22 U.S. Code § 2796 - Leasing authority
Defense articles in the stocks of the Department of Defense may be leased or loaned to a foreign country or international organization only under the authority of this subchapter or chapter 2 of part II of the Foreign Assistance Act of 1961 [22 U.S.C. 2311 et seq.], and may not be leased to a foreign country or international organization under the authority of section 2667 of title 10.
 So in original. The words “the fiscal year” probably should not appear.
This chapter, referred to in subsec. (a)(1), was in the original “this Act”, meaning Pub. L. 90–629, Oct. 22, 1968, 82 Stat. 1321, which is classified principally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under section 2751 of this title and Tables.
The Foreign Assistance Act of 1961, referred to in subsec. (c), is Pub. L. 87–195, Sept. 4, 1961, 75 Stat. 424, as amended. Chapter 2 of part II of that Act is classified generally to part II (§ 2311 et seq.) of subchapter II of this chapter. For complete classification of this Act to the Code, see Short Title note set out under section 2151 of this title and Tables.
Amendment by Pub. L. 102–145 is based on section 545 of H.R. 2621, One Hundred Second Congress, 1st Session, as passed by the House of Representatives on June 19, 1991, which was enacted into law by Pub. L. 102–145, § 118, as added by Pub. L. 102–266, § 102, Apr. 1, 1992, 106 Stat. 93. Section 118 of Pub. L. 102–145 provided that the authority and conditions provided in such section 545 shall be applicable to funds appropriated by Pub. L. 102–145 (and are hereby enacted) in lieu of the authority and conditions provided in section 546 of Pub. L. 101–513. See 1990, 1991, and 1992 Amendment notes below.
2002—Subsec. (b). Pub. L. 107–228 designated existing provisions as par. (1), substituted “which may not exceed (A) five years, and (B) a specified period of time required to complete major refurbishment work of the leased articles to be performed prior to the delivery of the leased articles,” for “of not to exceed five years”, and added par. (2).
1998—Subsec. (a). Pub. L. 105–277 substituted “the current fiscal year” for “1998” in par. (B).
1997—Subsec. (a). Pub. L. 105–118 substituted “1998” for “1997” in par. (B).
1996—Subsec. (a). Pub. L. 104–164, § 153(a), struck out “, or to any defense article which has passed three-quarters of its normal service life.” after “electronics interface projects” in second sentence and inserted after second sentence “The President may waive the requirement of paragraph (4) for reimbursement of depreciation for any defense article which has passed three-quarters of its normal service life if the President determines that to do so is important to the national security interest of the United States.”
Pub. L. 104–208 substituted “1997” for “1996” in par. (B).
Pub. L. 104–107 substituted “1996” for “1995” in par. (B).
Subsec. (a)(4). Pub. L. 104–164, § 146, substituted “and, if the articles are lost or destroyed while leased—
“(A) in the event the United States intends to replace the articles lost or destroyed, the replacement cost (less any depreciation in the value) of the articles; or
“(B) in the event the United States does not intend to replace the articles lost or destroyed, an amount not less than the actual value (less any depreciation in the value) specified in the lease agreement” for “and the replacement cost (less any depreciation in the value) of the articles if the articles are lost or destroyed while leased”.
1994—Subsec. (a). Pub. L. 103–306 substituted “1995” for “1994” in par. (B).
Pub. L. 103–236 struck out “and” at end of par. (2), added par. (3), redesignated former par. (3) as (4), and substituted “paragraph (4)” for “paragraph (3)” in two places in provisions following par. (4).
1993—Subsec. (a). Pub. L. 103–87 substituted “1994” for “1993” in par. (B).
1992—Subsec. (a). Pub. L. 102–391 substituted “1993” for “1992” in par. (B).
1990—Subsec. (a). Pub. L. 101–513 substituted “1991” for “1990” in par. (B).
1989—Subsec. (a). Pub. L. 101–167 substituted “1990” for “1989” in par. (B).
1988—Subsec. (a). Pub. L. 100–461 substituted “1989” for “1988” in par. (B).
1987—Subsec. (a). Pub. L. 100–202 substituted “1988” for “1987” in par. (B).
1986—Subsec. (a). Pub. L. 99–500 and Pub. L. 99–591 inserted provision authorizing the President to waive the requirements of par. (3) with respect to a lease which is made in exchange with the lessee for a lease on substantially reciprocal terms of defense articles for the Department of Defense and providing exceptions to such waiver authority.
For delegation of functions of the President under this section, see section 1(t) of Ex. Ord. No. 13637, Mar. 8, 2013, 78 F.R. 16131, set out as a note under section 2751 of this title. Functions were previously delegated by Ex. Ord. No. 11958, which was formerly set out as a note under section 2751 of this title and was revoked, subject to a savings provision, by section 4 of Ex. Ord. No. 13637.