Section 1 Clarification of the term “aggregate value” for purposes of Presidential drawdown authority
The Foreign Assistance Act of 1961 (22 U.S.C. 2151 et seq.) is amended—
in section 506(a)(1) (22 U.S.C. 2318(a)(1)), in the undesignated matter following subparagraph (B), by inserting after “fiscal year.” the following: “For purposes of this paragraph, the term ‘aggregate value’ means—
“(A) in the case of defense articles, the greater of—
“(i) the original acquisition cost to the United States Government, plus the cost of improvements or other modifications made by or on behalf of the Government; or
“(ii) the replacement cost; and
“(B) in the case of defense services, the full cost to the Government of providing the services.”
in section 644(m)(2) (22 U.S.C. 2403(m)(2)), by inserting “except as provided in section 506(a)(1),” before “with respect to”.