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U.S. Code as of:
01/19/04
Section 1531. Buying Power Maintenance accounts for International Trade Administration, Export Administration, and United States Travel and Tourism Administration
In order to maintain overseas program activity for the Department
of Commerce provided for each fiscal year at the appropriated
program levels, the Secretary may establish Buying Power
Maintenance accounts for the International Trade Administration,
the Export Administration, and the United States Travel and Tourism
Administration. There are authorized to be appropriated for such
accounts such sums as may be necessary to offset adverse
fluctuations in foreign currency exchange rates, or unbudgeted
overseas wage and price changes. To eliminate substantial gains to
the approved levels of overseas operations, the Secretary shall
transfer to a Buying Power Maintenance account such amounts
determined to be excessive to the needs of the approved level of
overseas operations because of fluctuations in foreign currency
exchange rates or changes in unbudgeted overseas wages and prices,
including unobligated balances associated with the overseas
program. To offset adverse fluctuations in foreign currency
exchange rates or unbudgeted overseas wage and price changes, the
Secretary may transfer from a Buying Power Maintenance account such
amounts determined to be necessary to maintain the approved level
of overseas operations under an appropriation account. Funds
transferred by the Secretary to or from a Buying Power Maintenance
account to another account shall be merged with and be available
for the same purpose, and for the same time period, as the funds in
the account into which transferred. Any restriction contained in an
appropriation Act or other provision of law limiting the amounts
available for the Department of Commerce that may be obligated or
expended shall be deemed to be adjusted to the extent necessary to
offset the net effect of fluctuations in foreign currency exchange
rates or unbudgeted overseas wage and price changes in order to
maintain approved levels.
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