(a) The proceeds of overseas property acquired by the Agency for International Development under the authority of section 2396(c) of this title may be deposited in a separate fund, which shall be known as the Property Management Fund. Such proceeds shall be available for use only for the purposes of section 2396(c) of this title and for maintenance, and shall remain available until expended. The Administrator of the Agency for International Development shall report all uses of funds deposited into the Property Management Fund as part of the annual Congressional Presentation materials submitted by the Agency for International Development.
(b) The provisions of subsection (a) shall be applicable to property acquired prior to November 5, 1990, and at any time thereafter.
Codification
Section was enacted as part of the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1991, and not as part of the Foreign Assistance Act of 1961 which comprises this chapter.
Amendments
2014—Subsec. (a). Pub. L. 113–76 inserted "and for maintenance" after "purposes of section 2396(c) of this title".
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