2 U.S.C. § 661f — Effect on other laws
submitted 36 years ago by Pub. L. 93-344 to r/title-2-THE-CONGRESS · 177 words · no verdicts yet
This section makes the subchapter control over earlier inconsistent laws without setting credit limits. It directs how collections from older loans and guarantees are credited and transferred.
This subchapter shall supersede, modify, or repeal any provision of law enacted prior to November 5, 1990, to the extent such provision is inconsistent with this subchapter. Nothing in this subchapter shall be construed to establish a credit limitation on any Federal loan or loan guarantee* program.
Collections resulting from direct loans obligated or loan guarantees committed prior to October 1, 1991, shall be credited to the liquidating accounts of Federal agencies. Amounts so credited shall be available, to the same extent that they were available prior to November 5, 1990, to liquidate obligations arising from such direct loans obligated or loan guarantees committed prior to October 1, 1991, including repayment of any obligations held by the Secretary of the Treasury or the Federal Financing Bank. The unobligated balances of such accounts that are in excess of current* needs shall be transferred to the general fund of the Treasury. Such transfers shall be made from time to time but, at least once each year.
Source credit: (Pub. L. 93–344, title V, § 507, as added Pub. L. 101–508, title XIII, § 13201(a), Nov. 5, 1990, 104 Stat. 1388–614.)
- 1990Enacted · Pub. L. 93-344 · 104 Stat. 1388
A history note hasn’t been published yet. The record shows enactment by Pub. L. 93-344 on 1990-11-05.
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