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SUBCHAPTER I—TERMINATING EXISTING DECLARED EMERGENCIES
§1601. Termination of existing declared emergencies
(a) All powers and authorities possessed by the President, any other officer or employee of the Federal Government, or any executive agency, as defined in section 105 of title 5, as a result of the existence of any declaration of national emergency in effect on September 14, 1976, are terminated two years from September 14, 1976. Such termination shall not affect—
(1) any action taken or proceeding pending not finally concluded or determined on such date;
(2) any action or proceeding based on any act committed prior to such date; or
(3) any rights or duties that matured or penalties that were incurred prior to such date.
(b) For the purpose of this section, the words "any national emergency in effect" means a general declaration of emergency made by the...
For practical sanctions compliance purposes, the National Emergencies Act (NEA) is not particularly relevant, but the operation of statute is worth understanding as it is cited in connection with IEEPA in all sanctions related executive orders that rely on IEEPA for their authority. In short, IEEPA is structured such that the authorities of that statute may not be exercised unless in conjunction with a national emergency declared in accordance with the NEA. See e.g. Case No. LB-2014-309609-1.
Section 202(d) of the NEA (50 U.S.C. 1622(d)), provides that:
"[a]ny national emergency declared by the President in accordance with [the NEA] and not otherwise previously terminated, shall terminate on the anniversary of the declaration of that emergency if, within the ninety-day period prior to each anniversary date, the President does not publish...