Page:United States Statutes at Large Volume 86.djvu/99

 86 STAT. ]

PUBLIC LAW 92-245-MAR. 10, 1972

ance of such funds, and the interest thereon, shall be combined and distributed with any other tribal funds that may hereafter become available for per capita distribution. SEC. "2. None of the funds distributed per capita under the provisions of this Act shall be subject to Federal or State income tax. Any per capita share payable to a person under twenty-one years of age or to a person under legal disability shall be paid in accordance with such procedures, including the establishment of trusts, as the Secretary determines will adequately protect the best interest of such persons. Approved March 9, 1972.

57

"^^^ exemption.

Public Law 92-245 AN ACT

To authorize United States contributions to the Special Funds of the Asian Development Bank.

March 10, 1972

'•—

2

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Asian jn^^'I'^^k^^^^"^' Development Bank Act (22 U.S.C. 285-285h) is amended by adding "'specil'i Funds, at the end thereof the following new sections: u.s. contribu"SEC. 12. (a) Subject to the provisions of this Act, the United States ''goStat. 7i. Governor of the Bank is authorized to enter into an agreement with the Bank providing for a United States contribution of $100,000,000 to the Bank in two annual installments of $60,000,000 and $40,000,000, beginning in fiscal year 1972. This contribution is referred to herein- sp"^i^"Re^'^*^^ after in this Act as the 'United States Special Resources'. sources." " (b) The United States Special Resources shall be made available to the Bank pursuant to the provisions of this Act and article 19 of the Articles of Agreement of the Bank, and in a manner consistent ^^ UST u i s. with the Bank's Special Funds Rules and Regulations. "SEC. 13. (a) The United States Special Resources shall be used to finance specific high priority development projects and programs in developing member countries of the Bank with emphasis on such projects and programs in the Southeast Asia region. " (b) The United States Special Resources shall be used by the Bank only for— "(1) making development loans on terms-which may be more flexible and bear less heavily on the balance of payments than those established by the Bank for its ordinary operations; and "(2) providing technical assistance credit^, on a reimbursable basis. "(c)(1) The United States Special Resources may be expended by ^^^^^^'XeT'^^ the Bank only for procurement in the United States of goods produced in, or services supplied from, the United States, except that the United States Governor, in consultation with the National Advisory Council on International Monetary and Financial Tolicies, may allow Icl) eligibility for procurement in other member countries from the United States Special Resources if he determines that such procurement eligibility would materially improve the ability of the Bank to carry out the objectives of its special funds resources and would be compatible with the international financial position of the United States. "(2) The United States Special Resources may be used to pay for e xAdministrative penses. administrative expenses arising from the use of the United States Special Resources, but only to the extent such expenses are not covered from the Bank's service fee or income from use of United States Special Resources.

�