
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 22USC2181]

 
               TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
 
                     CHAPTER 32--FOREIGN ASSISTANCE
 
                 SUBCHAPTER I--INTERNATIONAL DEVELOPMENT
 
                         Part II--Other Programs
 
         subpart iii--shelter and other credit guaranty programs
 
Sec. 2181. Policy

    The Congress recognizes that shelter, including essential urban 
development services, is among the most fundamental of human needs. 
Shelter for most people in the developing countries consists largely of 
domestic materials assembled by local labor. While recognizing that most 
financing for such shelter must come from domestic resources, the 
Congress finds that carefully designed programs involving United States 
capital and expertise can increase the availability of domestic 
financing for improved shelter and related services for low-income 
people by demonstrating to local entrepreneurs and institutions that 
providing low-cost shelter can be financially viable. The Congress 
reaffirms, therefore, that the United States should continue to assist 
developing countries in marshalling resources for low-cost shelter. 
Particular attention should be given to programs which will support 
pilot projects for low-cost shelter or which will have a maximum 
demonstration impact on local institutions and national policy. The 
Congress declares that the long run goal of all such programs should be 
to develop domestic construction capabilities and to stimulate local 
credit institutions to make available domestic capital and other 
management and technological resources required for effective low-cost 
shelter programs and policies.

(Pub. L. 87-195, pt. I, Sec. 221, as added Pub. L. 91-175, pt. I, 
Sec. 105, Dec. 30, 1969, 83 Stat. 807; amended Pub. L. 92-226, pt. I, 
Sec. 103(a), Feb. 7, 1972, 86 Stat. 22; Pub. L. 93-189, Sec. 5(1), Dec. 
17, 1973, 87 Stat. 717; Pub. L. 93-559, Sec. 7(1), Dec. 30, 1974, 88 
Stat. 1796; Pub. L. 94-161, title III, Sec. 311(3), Dec. 20, 1975, 89 
Stat. 861; Pub. L. 95-88, title I, Sec. 117(a)(1), Aug. 3, 1977, 91 
Stat. 540; Pub. L. 95-424, title I, Sec. 115(a), Oct. 6, 1978, 92 Stat. 
950; Pub. L. 98-473, title I, Sec. 101(1) [title V, Sec. 541(a)], Oct. 
12, 1984, 98 Stat. 1884, 1903.)

                          Codification

    Amendment by Pub. L. 98-473 is based on section 311(a) of H.R. 5119, 
Ninety-eighth Congress, as passed by the House of Representatives May 
10, 1984, which was enacted into permanent law by Pub. L. 98-473.


                            Prior Provisions

    A prior section 221 of Pub. L. 87-195, pt. I, Sept. 4, 1961, 75 
Stat. 429, as amended by Pub. L. 87-565, pt. I, Sec. 104(a), Aug. 1, 
1962, 76 Stat. 256; Pub. L. 88-205, pt. I, Sec. 104(a), Dec. 16, 1963, 
77 Stat. 381; Pub. L. 88-633, pt. I, Sec. 103(a), Oct. 7, 1964, 78 Stat. 
1009; Pub. L. 89-171, pt. I, Sec. 104(a), (b), Sept. 6, 1965, 79 Stat. 
654; Pub. L. 89-583, pt. I, Sec. 104(a), Sept. 19, 1966, 80 Stat. 798; 
Pub. L. 90-137, pt. I, Sec. 104(a), Nov. 14, 1967, 81 Stat. 450; Pub. L. 
90-554, pt. I, Sec. 103, Oct. 8, 1968, 82 Stat. 960, related to general 
authority for foreign investment guaranties by the President, prior to 
the general reorganization of this subpart by Pub. L. 91-175, pt. I, 
Sec. 105, Dec. 30, 1969, 83 Stat. 807.


                               Amendments

    1984--Pub. L. 98-473 substituted ``, including essential urban 
development services, is'' for ``requirements are'' after ``The Congress 
recognizes that shelter'' and, in the remainder of the section 
substituted ``shelter'' for ``housing'' wherever appearing.
    1978--Pub. L. 95-424 generally revised the statement of policy to 
clarify that in developing countries, financing, materials and labor for 
most housing must be obtained from local sources, while United States 
capital and technical expertise can increase the availability of housing 
and related services for low-income people by demonstrating financial 
viability of credit systems for low-cost housing.
    1977--Pub. L. 95-88 struck out provisions that the total face amount 
of guaranties issued under this section outstanding at any one time not 
exceed $430,000,000 and added section 2182(c) of this title to the 
enumeration of sections setting out the conditions under which 
guaranties shall be issued.
    1975--Pub. L. 94-161 substituted ``$430,000,000'' for 
``$355,000,000''.
    1974--Pub. L. 93-559 substituted ``$355,000,000'' for 
``$305,000,000''.
    1973--Pub. L. 93-189 substituted ``$305,000,000'' for 
``$205,000,000''.
    1972--Pub. L. 92-226 substituted ``$205,000,000'' for 
``$130,000,000''.


                    Effective Date of 1978 Amendment

    Amendment by Pub. L. 95-424 effective Oct. 1, 1978, see section 605 
of Pub. L. 95-424, set out as a note under section 2151 of this title.


   Use of Funds From Sale of Notes for Discharge of Liabilities Under 
  Guaranties; Transfer of Funds and Cancellation of Notes and Interest

    Pub. L. 90-249, title I, Sec. 120, Jan. 2, 1968, 81 Stat. 941, 
provided that: ``Hereafter, none of the funds obtained or authorized to 
be obtained from the sale of notes under authority of paragraph 
111(c)(2) of the Economic Cooperation Act of 1948 [section 1509(c)(2) of 
this title] or paragraph 413(b)(4)(F) of the Mutual Security Act of 1954 
[section 1933(b)(4)(F) of this title] may be used for the purposes of 
discharging liabilities under any guaranties (exclusive of informational 
media guaranties) issued under sections 221(b) and 224 of the Foreign 
Assistance Act of 1961 [subsec. (b) of this section and section 2184 of 
this title], sections 202(b) and 413(b)(4) of the Mutual Security Act of 
1954 [sections 1872(b) and 1933(b)(4) of this title] and section 
111(b)(3) of the Economic Cooperation Act of 1948 [section 1509(b)(3) of 
this title]. Any portion of the funds in the reserve established 
pursuant to section 222(e) of the Foreign Assistance Act of 1961 
[section 2182(e) of this title] which are attributable to the funds 
realized from the sale of notes specified in the preceding sentence 
shall be transferred to the general fund of the Treasury. The Secretary 
of the Treasury shall cancel all such notes and sums owing and unpaid 
thereon, including interest to date of cancellation.''

                  Section Referred to in Other Sections

    This section is referred to in sections 2182, 2186 of this title; 
title 12 sections 1432, 1464.
