(a)There is created within the Treasury a separate fund for guarantees which shall be available to the Administrator without fiscal year limitation as a revolving fund for the purposes of this part. All amounts received by the Administrator, including any moneys, property, or assets derived by him from his operations in connection with this part, shall be deposited in the fund. All expenses and payments, excluding administrative expenses, pursuant to operations of the Administrator under this part shall be paid from the fund.
(b)Such sums as may be appropriated to the Fund to carry out the programs authorized by this part shall be without fiscal year limitation.
1988—Pub. L. 100–590designated existing provisions as subsec. (a) and added subsec. (b).
1980—Pub. L. 96–302repealed investment of idle funds provision, which is covered in section
694–2 of this title.
1977—Pub. L. 95–89prohibited payment of administrative expenses from the fund and deleted provisions which authorized: a $110,000,000 appropriation of capital for the fund; and payment during the fiscal year into the Treasury as miscellaneous receipts, from the fund, of interest on the cumulative amount of appropriations available as capital to the fund less the average undisbursed cash balance in the fund during the year.
Amendment by Pub. L. 100–590effective on expiration of 180 days after Nov. 3, 1988, see section 209 ofPub. L. 100–590, set out as an Effective and Termination Dates of 1988 Amendment note under section
694b of this title.
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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Statutes at Large
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