Sec. 102.
732 words·~3 min read·
/bill/116/s/4320/is/section-102A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Secretary of Homeland Security is authorized to issue to the Secretary of the Treasury from time to time and have outstanding at any one time, in an amount not exceeding $1,222,000,000, notes or other obligations in such forms and denominations, bearing such maturities, and subject to such terms and conditions as may be prescribed by the Secretary of Homeland Security with the approval of the Secretary of the Treasury. Such notes or other obligations shall bear interest at a rate determined by the Secretary of the Treasury, taking into consideration the current average market yield on outstanding marketable obligations of the United States of comparable maturities during the month preceding the issuance of such notes or other obligations.
The Secretary of the Treasury is authorized and directed to purchase any notes and other obligations to be issued under this subsection and for such purpose he is authorized to use as a public debt transaction the proceeds from the sale of any securities issued under chapter 31 of title 31, and the purposes for which securities may be issued under such chapter are extended to include any purchases of such notes and obligations. The Secretary of the Treasury may at any time sell any of the notes or other obligations acquired by him under this section.
All redemptions, purchases, and sales by the Secretary of the Treasury of such notes or other obligations shall be treated as public debt transactions of the United States. Any funds borrowed by the Secretary of Homeland Security under the authority provided by subsection
(a)shall, from time to time, be deposited in the Immigration Examinations Fee Account established pursuant to section 286(m) of the Immigration and Nationality Act ( 8 U.S.C. 1356(m) ), and shall remain available only to U.S. Citizenship and Immigration Services for purposes described in section 286(n) of such Act ( 8 U.S.C. 1356(n) ). Upon the exercise of the authority established under subsection (a), the Secretary of Homeland Security shall transmit a schedule for repayment of such amounts to— the Secretary of the Treasury; the Committees on the Judiciary of the Senate and the House of Representatives; the Committee on Homeland Security of the House of Representatives; and the Committee on Homeland Security and Governmental Affairs of the Senate. In connection with any funds borrowed by the Secretary of Homeland Security under the authority established in subsection (a), the Secretary, beginning 6 months after the date on which such funds are borrowed, and continuing every 6 months thereafter until such borrowed funds are fully repaid, shall submit a report on the progress of such repayment to the Secretary of the Treasury and to the Committees described in subsection (c). Subject to paragraphs
(2)and (4), any applicant paying a fee authorized by the Secretary of Homeland Security under section 286(m) of the Immigration and Nationality Act ( 8 U.S.C. 1356(m) ) shall pay a surcharge in addition to each such fee. The surcharge shall be 10 percent of such fee rounded up to the nearest dollar. Notwithstanding any other provision of law, including the Administrative Procedure Act ( 5 U.S.C. 551 et seq.) and the Paperwork Reduction Act ( 44 U.S.C. 3501 et seq.), beginning 60 days after any exercise of the authority provided in subsection (a), the Secretary of Homeland Security shall begin collecting the surcharge prescribed by this section and shall reject any benefit request submitted without payment for such surcharge, if applicable. Notwithstanding any other provision of law, including the provisions of section 286(m) of the Immigration and Nationality Act ( 8 U.S.C. 1356(m) ) regarding payment of certain fees to the treasury of Guam or the Virgin Islands and section 286(n) of such Act ( 8 U.S.C. 1356(n) ), the Secretary shall use all surcharges collected under this subsection to repay funds borrowed under subsection (a). Other than surcharges collected under this subsection, no funds available to the Department of Homeland Security under section 286(m) and
(n)of the Immigration and Nationality Act ( 8 U.S.C. 1356(m) and (n)) or under any other law may be used to repay funds borrowed under subsection (a). The Secretary of Homeland Security shall cease to collect any surcharge under this subsection when all repayment obligations under subsections
(a)and
(c)have been satisfied. The authority granted to the Secretary of Homeland Security under subsection
(a)shall expire on September 30, 2021.
Connectionstraces to 3
Traces to 3 documents
Citation graph
cites case law
Cites 3Cited by 0 across 0 sources