WORKING CAPITAL FUND.

SEC. 404. WORKING CAPITAL FUND. Section 635 of the Foreign Assistance Act of 1961 (22 U.S.C. 2395) is amended by adding at the end the following new subsection: “(m)(1) There is established a working capital fund (in this subsection referred to as the ‘fund’) for the United States Agency for International Development (in this subsection referred to as the ‘Agency’) which shall be available without fiscal year limitation for the expenses of personal and nonpersonal services, equipment, and supplies for— “(A) International Cooperative Administrative Support Services; and “(B) rebates from the use of United States Government credit cards. “(2) The capital of the fund shall consist of— “(A) the fair and reasonable value of such supplies, equipment, and other assets pertaining to the functions of the fund as the Administrator determines, “(B) rebates from the use of United States Government credit cards, and “(C) any appropriations made available for the purpose of providing capital, minus related liabilities. “(3) The fund shall be reimbursed or credited with advance payments for services, equipment, or supplies provided from the fund from applicable appropriations and funds of the Agency, other Federal agencies and other sources authorized by section 607 at rates that will recover total expenses of operation, including accrual of annual leave and depreciation. Receipts from the disposal of, or payments for the loss or damage to, property held in the fund, rebates, reimbursements, refunds and other credits applicable to the operation of the fund may be deposited in the fund. “(4) At the close of each fiscal year the Administrator of the Agency shall transfer out of the fund to the miscellaneous receipts account of the Treasury of the United States such amounts as the Administrator determines to be in excess of the needs of the fund. “(5) The fund may be charged with the current value of supplies and equipment returned to the working capital of the fund by a post, activity, or agency, and the proceeds shall he credited to current applicable appropriations.”.