47 U.S.C. § 1441 — State and Local Implementation Fund
submitted 14 years ago by Pub. L. 112-96 to r/title-47-TELECOMMUNICATIONS · 211 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
There is established in the Treasury of the United States a fund to be known as the State* and Local Implementation Fund.
Any amounts borrowed under subsection (c)(1) and any amounts in the State and Local Implementation Fund that are not necessary to reimburse the general fund of the Treasury for such borrowed amounts shall be available to the Assistant Secretary* to implement section 1442 of this title.
Prior to the end of fiscal year 2022, the Assistant Secretary may borrow from the general fund of the Treasury such sums as may be necessary, but not to exceed $135,000,000, to implement section 1442 of this title.
The Assistant Secretary shall reimburse the general fund of the Treasury, without interest, for any amounts borrowed under paragraph (1) as funds are deposited into the State and Local Implementation Fund.
If there is a balance remaining in the State and Local Implementation Fund on September 30, 2022, the Secretary of the Treasury shall transfer such balance to the general fund of the Treasury, where such balance shall be dedicated for the sole purpose of deficit reduction.
Source credit: (Pub. L. 112–96, title VI, § 6301, Feb. 22, 2012, 126 Stat. 218.)
- 2012Enacted · Pub. L. 112-96 · 126 Stat. 218
A history note hasn’t been published yet. The record shows enactment by Pub. L. 112-96 on 2012-02-22.
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