§ 4416. — Retention of interest.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 22USC4416]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 54--PRIVATE ORGANIZATION ASSISTANCE
SUBCHAPTER II--NATIONAL ENDOWMENT FOR DEMOCRACY
Sec. 4416. Retention of interest
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.
(Pub. L. 105-277, div. G, subdiv. B, title XXIV, Sec. 2411, Oct. 21,
1998, 112 Stat. 2681-831.)
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.
