Sec. 4029. Termination of authority
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/bill/116/hr/748/eas/section-4029·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Except as provided in subsection (b), on December 31, 2020, the authority provided under this subtitle to make new loans, loan guarantees, or other investments shall terminate. Except as provided in paragraph (2), any loan, loan guarantee, or other investment outstanding on the date described in subsection (a)— may be modified, restructured, or otherwise amended; and may not be forgiven. The duration of any loan or loan guarantee made under section 4003(b)(1) that is modified, restructured, or otherwise amended under paragraph
(1)shall not be extended beyond 5 years from the initial origination date of the loan or loan guarantee.