a) Partisan politics

(1) Funds may not be expended, either by the Endowment or by any

of its grantees, to finance the campaigns of candidates for public

office.

(2) No funds granted by the Endowment may be used to finance

activities of the Republican National Committee or the Democratic

National Committee.

(3) No grants may be made to any institute, foundation, or

organization engaged in partisan activities on behalf of the

Republican or Democratic National Committee, on behalf of any

candidate for public office, or on behalf of any political party in

the United States.

(b) Consultation with Department of State

The Endowment shall consult with the Department of State on any

overseas program funded by the Endowment prior to the commencement

of the activities of that program.

-SOURCE-

(Pub. L. 98-164, title V, Sec. 505, as added Pub. L. 99-93, title

II, Sec. 210(a), Aug. 16, 1985, 99 Stat. 431.)

-End-

-CITE-

22 USC Sec. 4415 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 54 - PRIVATE ORGANIZATION ASSISTANCE

SUBCHAPTER II - NATIONAL ENDOWMENT FOR DEMOCRACY

-HEAD-

Sec. 4415. Freedom of information

-STATUTE-

(a) Compliance with Freedom of Information Act

Notwithstanding the fact that the Endowment is not an agency or

establishment of the United States Government, the Endowment shall

fully comply with all of the provisions of section 552 of title 5.

(b) Publication in Federal Register

For purposes of complying pursuant to subsection (a) of this

section with section 552(a)(1) of such title, the Endowment shall

make available to the Director of the United States Information

Agency such records and other information as the Director

determines may be necessary for such purposes. The Director shall

cause such records and other information to be published in the

Federal Register.

(c) Review by United States Information Agency

(1) In the event that the Endowment determines not to comply with

a request for records under section 552, the Endowment shall submit

a report to the Director of the United States Information Agency

explaining the reasons for not complying with such request.

(2) If the Director approves the determination not to comply with

such request, the United States Information Agency shall assume

full responsibility, including financial responsibility, for

defending the Endowment in any litigation relating to such request.

(3) If the Director disapproves the determination not to comply

with such request, the Endowment shall comply with such request.

-SOURCE-

(Pub. L. 98-164, title V, Sec. 506, as added Pub. L. 99-93, title

II, Sec. 210(a), Aug. 16, 1985, 99 Stat. 432.)

-TRANS-

TRANSFER OF FUNCTIONS

United States Information Agency (other than Broadcasting Board

of Governors and International Broadcasting Bureau) abolished and

functions transferred to Secretary of State, see sections 6531 and

6532 of this title.

-End-

-CITE-

22 USC Sec. 4416 01/06/03

-EXPCITE-

TITLE 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 54 - PRIVATE ORGANIZATION ASSISTANCE

SUBCHAPTER II - NATIONAL ENDOWMENT FOR DEMOCRACY

-HEAD-

Sec. 4416. Retention of interest

-STATUTE-

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-

(Pub. L. 105-277, div. G, subdiv. B, title XXIV, Sec. 2411, Oct.

21, 1998, 112 Stat. 2681-831.)

-COD-

CODIFICATION

Section was enacted as part of the Foreign Relations

Authorization Act, Fiscal Years 1998 and 1999, and also as part of

the Foreign Affairs Reform and Restructuring Act of 1998 and the

Omnibus Consolidated and Emergency Supplemental Appropriations Act,

1999, and not as part of the National Endowment for Democracy Act

which comprises this subchapter.

-End-