22 USC 2771 - Military sales authorizations and ceilings

U.S Code last checked for updates: May 04, 2024

§ 2771.

Military sales authorizations and ceilings

(a)

Authorization for foreign military sales credit and guarantee program

(b)

Aggregate ceilings on credit sales; availability at concessional rates of interest

(1)

The total amount of credits extended under section 2763 of this title shall not exceed $5,371,000,000 for fiscal year 1986 and $5,371,000,000 for fiscal year 1987.

(2)

Of the aggregate amount of financing provided under this section, not more than $553,900,000 for fiscal year 1986 and not more than $553,900,000 for fiscal year 1987 may be made available at concessional rates of interest. If a country is released from its contractual liability to repay the United States Government with respect to financing provided under this section, such financing shall not be considered to be financing provided at concessional rates of interest for purposes of the limitation established by this paragraph.

(c)

Interest rates

(Pub. L. 90–629, ch. 3, § 31, Oct. 22, 1968, 82 Stat. 1324; Pub. L. 91–672, § 2, Jan. 12, 1971, 84 Stat. 2053; Pub. L. 92–226, pt. IV, § 401(a), (b), Feb. 7, 1972, 86 Stat. 32; Pub. L. 93–189, § 25(5), (6), Dec. 17, 1973, 87 Stat. 730; Pub. L. 93–559, § 45(a)(6), (7), Dec. 30, 1974, 88 Stat. 1815; Pub. L. 94–329, title II, § 210(a)–(c)(1), June 30, 1976, 90 Stat. 740; Pub. L. 95–92, § 19, Aug. 4, 1977, 91 Stat. 623; Pub. L. 95–384, § 20, Sept. 26, 1978, 92 Stat. 741; Pub. L. 96–92, § 17(a), Oct. 29, 1979, 93 Stat. 708; Pub. L. 96–533, title I, §§ 104(d), 105(b)(3), 106(a)–(c), Dec. 16, 1980, 94 Stat. 3133–3136; Pub. L. 97–113, title I, § 105, Dec. 29, 1981, 95 Stat. 1521; Pub. L. 98–151, § 101(b)(2), Nov. 14, 1983, 97 Stat. 969, 970; Pub. L. 99–83, title I, § 101(a), (b), Aug. 8, 1985, 99 Stat. 193; Pub. L. 101–513, title V, § 596(c), Nov. 5, 1990, 104 Stat. 2062; Pub. L. 104–164, title I, §§ 101, 104(b)(2)(C), July 21, 1996, 110 Stat. 1422, 1427.)

cite as: 22 USC 2771