15 USC 8715 - Limitations on obligation of funds

U.S Code last checked for updates: Nov 22, 2024

§ 8715.

Limitations on obligation of funds

(a)

In general

In each fiscal year of the covered period, the Board may not obligate an amount greater than the sum of—

(1)

73 percent of the amount of assessments estimated to be collected under section 8705 of this title in such fiscal year;

(2)

73 percent of the amount of assessments actually collected under section 8705 of this title in the most recent fiscal year for which an audit report has been submitted under section 8704(f)(2)(B) of this title as of the beginning of the fiscal year for which the amount that may be obligated is being determined, less the estimate made pursuant to paragraph (1) for such most recent fiscal year; and

(3)

amounts permitted in preceding fiscal years to be obligated pursuant to this subsection that have not been obligated.

(b)

Excess amounts deposited in escrow account

(c)

Treatment of amounts in escrow account

(d)

Release of amounts in escrow account

(e)

Special rule for estimates for particular fiscal years

(1)

Rule

(2)

Fiscal years specified

(f)

Covered period defined

(Pub. L. 115–254, div. E, § 1316,

cite as: 15 USC 8715