§ 4195. Limitations on amount of guarantees

344 words·~2 min read·/usc/title-25/section-4195

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(a)Aggregate fiscal year limitation Notwithstanding any other provision of law and subject only to the absence of qualified applicants or proposed activities and to the authority provided in this subchapter, to the extent approved or provided in appropriations Acts, the Secretary may enter into commitments to guarantee notes and obligations under this subchapter with an aggregate principal amount not to exceed $400,000,000 for each of fiscal years 2009 through 2013.

(b)Authorization of appropriations for credit subsidy There are authorized to be appropriated to cover the costs (as such term is defined in section 661a of title 2) of guarantees under this subchapter such sums as may be necessary for each of fiscal years 2009 through 2013.

(c)Aggregate outstanding limitation The total amount of outstanding obligations guaranteed on a cumulative basis by the Secretary pursuant to this subchapter shall not at any time exceed $2,000,000,000 or such higher amount as may be authorized to be appropriated for this subchapter for any fiscal year.

(d)Fiscal year limitations on tribes The Secretary shall monitor the use of guarantees under this subchapter by Indian tribes. If the Secretary finds that 50 percent of the aggregate guarantee authority under subsection

(c)has been committed, the Secretary may—

(1)impose limitations on the amount of guarantees any one Indian tribe may receive in any fiscal year of $50,000,000; or

(2)request the enactment of legislation increasing the aggregate outstanding limitation on guarantees under this subchapter.

(Pub. L. 104–330, title VI, § 605, Oct. 26, 1996, 110 Stat. 4047; Pub. L. 107–292, § 2(b), Nov. 13, 2002, 116 Stat. 2053; Pub. L. 110–411, title VII, § 701(b), Oct. 14, 2008, 122 Stat. 4334.)

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Pub. L. 104–330, title VI, § 605
110 Stat. 4047
Pub. L. 107–292, § 2(b)
116 Stat. 2053
Pub. L. 110–411, title VII, § 701(b)
122 Stat. 4334
Pub. L. 110–411
Pub. L. 107–292
section 606 of Pub. L. 104–330

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§ 4195

Limitations on amount of guarantees

Stat.×3

U.S.C.§ 661a

U.S.C.§ 4191

Pub. L.Pub. L. 104–330, title VI, § 605

Stat.110 Stat. 4047

Pub. L.Pub. L. 107–292, § 2(b)

Stat.116 Stat. 2053

Pub. L.Pub. L. 110–411, title VII, § 701(b)

Cites 11 · showing 7Cited by 3 across 1 source