Retention of interest

U.S.C. Title 22 - FOREIGN RELATIONS AND INTERCOURSE 22 U.S.C. United States Code, 2023 Edition Title 22 - FOREIGN RELATIONS AND INTERCOURSE CHAPTER 54 - PRIVATE ORGANIZATION ASSISTANCE SUBCHAPTER II - NATIONAL ENDOWMENT FOR DEMOCRACY Sec. 4416 - Retention of interest From the U.S. Government Publishing Office, www.gpo.gov

§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, §2411, Oct. 21, 1998, 112 Stat. 2681–831.)

Editorial Notes

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.