Sec. 4029. TERMINATION OF AUTHORITY
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## SEC. 4029 TERMINATION OF AUTHORITY **[**[15 U.S.C. 9063](/us/usc/t15/s9063)**]** ###
(a)In General Except as provided in subsection (b), on December 31, 2020, the authority provided under this subtitle to make loans, loan guarantees, or other investments shall terminate. ###
(b)Outstanding ####
(1)In general Except as provided in paragraph (2), any loanor loan guarantee made under paragraph (1), (2), or
(3)of section 4003(b) outstanding on the date described in subsection (a)— #####
(A)may be modified, restructured, or otherwise amended; and #####
(B)may not be forgiven. ####
(2)Duration 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. ###
(c)Federal Reserve Programs or Facilities ####
(1)In general After December 31, 2020, the Board of Governors of the Federal Reserve System and the Federal Reserve banks shall not make any loan, purchase any obligation, asset, security, or other interest, or make any extension of credit through any program or facility established under section 13(3) of the Federal Reserve Act (12 U.S.C. 343(3)) in which the Secretary made a loan, loan guarantee, or other investment pursuant to section 4003(b)(4), other than a loan submitted, on or before December 14, 2020, to the Main Street Lending Program’s lender portal for the sale of a participation interest in such loan, provided that the Main Street Lending Program purchases a participation interest in such loan on or before January 8, 2021 and under the terms and conditions of the Main Street Lending Program as in effect on the date the loan was submitted to the Main Street Lending Program’s lender portal for the sale of a participation interest in such loan. ####
(2)No modification After December 31, 2020, the Board of Governors of the Federal Reserve System and the Federal Reserve banks— #####
(A)shall not modify the terms and conditions of any program or facility established under section 13(3) of the Federal Reserve Act (12 U.S.C. 343(3)) in which the Secretary made a loan, loan guarantee, or other investment pursuant to section 4003(b)(4), including by authorizing transfer of such funds to a new program or facility established under section 13(3) of the Federal Reserve Act (12 U.S.C. 343(3)); and #####
(B)may modify or restructure a loan, obligation, asset, security, other interest, or extension of credit made or purchased through any such program or facility provided that— ######
(i)the loan, obligation, asset, security, other interest, or extension of credit is an eligible asset or for an eligible business, including an eligible nonprofit organization, each as defined by such program or facility; and ######
(ii)the modification or restructuring relates to an eligible asset or single and specific eligible business, including an eligible nonprofit organization, each as defined by such program or facility; and ######
(iii)the modification or restructuring is necessary to minimize costs to taxpayers that could arise from a default on the loan, obligation, asset, security, other interest, or extension of credit. ####
(3)Use of funds #####
(A)In general Except as provided in subparagraph (B), the Secretary is permitted to use the fund established under section 5302 of title 31, United States Code, for any purpose permitted under that section. #####
(B)Exception The fund established under section 5302 of title 31, United States Code, shall not be available for any program or facility established under section 13(3) of the Federal Reserve Act (12 U.S.C. 343(3)) that is the same as any such program or facility in which the Secretary made an investment pursuant to section 4003(b)(4), except the Term Asset-Backed Securities Loan Facility. ## Subtitle B Air Carrier Worker Support
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