§ 2344. Financial assistance
1,041 words·~5 min read·
/usc/title-19/section-2344A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Direct loans and guarantees of loans The Secretary may provide to a firm, on such terms and conditions as he determines to be appropriate, such financial assistance in the form of direct loans or guarantees of loans as in his judgment will materially contribute to the economic adjustment of the firm. The assumption of an outstanding indebtedness of the firm, with or without recourse, shall be considered to be the making of a loan for purposes of this section.
(b)Allowable purposes Loans or guarantees of loans shall be made under this part only for the purpose of making funds available to the firm—
(1)for acquisition, construction, installation, modernization, development, conversion, or expansion of land, plant, buildings, equipment, facilities, or machinery, or
(2)to supply such working capital as may be necessary to enable the firm to implement its adjustment proposal.
(c)Limitation on direct loans No direct loan may be provided to a firm under this part if the firm can obtain loan funds from private sources (with or without a guarantee) at a rate no higher than the maximum interest per annum that a participating financial institution may establish on guaranteed loans made pursuant to section 636(a) of title 15.
(d)Limitations on loans and guarantees Notwithstanding any other provision of this part, no direct loans or guarantees of loans may be made under this part after April 7, 1986.
(Pub. L. 93–618, title II, § 254, Jan. 3, 1975, 88 Stat. 2031; Pub. L. 97–35, title XXV, § 2522, Aug. 13, 1981, 95 Stat. 891; Pub. L. 99–272, title XIII, § 13006(b), Apr. 7, 1986, 100 Stat. 304.)
Termination of Assistance
For termination of assistance under this part after June 30, 2022, see Termination Date note below.
Connections22 cite this · traces to 8
Cited by 22 sections · top 16
statutes-at-large
- Public Law 93–617to authorize the striking of medals in commemoration of the one hundredth anniversary of the cable car in San Francisco” (Public Law 93–114), [87 Stat. 417](/us/stat/87/417).approved October 1, 1973, is amended by striking out “December 31, 1974” and inserting in lieu thereof “December 31, 1976”
- Public Law 99–180Making appropriations for the Departments of Commerce, Justice, and State, the Judiciary, and related agencies for the fiscal year ending September 30, 1986, and for other purposes
- Public Law 97–376To provide for the use and disposition of Miami Indians judgment funds in dockets 124–B and 254 before the United States Court of Claims, and for other purposes
- Public Law 99–272To provide for reconciliation pursuant to section 2 of the first concurrent resolution on the budget for fiscal year 1986 (S
- Public Law 111–5Making supplemental appropriations for job preservation and creation, infrastructure investment, energy efficiency and science, assistance to the unemployed, and State and local fiscal stabilization, for the fiscal year ending September 30, 2009, and for other purposes
- Public Law 97–35To provide for reconciliation pursuant to section 301 of the first concurrent resolution on the budget for the fiscal year 1982
- Public Law 98–411Making appropriations for the Departments of Commerce, Justice, and State, the Judiciary, and related agencies for the fiscal year ending September 30, 1985, and for other purposes
- Public Law 98–166Making appropriations for the Departments of Commerce, Justice, and State, the Judiciary, and related agencies for the fiscal year ending September 30, 1984, and for other purposes
U.S. Code
statute-compilations
Traces to 8 documents
U.S. Code
public-private-law
17 references not yet in our index
- Pub. L. 93–618, title II, § 254
- 88 Stat. 2031
- Pub. L. 97–35, title XXV, § 2522
- 95 Stat. 891
- Pub. L. 99–272, title XIII, § 13006(b)
- 100 Stat. 304
- Pub. L. 111–5, div. B, title I, § 1864(a)(3)
- 123 Stat. 397
- Pub. L. 112–40, title II, § 201(b)
- 125 Stat. 403
- 129 Stat. 374
- Pub. L. 99–272
- Pub. L. 97–35
- section 2529 of Pub. L. 97–35
- section 285 of Pub. L. 93–618
- Pub. L. 111–5, div. B, title I, § 1864(b)
- 123 Stat. 398
Citation graph
cites case law
§ 2344
Financial assistance
Stat.×11
U.S.C.×10
Stat. Comp.×1
Pub. L.Pub. L. 93–618, title II, § 254
Stat.88 Stat. 2031
Pub. L.Pub. L. 97–35, title XXV, § 2522
Stat.95 Stat. 891
Cites 25 · showing 12Cited by 22 across 3 sources