§ 5230. Termination of authority
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/usc/title-12/section-5230A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Termination The authorities provided under sections 5211(a), excluding section 5211(a)(3), and 5212 of this title shall terminate on December 31, 2009.
(b)Extension upon certification The Secretary, upon submission of a written certification to Congress, may extend the authority provided under this chapter to expire not later than 2 years from October 3, 2008. Such certification shall include a justification of why the extension is necessary to assist American families and stabilize financial markets, as well as the expected cost to the taxpayers for such an extension. Notwithstanding the foregoing, the Secretary may further extend the authority provided under this chapter to expire on December 31, 2017, provided that
(1)any such extension shall apply only with respect to current program participants in the Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets, and
(2)funds obligated following such extension shall not exceed $2,000,000,000.
(Pub. L. 110–343, div. A, title I, § 120, Oct. 3, 2008, 122 Stat. 3788; Pub. L. 114–113, div. O, title VII, § 709(a), Dec. 18, 2015, 129 Stat. 3030.)
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- Public Law 114–113Making appropriations for military construction, the Department of Veterans Affairs, and related agencies for the fiscal year ending September 30, 2016, and for other purposes
- Public Law 110–343To provide authority for the Federal Government to purchase and insure certain types of troubled assets for the purposes of providing stability to and preventing disruption in the economy and financial system and protecting taxpayers, to amend the Internal Revenue Code of 1986 to provide incentives
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5 references not yet in our index
- Pub. L. 110–343, div. A, title I, § 120
- 122 Stat. 3788
- 129 Stat. 3030
- Pub. L. 110–343
- 122 Stat. 3765
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§ 5230
Termination of authority
U.S.C.×9
Stat. Comp.×3
Stat.×3
Pub. L.×2
Pub. L.Pub. L. 110–343, div. A, title I, § 120
Stat.122 Stat. 3788
Stat.129 Stat. 3030
Pub. L.Pub. L. 110–343
Stat.122 Stat. 3765
Cites 7Cited by 17 across 4 sources