PUBLIC LAWS-CH. 723-AUG. 1, 1946 Augst1, 1946 IS. 1636] [Public Law 5841 Surplus Property Act of 1944, amend- ments. 58 Stat. 769. 50 U S. C., Supp. V, app. 1619. Functions of Secre- tary of State. 59 Stat. 533. 50 U. S. C., Supp. V, app. §§ 1614a, 1614b. 58 Stat. 785, 765. 50 U. S. C., Supp. V, app. §§ 1651-1678, 1611-1646 . Ante, pp. 168, 169, 209, 599; post, p. 886. 58 Stat. 782. 50U.S.C., Supp. V, app. § 1641 (b). Exemption of dispo- sitions. Disposal for foreign currencies, etc. 58 Stat. 772. 50 U. S. C., Supp. V, app. §1624. Executive agree- ments. Financing studies, etc., of American citi- zens abroad. [CHAPTER 723] AN ACT To amend the Surplus Property Act of 1944 to designate the Department of State as the disposal agency for surplus property outside the continental United States, its Territories and possessions, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 10 of the Surplus Property Act of 1944, as amended, is hereby amended by adding a new subsection (c) to read as follows: "(c) Except as provided in subsection (b) of this section, the Department of State shall be the sole disposal agency for surplus property located outside the continental United States, Hawaii, Alaska (including the Aleutian Islands), Puerto Rico, and the Virgin Islands, and with respect to such property the Secretary of State shall exercise the functions heretofore conferred upon the Surplus Property Admin- istrator by Public Law 181, Seventy-ninth Congress. The Secretary of State shall, subject to the provisions of the War Mobilization and Reconversion Act of 1944, have sole responsibility for carrying out the provisions of the Surplus Property Act of 1944, with respect to surplus property located outside the continental United States, Hawaii, Alaska (including the Aleutian Islands), Puerto Rico, and the Virgin Islands." SEC. 2. Section 32 (b) of such Act, as amended, is hereby amended to read as follows: "(b) (1) The provisions of this Act shall be applicable to disposi- tion of property within the United States and elsewhere, but the Secretary of State may exempt from some or all of the provisions hereof dispositions of property located outside of the continental United States, Hawaii, Alaska (including the Aleutian Islands), Puerto Rico, and the Virgin Islands, whenever he deems that such provisions would obstruct the efficient and economic disposition of such property in accordance with the objectives of this Act. In addition to the authority conferred by section 15 of this Act, the Department of State may dispose of surplus property located outside the continental United States, Hawaii, Alaska (including the Aleutian Islands), Puerto Rico, and the Virgin Islands, for foreign currencies or credits, or substantial benefits or the discharge of claims resulting from the compromise, or settlement of such claims by any Govern- ment agency in accordance with the law, whenever the Secretary of State determines that it is in the interest of the United States to do so and upon such terms and conditions as he may deem proper. Any foreign currencies or credits acquired by the Department of State pursuant to this subsection shall be administered in accordance with procedures that may from time to time be established by the Secre- tary of the Treasury and, if and when reduced to UnitedStates cur- rency shall be covered into the Treasury as miscellaneous receipts. "(2) In carrying out the provisions of this section, the Secretary of State is hereby authorized to enter into an executive agreement or agreements with any foreign government for the use of currencies, or credits for currencies, of such government acquired as a result of such surplus property disposals, for the purpose of providing, by the formation of foundations or otherwise, for (A) financing studies, research, instruction, and other educational activities of or for American citizens in schools and institutions of higher learning located in such foreign country, or of the citizens of such foreign country in American schools and institutions of higher learning located outside the continental United States, Hawaii, Alaska (in- cluding the Aleutian Islands), Puerto Rico, and the Virgin Islands, including payment for transportation, tuition, maintenance, and other 754 [60 STAT.
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