§ 606. Federal loans for State welfare programs
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/usc/title-42/section-606A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Loan authority
(1)In general The Secretary shall make loans to any loan-eligible State, for a period to maturity of not more than 3 years.
(2)Loan-eligible State As used in paragraph (1), the term “loan-eligible State” means a State against which a penalty has not been imposed under section 609(a)(1) of this title.
(b)Rate of interest The Secretary shall charge and collect interest on any loan made under this section at a rate equal to the current average market yield on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the period to maturity of the loan.
(c)Use of loan A State shall use a loan made to the State under this section only for any purpose for which grant amounts received by the State under section 603(a) of this title may be used, including—
(1)welfare anti-fraud activities; and
(2)the provision of assistance under the State program to Indian families that have moved from the service area of an Indian tribe with a tribal family assistance plan approved under section 612 of this title.
(d)Limitation on total amount of loans to State The cumulative dollar amount of all loans made to a State under this section during fiscal years 1997 through 2003 shall not exceed 10 percent of the State family assistance grant.
(e)Limitation on total amount of outstanding loans The total dollar amount of loans outstanding under this section may not exceed $1,700,000,000.
(f)Appropriation Out of any money in the Treasury of the United States not otherwise appropriated, there are appropriated such sums as may be necessary for the cost of loans under this section.
(Aug. 14, 1935, ch. 531, title IV, § 406, as added Pub. L. 104–193, title I, § 103(a)(1), Aug. 22, 1996, 110 Stat. 2128; amended Pub. L. 105–33, title V, § 5514(c), Aug. 5, 1997, 111 Stat. 620; Pub. L. 108–40, § 3(f), June 30, 2003, 117 Stat. 837.)
Connections105 cite this · traces to 5
Cited by 105 sections · top 45
U.S. Code
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- Public Law 95–171To extend certain Social Security Act provisions, and for other purposes
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43 references not yet in our index
- Aug. 14, 1935, ch. 531
- Pub. L. 104–193, title I, § 103(a)(1)
- 110 Stat. 2128
- Pub. L. 105–33, title V, § 5514(c)
- 111 Stat. 620
- Pub. L. 108–40, § 3(f)
- 117 Stat. 837
- 49 Stat. 629
- Aug. 10, 1939, ch. 666
- 53 Stat. 1380
- Aug. 28, 1950, ch. 809
- 64 Stat. 551
- Aug. 1, 1956, ch. 836
- 70 Stat. 850
- Pub. L. 87–543, title I
- 76 Stat. 185
- Pub. L. 88–641, § 2(a)
- 78 Stat. 1042
- Pub. L. 89–97, title IV, § 409
- 79 Stat. 422
- Pub. L. 90–248, title II
- 81 Stat. 880
- Pub. L. 93–647
- 88 Stat. 2348
- Pub. L. 95–171, § 3(a)(2)
- 91 Stat. 1354
- Pub. L. 96–611, § 4
- 94 Stat. 3567
- Pub. L. 97–35, title XXI, § 2184(b)(2)
- 95 Stat. 817
- Pub. L. 97–248, title I, § 153(a)
- 96 Stat. 396
- Pub. L. 98–369, div. B, title III, § 2361(c)
- 98 Stat. 1104
- Pub. L. 98–378, § 20(a)
- 98 Stat. 1322
- Pub. L. 104–193, § 103(a)(1)
- Pub. L. 108–40
- Pub. L. 105–33
- section 8 of Pub. L. 108–40
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§ 606
Federal loans for State welfare programs
Stat.×62
U.S.C.×26
Bills×9
Fed. Reg.×6
Stat. Comp.×2
ActAug. 14, 1935, ch. 531
Pub. L.Pub. L. 104–193, title I, § 103(a)(1)
Stat.110 Stat. 2128
Pub. L.Pub. L. 105–33, title V, § 5514(c)
Stat.111 Stat. 620
Cites 48 · showing 10Cited by 105 across 5 sources