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LegalText 22 U.S.C. § 290j1 Use of United States owned rupees to capitalize the Fund us united_states_code code_section 22 FOREIGN RELATIONS AND INTERCOURSE 7 INTERNATIONAL BUREAUS, CONGRESSES, ETC. 290j1 22 U.S.C. § 290j1 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc22@119-100.zip /us/usc/t22/s290j1 data/legal/raw/us/code/title-22/usc22.xml 190b293d2cefdd399cb5a1da26e26c7629d3ab63fa9cd985502e8f23d3251b37 b9c63ede722f5e0bf8eabfe9029e06e312ab9bcfd95c4d1424ed515baff1df83 0df49140d59af67963483ae6ecc730e229d9bd9c89a11b0f8ad0e71d81d1d5b4 2026-07-04 official
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22 U.S.C. § 290j1 - Use of United States owned rupees to capitalize the Fund

Text

(a) Subject to applicable requirements concerning reimbursement to the Treasury for United States owned foreign currencies, the President may make available to the Fund, for use in carrying out the agreement authorized by section 290j of this title, up to the equivalent of $200,000,000 in foreign currencies owned by the United States in India or owed to the United States by the Government of India. Such use may include investment in order to generate interest which would be retained in the Fund and used to support programs pursuant to that agreement.

(b) In accordance with the agreement negotiated pursuant to section 290j(a) of this title, sums made available for investment for the United States-India Fund for Cultural, Educational, and Scientific Cooperation under the Departments of Commerce, Justice, and State, and the Judiciary and Related Agencies Appropriation Act, 1985, and any earnings on such sums shall be available for the purposes of section 290j(a) of this title.

(Pub. L. 98164, title IX, § 903, Nov. 22, 1983, 97 Stat. 1051; Pub. L. 9993, title VIII, § 808, Aug. 16, 1985, 99 Stat. 452; Pub. L. 100204, title III, § 305, Dec. 22, 1987, 101 Stat. 1379.)

Notes

Editorial Notes

References in TextThe Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriation Act, 1985, referred to in subsec. (b), is Pub. L. 98411, Aug. 30, 1984, 98 Stat. 1545. For provisions relating to contribution to the United States-India Fund for Cultural, Educational, and Scientific Cooperation, see 98 Stat. 1567.

Amendments1987—Subsec. (b). Pub. L. 100204 amended subsec. (b) generally. Prior to amendment, subsec. (b) read as follows: “Pending completion of the negotiation of an agreement with the Government of India, the annual earnings generated by the moneys appropriated by the Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriation Act, 1985, may be used for the purposes set out in section 290j(a) of this title.” 1985—Pub. L. 9993 designated existing provisions as subsec. (a) and added subsec. (b).