if such funds are initially allocated or obligated before the expiration of their respective periods of availability contained in this Act. (b) Notwithstanding any other provision of this Act, any funds appropriated or otherwise made available by this Act that are proposed for rescission pursuant to section 1012 of the Congressional Budget and Impoundment Control Act of 1974 ( 2 U.S.C. 683 ) within 60 days of the expiration of the period of availability of such funds and Congress has not completed action on a rescission bill pursuant to subsection (b) of such section shall remain available for an additional 90 days from the date on which the availability of such funds would otherwise have expired. limitation on assistance to countries in default 7012. No part of any appropriation provided under titles III through VI in this Act shall be used to furnish assistance to the government of any country which is in default during a period in excess of 1 calendar year in payment to the United States of principal or interest on any loan made to the government of such country by the United States pursuant to a program for which funds are appropriated under this Act unless the President determines, following consultation with the Committees on Appropriations, that assistance for such country is in the national interest of the United States. Prohibition on taxation of United States assistance 7013. (a) prohibition on taxation None of the funds appropriated under titles III through VI of this Act may be made available to provide assistance for a foreign country under a new bilateral agreement governing the terms and conditions under which such assistance is to be provided unless such agreement includes a provision stating that assistance provided by the United States shall be exempt from taxation, or reimbursed, by the foreign government, and the Secretary of State and the Administrator of the United States Agency for International Development shall expeditiously seek to negotiate amendments to existing bilateral agreements,