Beginning in fiscal year 1989, the Secretary of the Treasury shall reimburse the Financial Assistance Corporation for any amounts such Corporation pays in interest charges under section
2278b–6(c) of this title during fiscal year 1988, and thereafter the Secretary shall pay the Financial Assistance Corporation any amounts due from the Secretary to such Corporation under section
2278b–6(c) of this title.
(b) Authorization of appropriations
There is authorized to be appropriated to the Secretary of the Treasury such sums on an annual basis as may be necessary to carry out this part.
1992—Subsecs. (b), (c). Pub. L. 102–552redesignated subsec. (c) as (b) and struck out former subsec. (b) which read as follows:
“(b) Repayment of Interest Paid by Secretary of the Treasury.—
“(1) In general.—Any amounts paid into the Assistance Fund by the Secretary of the Treasury pursuant to subsection (a) of this section exceeding $2,000,000,000 shall be repaid by System institutions in accordance with a schedule to be established by the Farm Credit Administration Board.
“(2) Allocation.—Until such repayment is completed, each System institution shall pay a proportionate share of the amount due under paragraph (1) equal to—
“(A) the amount of the performing loan volume of the institution, determined in accordance with section
2278b–6(c)(2)(D) of this title (based on the average loan volume for the preceding year); divided by
“(B) the total performing loan volume of the System for the preceding year.”
1988—Subsec. (b)(2). Pub. L. 100–399in introductory provision substituted “paragraph (1) equal” for “this paragraph” and in subpar. (A) substituted “section
2278b–6(c)(2)(D) of this title” for “subsection (c)(1)(D) of this section”.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
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Description of Change
Statutes at Large
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