15 U.S. Code § 713a–11 - Annual appropriations to reimburse Commodity Credit Corporation for net realized loss

There is authorized to be appropriated annually for each fiscal year by means of a current, indefinite appropriation, out of any money in the Treasury not otherwise appropriated, an amount sufficient to reimburse Commodity Credit Corporation for its net realized loss incurred during such fiscal year, as reflected in its accounts and shown in its report of its financial condition as of the close of such fiscal year. Reimbursement of net realized loss shall be with appropriated funds, as provided herein, rather than through the cancellation of notes.

Source

(Pub. L. 87–155, § 2,Aug. 17, 1961, 75 Stat. 391; Pub. L. 100–203, title I, § 1506(a),Dec. 22, 1987, 101 Stat. 1330–28.)
Amendments

1987—Pub. L. 100–203substituted “by means of a current, indefinite appropriation” for “, commencing with the fiscal year ending June 30, 1961”.
Effective Date of 1987 Amendment

Pub. L. 100–203, title I, § 1506(c),Dec. 22, 1987, 101 Stat. 1330–29, provided that: “This section and the amendment made by this section [amending this section and enacting provisions set out as a note below] shall apply beginning with fiscal year 1988.”
Operating Expenses

Pub. L. 100–203, title I, § 1506(b),Dec. 22, 1987, 101 Stat. 1330–29, provided that: “No funds may be appropriated for operating expenses of the Commodity Credit Corporation except as authorized under section 2 ofPublic Law 87–155 [15 U.S.C. 713a–11] to reimburse the Corporation for net realized losses.”

 

LII has no control over and does not endorse any external Internet site that contains links to or references LII.