Sec. 5. Authorization of appropriations for the Federal Financing Bank
125 words·~1 min read·
/bill/117/hr/9512/ih/section-5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
There is authorized to be appropriated to the Federal Financing Bank, to remain available for 10 years after the date of distribution, to carry out projects and partnerships selected by the Interagency Committee for the Coordination of National Development Financing Programs established under section 3 of this Act— for fiscal year 2023, $5,000,000,000; for fiscal year 2024, $5,000,000,000; for fiscal year 2025, $5,000,000,000; and for fiscal year 2026, $5,000,000,000; Not more than 2 percent of funds appropriated under this section shall be utilized for administrative costs, including the hiring of new staff to oversee and accomplish the functions of the Federal Financing Bank.
It is the sense of Congress that the Federal Financing Bank should use amounts appropriated under this section as soon as possible.