(f)
In-kind exchange of properties with foreign government; transfer of funds; reciprocal agreement; regulations
(1)
Upon a determination in each specific case by the Secretary of State or the Secretary’s designee that the purpose of the Foreign Service Buildings Act, 1926 [
22 U.S.C. 292 et seq.], can best be met on the basis of an in-kind exchange of properties with a foreign country pursuant to subsection (b)(5), the Secretary of State may transfer funds made available under the heading “Acquisition and Maintenance of Buildings Abroad” (including funds held in the Foreign Service Buildings Fund) for such purpose to the Working Capital Fund, as provided in
section 4308(h)(1) of this title. Except for funds that may be provided by a foreign government for the purchase of property, only funds transferred under the preceding sentence may be used for the purposes of subsection (b)(5).
(2)
The Secretary of State may acquire property in the United States for the purposes of subsection (b)(5) only in the context of a specific reciprocal agreement with a specified foreign government. Property acquired by the United States in the foreign country through such an exchange shall benefit the United States at least to the same extent as the property acquired in the United States benefits the foreign government.
(3)
The Secretary of State shall prescribe regulations for the implementation of any in-kind exchange of properties pursuant to subsection (b)(5).
(4)
At least 15 days before entering into any reciprocal agreement for the exchange of property with another foreign government, the Secretary of State shall notify the Committee on Foreign Affairs and the Committee on Public Works and Transportation of the House of Representatives and the Committee on Foreign Relations of the Senate.
(5)
(A)
Proceeds from the disposition of properties acquired pursuant to this subsection shall be credited to the Foreign Service Buildings Fund (referred to in section 9 of the Foreign Service Buildings Act, 1926 [
22 U.S.C. 300]).
(B)
The authority to spend proceeds received under subparagraph (A) may be exercised only to such extent or in such amounts as are provided in advance in an appropriation Act.
([Aug. 1, 1956, ch. 841], title II, § 204, as added [Pub. L. 97–241, title II, § 202(b)], Aug. 24, 1982, [96 Stat. 284]; amended [Pub. L. 99–93, title I], §§ 126(b), 127(c), Aug. 16, 1985, [99 Stat. 418]; [Pub. L. 101–246, title I, § 116(b)], Feb. 16, 1990, [104 Stat. 24]; [Pub. L. 103–236, title I, § 162](o)(3), Apr. 30, 1994, [108 Stat. 410]; [Pub. L. 103–415, § 1(cc)], Oct. 25, 1994, [108 Stat. 4302]; [Pub. L. 109–177, title VI, § 605(d)(2)], (e)(2)(B), Mar. 9, 2006, [120 Stat. 255].)