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15 U.S.C. § 9061 - U.S. Code - Unannotated Title 15. Commerce and Trade § 9061. Direct appropriation

Current as of January 01, 2024 | Updated by Findlaw Staff

(a)In general

Notwithstanding any other provision of law, there is appropriated, out of amounts in the Treasury not otherwise appropriated, to the fund established under section 5302(a)(1) of Title 31, $500,000,000,000 to carry out this part.

(b)Omitted

(c)Clarification

(1)In general

On or after January 1, 2021, any remaining funds made available under section 9042(b) of this title may be used only for--

(A) modifications, restructurings, or other amendments of loans, loan guarantees, or other investments in accordance with section 9063(b)(1) of this title; and

(B) exercising any options, warrants, or other investments made prior to January 1, 2021; and

(C) paying costs and administrative expenses as provided in section 9042(f) of this title.

(2)Deficit reduction

On January 1, 2026, any funds described in paragraph (1) that are remaining shall be transferred to the general fund of the Treasury to be used for deficit reduction.

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Cite this article: FindLaw.com - 15 U.S.C. § 9061 - U.S. Code - Unannotated Title 15. Commerce and Trade § 9061. Direct appropriation - last updated January 01, 2024 | https://codes.findlaw.com/us/title-15-commerce-and-trade/15-usc-sect-9061/

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