7 U.S. Code § 1736e - Debt forgiveness
The aggregate amount of principal and interest waived under this section may not exceed the amount approved for such purpose in an Act appropriating funds to carry out this chapter.
If the authority of this section is used to waive payments otherwise required to be made by a country pursuant to this chapter, the President may not provide any new credit assistance for that country under this chapter during the 2-year period beginning on the date such waiver authority is exercised, unless the President provides to the Congress, before the assistance is provided, a written justification for the provision of such new credit assistance.
The authority of this section applies with respect to credit sales agreements entered into before November 28, 1990.
1991—Subsec. (a). Pub. L. 102–237, § 326, substituted “subchapter II” for “this subchapter” in introductory provisions.
Subsec. (b). Pub. L. 102–237, § 336, inserted “at least 10 days prior to providing the debt relief” before period at end of first sentence.
Subsec. (e). Pub. L. 102–237, § 322, substituted “November 28, 1990” for “the date of enactment of this Act”.
1990—Pub. L. 101–624 amended section generally, substituting present provisions for provisions prohibiting assistance under subchapters II, III and III–A of this chapter to North Vietnam after July 1, 1973, unless specifically authorized by Act of Congress.
Functions of President under this section delegated to Secretary of Agriculture, in consultation with Food Assistance Policy Council and Department of the Treasury, by section 4(d) of Ex. Ord. No. 12752, Feb. 25, 1991, 56 F.R. 8256, set out as a note under section 1691 of this title.