Page:United States Statutes at Large Volume 95.djvu/1548

 PUBLIC LAW 97-113—DEC. 29, 1981

95 STAT. 1522

22 USC 2763.

22 USC 2771.

twenty years, following a grace period of ten years on repayment of principal. "(6) Of the total amount of credits (or participations in credits) extended under section 23 of this Act for the fiscal years 1982 and 1983, not less than $200,000,000 for each such year shall be available only for Egypt, and Egypt shall be released from its contractual hability to repay the United States Government with respect to such credits and participations in credits. "(7) Of the total amount of credits (or participations in credits) extended under section 23 of this Act for the fiscal years 1982 and 1983, not less than $50,000,000 for each such year shall be available only for the Sudan, and the Sudan shall be released from its contractual liability to repay the United States Government with respect to such credits and participations in credits.". (c) Section 31(c) of such Act is amended— (1) in the first sentence by striking out "fiscal year 1981" and inserting in lieu thereof "fiscal year 1982 and for the fiscal year 1983"' (2) in the last sentence by striking out "$500,000,000" and inserting in lieu thereof "$550,000,000'^ and (3) in the last sentence by inserting "each" immediately before "such year". REPEAL OF CEIUNG ON COMMERCIAL SALES

22 USC 2778.

SEC. 106. Section 38(b)(3) of the Arms Export Control Act is repealed. PERIODIC REVIEW OP ITEMS ON THE MUNITIONS LIST

Report to Congress.

50 USC app. 2401 note.

SEC. 107. Section 38 of the Arms Export Control Act is amended by adding at the end thereof the following new subsection: "(f) The President shall periodically review the items on the United States Munitions List to determine what items, if any, no longer warrant export controls under this section. The results of such reviews shall be reported to the Speaker of the House of Representatives and to the Committee on Foreign Relations and the Committee on Banking, Housing, and Urban Affairs of the Senate. Such a report shall be submitted at least 30 days before any item is removed from the Munitions List and shall describe the nature of any controls to be imposed on that item under the Export Administration Act of 1979.". SPECIAL DEFENSE ACQUISITION FUND

SEC. 108. (a) The Arms Export Control Act is amended by adding at the end thereof the following new chapter: "CHAPTER 5—SPECIAL DEFENSE ACQUISITION FUND Establishment. 22 USC 2795.

22 USC 2151 note.

51. SPECIAL DEFENSE ACQUISITION FUND.—(a)(1) Under the direction of the President and in consultation with the Secretary of State, the Secretary of Defense shall establish a Special Defense Acquisition Fund (hereafter in this chapter referred to as the 'Fund'), to be used as a revolving fund separate from other accounts, under the control of the Department of Defense, to finance the acquisition of defense articles and defense service in anticipation of their transfer pursuant to this Act, the Foreign Assistance Act of 1961, or as otherwise authorized by law, to eligible foreign countries and international organizations, and may acquire such articles and services with "SEC.

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