Page:United States Statutes at Large Volume 87.djvu/763

 87 STAT. ]

731

PUBLIC LAW 93-189-DEC. 17, 1973

(7) I n section 33(a)— [A) strike out "of cash sales pursuant to sections 21 and 22,"; ^B) strike o u t " (excluding credits covered by guaranties issued pursuant to section 24(b)), of the face amount of contracts of guaranty issued pursuant to sections 24(a) and (b) " and insert in lieu thereof "of the principal amount of loans guaranteed pursuant to section 2 4 (a) "; and (C) strike out "$100,000,000" and insert in lieu thereof "$150,000,000". (8) I n section 33(b)— (A) strike out "of cash sales pursuant to sections 21 and 22,"; and (B) strike out "(excluding credits covered by guaranties issued pursuant to section 2 4 (b)), of the face amount of contracts of guaranty issued pursuant to sections 24(a) and (b) " and insert in lieu thereof "of the principal amount of loans guaranteed pursuant to section 24(a)". (9) Section 33(c) is repealed. (10) In section 36, strike out subsections (a) and (b). (11) I n section 37(b), insert after "indebtedness" the following: "under section 24(b) (excluding such portion of the sales proceeds as may be required at the time of disposition to be obligated as a reserve for payment of claims under guaranties issued pursuant to section 24(b), which sums are made available for such obligations)". (12) Add at the end thereof the following new section: "SEC. 47. DEFINITIONS.—For purposes of this Act, the term— "(1) 'excess defense article' has the meaning provided by section 644 (g) of the Foreign Assistance Act of 1961; and "(2) 'value' means, in the case of an excess defense article, not less than the greater of— " (A) the gross cost incurred by the United States Government in repairing, rehabilitating, or modifying such article, plus the scrap value; or " (B) the market value, if ascertainable."

82 Stat. 1325; 86 Stat. 32. 22 USC 2773.

22 USC 2764.

Repeal. 86 Stat. 82 Stat. 22 USC 22 USC

32. 1326. 2776. 2777.

82 Stat. 1320. 22 USC 2751. Ante,

p. 726.

AMENDMENTS TO FOREIGN M I L I T A R Y SALES ACT AMENDMENTS OF 1971

SEC. 26. The Act entitled "An Act to amend the Foreign Military Sales Act, and for other purposes", approved January 12, 1971 (84 Stat. 2053), is amended as follows: (1) Section 8(a) is amended by inserting immediately before clause (1) the following: "(less amounts to be transferred under section 632 (d) of the Foreign Assistance Act of 1961)". (2) Section 8(b) is amended— (A) by striking out "The provisions" and inserting in lieu thereof "In the case of excess defense articles which are generated abroad, the provisions"; and (B) by striking out "$185,000,000" and inserting in lieu thereof "$150,000,000". (3) Section 8(c) is amended to read as follows: "(c) For purposes of this section, the term 'value' has the same meaning as given it in section 644(m) of the Foreign Assistance Act of 1961." (4) Section 9 is repealed.

E x c e s s defense articles. 84 Stat. 2054; 86 Stat. 33. 22 USC 2321b. 81 Stat. 460. 22 USC 2392.

'Value,

Ante, p. 726. Repeal. 22 USC 2314a.

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