§ 1531. — Buying Power Maintenance accounts for International Trade Administration, Export Administration, and United States Travel and Tourism Administration.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC1531]
TITLE 15--COMMERCE AND TRADE
CHAPTER 40--DEPARTMENT OF COMMERCE
Sec. 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.
(Pub. L. 100-202, Sec. 101(a) [title I, Sec. 108], Dec. 22, 1987, 101
Stat. 1329, 1329-7.)
