Sec. 303. Funding
105 words·~1 min read·
/bill/114/s/1589/is/section-303·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
There is authorized to be appropriated to IFA to make direct loans and loan guarantees under this Act $10,000,000,000, which shall remain available until expended. Of the amounts appropriated pursuant to paragraph (1), the IFA may expend, for administrative costs, not more than— $25,000,000 for each of the fiscal years 2016 and 2017; and not more than $50,000,000 for fiscal year 2018. The amounts made available to IFA pursuant to subsection
(a)shall be placed in interest-bearing accounts. Of the amounts made available to IFA under this section, not less than 5 percent shall be used to offset subsidy costs associated with rural infrastructure projects.