Page:United States Statutes at Large Volume 110 Part 1.djvu/756

 110 STAT. 732 PUBLIC LAW 104-107—FEB. 12, 1996 President. STOCKPILES OF DEFENSE ARTICLES SEC. 53 IB. (a) LIMITATION ON VALUE OF ADDITIONS.— Section 514(b)(1) of the Foreign Assistance Act of 1961 (22 U.S.C. 2321h(b)(l)) is amended by inserting "or in the implementation of agreements with Israel" after "North Atlantic Treaty Organization". (b) ADDITIONS IN FISCAL YEARS 1996 AND 1997.—Section 514(b)(2) of such Act (22 U.S.C. 2321h(b)(2)) is amended to read as follows: "(2)(A) The value of such additions to stockpiles of defense articles in foreign countries shall not exceed $50,000,000 for each of the fiscal years 1996 and 1997. "(B) Of the amount specified in subparagraph (A) for each of the fiscal years 1996 and 1997, not more than $40,000,000 may be made available for stockpiles in the Republic of Korea and not more than $10,000,000 may be made available for stockpiles in Thailand. ". (c) LOCATION OF STOCKPILES OF DEFENSE AUTHORITIES.— Section 514(c) of such Act (22 U.S.C. 2321h(c)) is amended to read as follows: "(c) LOCATION OF STOCKPILES OF DEFENSE ARTICLES. — "(1) LIMITATION.— Except as provided in paragraph (2), no stockpile of defense articles may be located outside the boundaries of a United States military base or a military base used primarily by the United States. "(2) EXCEPTIONS.—Paragraph (1) shall not apply with respect to stockpiles of defense articles located in the Republic of Korea, Thailand, any country that is a member of the North Atlantic Treaty Organization, any country that is a major non- NATO ally, or any other country the President may designate. At least 15 days before designating a country pursuant to the last clause of the preceding sentence, the President shall notify the congressional committees specified in section 634A(a). in accordance with the procedures applicable to reprogramming notifications under that section.". 22 USC 2359 note. Contracts. SEPARATE ACCOUNTS SEC. 532. (a) SEPARATE ACCOUNTS FOR LOCAL CURRENCIES.— (1) If assistance is furnished to the government of a foreign country under chapters 1 and 10 of part I or chapter 4 of part II of the Foreign Assistance Act of 1961 under agreements which result in the generation of local currencies of that country, the Administrator of the Agency for International Development shall— (A) require that local currencies be deposited in a separate account established by that government; (B) enter into an agreement with that government which sets forth— (i) the amount of the local currencies to be generated, and (ii) the terms and conditions under which the currencies so deposited may be utilized, consistent with this section; and (C) establish by agreement with that government the responsibilities of the Agency for International Development and that government to monitor and account for deposits into and disbursements from the separate account.

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