§ 53717. Management of funds in the Treasury

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(a)Definition.— In this section, the term “FCRA” means the Federal Credit Reform Act of 1990 (2 U.S.C. 661 et seq.).

(b)Loan Guarantees by Administrator.—

(1)When not subject to fcra.— The Administrator shall account for payments and disbursements involving obligations guaranteed under this chapter and not subject to FCRA in an account in the Treasury entitled the Federal Ship Financing Fund Liquidating Account (a liquidating account as defined in FCRA).

(2)When subject to fcra.— The Administrator shall account for payments and disbursements involving obligations guaranteed under this chapter and subject to FCRA in a separate account in the Treasury entitled the Federal Ship Financing Guaranteed Loan Financing Account (a financing account as defined in FCRA).

(c)Loan Guarantees by Secretary.—

(1)When not subject to fcra.— The Secretary shall account for payments and disbursements involving obligations guaranteed under this chapter and not subject to FCRA in a separate account in the Treasury established for this purpose.

(2)When subject to fcra.— The Secretary shall account for payments and disbursements involving obligations guaranteed under this chapter and subject to FCRA in a separate account in the Treasury established for this purpose.

(d)Direct Loans by Secretary.— The Secretary shall account for payments and disbursements involving direct loans made under this chapter in a separate account in the Treasury established for this purpose.

(Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1616; Pub. L. 109–163, div. C, title XXXV, § 3507(a)(1)(B), (D), (c)(2), Jan. 6, 2006, 119 Stat. 3555, 3556; Pub. L. 110–181, div. C, title XXXV, § 3522(a)(7), (9)(B), (b), Jan. 28, 2008, 122 Stat. 598.)

The Federal Ship Financing Fund which had been created by 46 App. U.S.C. 1272 is obsolete as a result of the Federal Credit Reform Act of 1990 (2 U.S.C. 661 et seq.). This section codifies the current requirements and practices for the management of funds under this chapter, based on the requirements of that Act.

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Pub. L. 109–304, § 8(c)
120 Stat. 1616
Pub. L. 109–163, div. C, title XXXV, § 3507(a)(1)(B)
119 Stat. 3555
Pub. L. 110–181, div. C, title XXXV, § 3522(a)(7)
122 Stat. 598
Pub. L. 93–344
Pub. L. 101–508, title XIII, § 13201(a)
104 Stat. 1388–609
Pub. L. 110–181, § 3522(b)
Pub. L. 109–163, § 3507(a)(1)(B)
Pub. L. 110–181, § 3522(a)(9)(B)
section 18(a) of Pub. L. 109–304
Pub. L. 110–181, § 3522(a)(7)

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§ 53717

Management of funds in the Treasury

U.S.C.×7

U.S.C.§ 661

U.S.C.§ 621

U.S.C.§ 101

Pub. L.Pub. L. 109–304, § 8(c)

Stat.120 Stat. 1616

Pub. L.Pub. L. 109–163, div. C, title XXXV, § 3507(a)(1)(B)

Stat.119 Stat. 3555

Pub. L.Pub. L. 110–181, div. C, title XXXV, § 3522(a)(7)

Cites 17 · showing 8Cited by 7 across 1 source