Previous
Sec. 8140. There is appropriated to the “Department of Defense Credit Program Account” established pursuant to section 903(b)(5) of the National Defense Authorization Act for Fiscal Year 2024 (Public Law 118-31), $49,200,000, to remain available until September 30, 2026, for the cost of loans and loan guarantees pursuant to section 903(b) of such Act for a pilot program on capital assistance to support defense investment in the industrial base: * Provided,* That such costs, including the cost of modifying such loans, shall be as defined in section 502 of the Congressional Budget Act of 1974: * Provided further,* That such amounts are available to subsidize gross obligations for the principal amount of direct loans, and total loan principal, any part of which is to be guaranteed, not to exceed $984,000,000: * Provided further,*That the Secretary of Defense (“Secretary”) and the Director of the Office of Management and Budget (“Director”) shall jointly develop criteria for project eligibility for direct loans and loan guarantees authorized by section 903(b) of the National Defense Authorization Act for Fiscal Year 2024 (Public Law 118-31) that limit Federal participation in a project consistent with the requirements for the budgetary treatment provided for in section 504 of the Federal Credit Reform Act of 1990 and based on the recommendations contained in the 1967 Report of the President’s Commission on Budget Concepts: * Provided further,*That the Secretary and the Director shall, not later than 120 days after the date of enactment of this Act, report such criteria to the Subcommittees on Defense of the Committees on Appropriations of the House of Representatives and the Senate and certify in that report that the criteria are compliant with this section: * Provided further*, That in the event that a report is not completed and certified within 120 days, the Secretary and the Director shall provide a joint explanatory briefing on program establishment progress and estimated completion time: * Provided further,* That, in developing the criteria to be used, the Secretary and the Director shall consult with the Director of the Congressional Budget Office: * Provided further,* That the requirements of section 553 of title 5, United States Code, shall not apply to the development of such criteria: * Provided further,* That the use of direct loans or loan guarantee authority under this section for direct loans or commitments to guarantee loans for any project using funds provided by this section shall be in accordance with such criteria: * Provided further,* That the Secretary may not issue a Notice of Funding Availability for applications for credit assistance under the program authorized by section 903(b) of the National Defense Authorization Act for Fiscal Year 2024 (Public Law 118-31) using funds provided by this section until the criteria have been developed pursuant to the third proviso and certified pursuant to the fourth proviso: * Provided further,*That none of the direct loans or loan guarantee authority made available under this section shall be available for any project unless the Secretary and the Director, or their respective designees, have each individually certified in advance in writing to the Subcommittees on Defense of the Committees on Appropriations of the House of Representatives and the Senate that the direct loan or loan guarantee, as applicable, and the project comply with the criteria developed pursuant to this section: * Provided further,* That the report required by the fourth proviso shall include information on any statutory improvements to section 149 of title 10, United States Code, as added by section 903 of the National Defense Authorization Act for Fiscal Year 2024 (Public Law 118-31), and section 903(b) of such Act, that would further align such sections with the budgetary treatment and recommendations referred to in the third proviso, including statutory improvements necessary to ensure that no further reference to the criteria or the certifications will be required in appropriations Acts in future fiscal years: * Provided further,* That such statutory improvements shall also be shared with the Committees on the Budget and Armed Services of the House of Representatives and the Senate: * Provided further,*That, for the purposes of carrying out the Congressional Budget Act of 1974, the Director of the Congressional Budget Office may request, and the Secretary shall promptly provide, documentation and information relating to a project identified by the Department of Defense pursuant to a Notice of Funding Availability for applications for credit assistance under section 903(b) of the National Defense Authorization Act for Fiscal Year 2024 (Public Law 118-31).