Sec. 5001. COVID–19 funding for the United States Postal Service
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/bill/116/s/4775/pcs/section-5001·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 6001 of the CARES Act ( Public Law 116–136 ; 134 Stat. 281) is amended— in the section heading, by striking and inserting borrowing authority ; funding by redesignating subsection
(c)as subsection (e); and by inserting after subsection
(b)the following: Notwithstanding subsection
(b)or any agreement entered into between the Secretary of the Treasury and the Postal Service under that subsection, the Postal Service— may only use amounts borrowed under that subsection if the Postal Service has less than $8,000,000,000 in cash on hand; and shall not be required to repay the amounts borrowed under that subsection. The Postal Service shall certify in its quarterly and audited annual reports to the Postal Regulatory Commission under section 3654 of title 39, United States Code, and in conformity with the requirements of section 13 or 15(d) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78m , 78o(d)), any expenditures made using amounts borrowed under subsection
(b)of this section. Not later than 15 days after filing a report described in paragraph
(1)with the Postal Regulatory Commission, the Postal Service shall submit a copy of the information required to be certified under that paragraph to the Committee on Homeland Security and Governmental Affairs of the Senate and the Committee on Oversight and Reform of the House of Representatives. .
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- 134 Stat. 281
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Sec. 5001
COVID–19 funding for the United States Postal Service
Stat.134 Stat. 281
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