22 USC 2183 - General provisions

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

§ 2183.

General provisions

(a)

Fees; determination by President; reduction

(b)

Accumulated and existing fees; expenditure of fees; revolving fund account; investments; use of investment income

(c)

Priorities of funds for guaranty payments

(d)

Guaranties as obligations backed by full faith and credit of United States

(e)

Authorization of appropriations; borrowing authority

(1)

There is hereby authorized to be appropriated to the President such amounts, to remain available until expended, as may be necessary from time to time to carry out the purposes of this subpart.

(2)

(A)

In order to meet obligations incurred for the payment of claims pursuant to loan guaranties described in subsection (d), the Administrator of the agency primarily responsible for administering subchapter I of this chapter may, to the extent that reserves are not sufficient, borrow from time to time from the Treasury, except that—

(i)

the Administrator may exercise the authority to borrow under this paragraph only to such extent or in such amounts as are provided in advance in appropriation Acts; and

(ii)

the amount borrowed under this paragraph which is outstanding at any one time may not exceed $100,000,000.

(B)

Any such borrowing shall bear interest at a rate determined by the Secretary of the Treasury, taking into account the current average market yield on outstanding marketable obligations of the United States of comparable maturities. The Secretary of the Treasury shall make loans under this paragraph and for such purpose may borrow on the credit of the United States in accordance with subchapter I of chapter 31 of title 31.

(f)

Agency determination of maximum rate of interest

(g)

Guaranties under prior acts

(h)

Fraud or misrepresentation

(i)

Repealed. Pub. L. 95–424, title I, § 115(i), Oct. 6, 1978, 92 Stat. 952

(j)

Guaranties for housing projects; percentage requirement for families with income below median income

(Pub. L. 87–195, pt. I, § 223, as added Pub. L. 91–175, pt. I, § 105, Dec. 30, 1969, 83 Stat. 808; amended Pub. L. 92–226, pt. I, § 103(b) Feb. 7, 1972, 86 Stat. 22; Pub. L. 93–189, § 5(2), Dec. 17, 1973, 87 Stat. 717; Pub. L. 93–559, §§ 7(2), 8(a)(3)–(5), Dec. 30, 1974, 88 Stat. 1796, 1797; Pub. L. 94–161, title III, § 311(5), Dec. 20, 1975, 89 Stat. 861; Pub. L. 94–329, title IV, § 414, June 30, 1976, 90 Stat. 761; Pub. L. 95–88, title I, § 117(a)(3), (b)(2), (c), Aug. 3, 1977, 91 Stat. 540; Pub. L. 95–424, title I, § 115(c)–(j), Oct. 6, 1978, 92 Stat. 951, 952; Pub. L. 96–53, title I, § 112(c), (d), Aug. 14, 1979, 93 Stat. 364; Pub. L. 97–113, title III, § 310(b), Dec. 29, 1981, 95 Stat. 1535; Pub. L. 98–473, title I, § 101(1) [title V, § 541(a)], Oct. 12, 1984, 98 Stat. 1884, 1903; Pub. L. 100–202, § 101(e) [title II, § 201], Dec. 22, 1987, 101 Stat. 1329–131, 1329–142; Pub. L. 105–277, div. A, § 101(d) [title II], Oct. 21, 1998, 112 Stat. 2681–150, 2681–157.)

cite as: 22 USC 2183