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19 U.S.C. § 2344 — Approval of adjustment proposals

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19 U.S.C. § 2344 — Approval of adjustment proposals

**(a) Application for adjustment assistance** A firm certified under [section 2341 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section2341&num=0&edition=prelim) as eligible to apply for adjustment assistance may, at any time within 2 years after the date of such certification, file an application with the Secretary for adjustment assistance under this part. Such application shall include a proposal for the economic adjustment of such firm. **(b) Technical assistance** (1) Adjustment assistance under this part consists of technical assistance. The Secretary shall approve a firm’s application for adjustment assistance only if the Secretary determines that the firm’s adjustment proposal— (A) is reasonably calculated to materially contribute to the economic adjustment of the firm, (B) gives adequate consideration to the interests of the workers of such firm, and (C) demonstrates that the firm will make all reasonable efforts to use its own resources for economic development. (2) The Secretary shall make a determination as soon as possible after the date on which an application is filed under this section, but in no event later than 60 days after such date. **(c) Termination of certification of eligibility** Whenever the Secretary determines that any firm no longer requires assistance under this part, he shall terminate the certification of eligibility of such firm and promptly have notice of such termination published in the Federal Register. Such termination shall take effect on the termination date specified by the Secretary.

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Source location: Title 19, Chapter 12, § 2344; chapter-012-trade-act-of-1974.md

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19 U.S.C. § 2341 — Omitted

### Statutory Notes #### Codification Section, Pub. L. 93–618, title II, § 249B, as added Pub. L. 111–5, div. B, title I, § 1854(a), Feb. 17, 2009, 123 Stat. 392; as added and amended Pub. L. 112–40, title II, §§ 201(b), (c), 216(b)(1), (3), Oct. 21, 2011, 125 Stat. 403, 407, 409; as added and amended Pub. L. 114–27, title IV, §§ 402(b), (c), 404(b), June 29, 2015, 129 Stat. 374, 376, was omitted in view of the reversion of this part, effective July 1, 2021, to provisions in effect on Jan. 1, 2014, by section 406 of Pub. L. 114–27, set out as a note preceding [section 2271 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section2271&num=0&edition=prelim). Prior to omission, section 2323 read as follows: “§ 2323. Collection and publication of data and reports; information to workers “(a) In General.—Not later than 180 days after February 17, 2009, the Secretary shall implement a system to collect and report the data described in subsection (b), as well as any other information that the Secretary considers appropriate to effectively carry out this part. “(b) Data to Be Included.—The system required under subsection (a) shall include collection of and reporting on the following data for each fiscal year:“(1) Data on petitions filed, certified, and denied.—“(A) The number of petitions filed, certified, and denied under this part. “(B) The number of workers covered by petitions filed, certified, and denied. “(C) The number of petitions, classified by—“(i) the basis for certification, including increased imports, shifts in production, and other bases of eligibility; and “(ii) congressional district of the United States. “(D) The average time for processing such petitions. “(2) Data on benefits received.—“(A) The number of workers receiving

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19 U.S.C. § 2271 — Monitoring, modification, and termination of action

**(a) Monitoring** (1) So long as any action taken under [section 2253 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section2253&num=0&edition=prelim) remains in effect, the Commission shall monitor developments with respect to the domestic industry, including the progress and specific efforts made by workers and firms in the domestic industry to make a positive adjustment to import competition. (2) If the initial period during which the action taken under [section 2253 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section2253&num=0&edition=prelim) is in effect exceeds 3 years, or if an extension of such action exceeds 3 years, the Commission shall submit a report on the results of the monitoring under paragraph (1) to the President and to the Congress not later than the date that is the mid-point of the initial period, and of each such extension, during which the action is in effect. (3) In the course of preparing each report under paragraph (2), the Commission shall hold a hearing at which interested persons shall be given a reasonable opportunity to be present, to produce evidence, and to be heard. (4) Upon request of the President, the Commission shall advise the President of its judgment as to the probable economic effect on the industry concerned of any reduction, modification, or termination of the action taken under [section 2253 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section2253&num=0&edition=prelim) which is under consideration. **(b) Reduction, modification, and termination of action** (1) Action taken under [section 2253 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section2253&num=0&edition=prel

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19 U.S.C. § 2345a — Financial assistance

**(a) Direct loans and guarantees of loans** The Secretary may provide to a firm, on such terms and conditions as he determines to be appropriate, such financial assistance in the form of direct loans or guarantees of loans as in his judgment will materially contribute to the economic adjustment of the firm. The assumption of an outstanding indebtedness of the firm, with or without recourse, shall be considered to be the making of a loan for purposes of this section. **(b) Allowable purposes** Loans or guarantees of loans shall be made under this part only for the purpose of making funds available to the firm— (1) for acquisition, construction, installation, modernization, development, conversion, or expansion of land, plant, buildings, equipment, facilities, or machinery, or (2) to supply such working capital as may be necessary to enable the firm to implement its adjustment proposal. **(c) Limitation on direct loans** No direct loan may be provided to a firm under this part if the firm can obtain loan funds from private sources (with or without a guarantee) at a rate no higher than the maximum interest per annum that a participating financial institution may establish on guaranteed loans made pursuant to [section 636(a) of title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/a&num=0&edition=prelim). **(d) Limitations on loans and guarantees** Notwithstanding any other provision of this part, no direct loans or guarantees of loans may be made under this part after April 7, 1986.

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19 U.S.C. § 2346 — Conditions for financial assistance

**(a) Unavailability of firm’s resources; reasonable assurance of repayment** No financial assistance shall be provided under this part unless the Secretary determines— (1) that the funds required are not available from the firm’s own resources; and (2) that there is reasonable assurance of repayment of the loan. **(b) Interest rates** (1) The rate of interest on direct loans made under this part shall be— (A) a rate determined by the Secretary of the Treasury taking into consideration the current average market yield on outstanding marketable obligations of the United States with remaining periods of maturity that are comparable to the average maturities of such loans, adjusted to the nearest one-eighth of 1 percent, plus (B) an amount adequate in the judgment of the Secretary of Commerce to cover administrative costs and probable losses under the program. (2) The Secretary may not guarantee any loan under this part if— (A) the rate of interest on either the portion to be guaranteed, or the portion not to be guaranteed, is determined by the Secretary to be excessive when compared with other loans bearing Federal guarantees and subject to similar terms and conditions, and (B) the interest on the loan is exempt from Federal income taxation under [section 103 of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section103&num=0&edition=prelim). **(c) Maturity of loans** The Secretary shall make no loan or guarantee of a loan under [section 2344(b)(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section2344/b/1&num=0&edition=prelim) having a maturity in excess of 25 years or the useful life of the fixed assets (whichever period is shorter), including renewals and extensions; and shall mak

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19 U.S.C. § 2349 — Administration of financial assistance

**(a) Powers of Secretary** In making and administering guarantees and loans under [section 2344 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section2344&num=0&edition=prelim), the Secretary may— (1) require security for any such guarantee or loan, and enforce, waive, or subordinate such security; (2) assign or sell at public or private sale, or otherwise dispose of, upon such terms and conditions and for such consideration as he shall determine to be reasonable, any evidence of debt, contract, claim, personal property, or security assigned to or held by him in connection with such guarantees or loans, and collect, compromise, and obtain deficiency judgments with respect to all obligations assigned to or held by him in connection with such guarantees or loans until such time as such obligations may be referred to the Attorney General for suit or collection; (3) renovate, improve, modernize, complete, insure, rent, sell, or otherwise deal with, upon such terms and conditions and for such consideration as he shall determine to be reasonable, any real or personal property conveyed to or otherwise acquired by him in connection with such guarantees or loans; (4) acquire, hold, transfer, release, or convey any real or personal property or any interest therein whenever deemed necessary or appropriate, and execute all legal documents for such purposes; and (5) exercise all such other powers and take all such other acts as may be necessary or incidental to the carrying out of functions pursuant to [section 2344 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section2344&num=0&edition=prelim). **(b) Recordation of mortgages** Any mortgage acquired as security under subsection (a) shall be recorded un

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19 U.S.C. § 2350 — Protective provisions

**(a) Recordkeeping** Each recipient of adjustment assistance under this part shall keep records which fully disclose the amount and disposition by such recipient of the proceeds, if any, of such adjustment assistance, and which will facilitate an effective audit. The recipient shall also keep such other records as the Secretary may prescribe. **(b) Audit and examination** The Secretary and the Comptroller General of the United States shall have access for the purpose of audit and examination to any books, documents, papers, and records of the recipient pertaining to adjustment assistance under this part. **(c) Certifications** No adjustment assistance under this part shall be extended to any firm unless the owners, partners, or officers certify to the Secretary— (1) the names of any attorneys, agents, and other persons engaged by or on behalf of the firm for the purpose of expediting applications for such adjustment assistance; and (2) the fees paid or to be paid to any such person. **(d) Conflicts of interest** No financial assistance shall be provided to any firm under this part unless the owners, partners, or officers shall execute an agreement binding them and the firm for a period of 2 years after such financial assistance is provided, to refrain from employing, tendering any office or employment to, or retaining for professional services any person who, on the date such assistance or any part thereof was provided, or within 1 year prior thereto, shall have served as an officer, attorney, agent, or employee occupying a position or engaging in activities which the Secretary shall have determined involve discretion with respect to the provision of such financial assistance.

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19 U.S.C. § 2351 — Penalties

Whoever makes a false statement of a material fact knowing it to be false, or knowingly fails to disclose a material fact, or whoever willfully overvalues any security, for the purpose of influencing in any way a determination under this part, or for the purpose of obtaining money, property, or anything of value under this part, shall be fined not more than $5,000 or imprisoned for not more than 2 years, or both.

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19 U.S.C. § 2352 — Civil actions

In providing technical and financial assistance under this part the Secretary may sue and be sued in any court of record of a State having general jurisdiction or in any United States district court, and jurisdiction is conferred upon such district court to determine such controversies without regard to the amount in controversy; but no attachment, injunction, garnishment, or other similar process, mesne or final, shall be issued against him or his property. Nothing in this section shall be construed to except the activities pursuant to sections 2343 and 2344 of this title from the application of sections 516, 547, and 2679 of title 28.

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19 U.S.C. § 2353 — Definitions

For purposes of this part, the term “firm” includes an individual proprietorship, partnership, joint venture, association, corporation (including a development corporation), business trust, cooperative, trustee in bankruptcy, and receiver under decree of any court. A firm, together with any predecessor or successor firm, or any affiliated firm controlled or substantially beneficially owned by substantially the same persons, may be considered a single firm where necessary to prevent unjustifiable benefits.

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19 U.S.C. § 2344 — Financial assistance

Page 629 TITLE 19—CUSTOMS DUTIES § 2344 lating to the assistance furnished and allowed the giv- ing of assistance to firms in the preparation of their pe- titions for certification of eligibility under section 2341 of this title. Subsec. (b). Pub. L. 97–35 amended subsec. (b) gen- erally, incorporating in pars. (1) and (2) provisions for- merly contained in subsec. (c), inserted reference to grants to intermediary organizations (including Trade Adjustment Assistance Centers) in par. (1), and added par. (3). Provisions formerly contained in subsec. (b) were transferred to subsec. (a). Subsec. (c). Pub. L. 97–35 struck out subsec. (c) and transferred the provisions to subsec. (b)(1) and (2). Statutory Notes and Related Subsidiaries EFFECTIVE AND TERMINATION DATES OF 2015 REVIVAL For revival and applicability, beginning on June 29, 2015, of the provisions of this section as in effect on Dec. 31, 2013, see section 402(b), (c) of Pub. L. 114–27, set out as a note preceding section 2271 of this title. For reversion, beginning on July 1, 2021, to the provi- sions of this section as in effect on Jan. 1, 2014, with certain exceptions and subject to section 406(b) of Pub. L. 114–27, see section 406 of Pub. L. 114–27, set out as a note preceding section 2271 of this title. EFFECTIVE AND TERMINATION DATES OF 2011 REVIVAL For revival and applicability, beginning on Oct. 21, 2011, of the provisions of this section as in effect on Feb. 12, 2011, see section 201(b), (c) of Pub. L. 112–40, set out as a note preceding section 2271 of this title. Section 233 of Pub. L. 112–40, formerly set out as a note preceding section 2271 of this title, which provided for the reversion, beginning on Jan. 1, 2014, of the provi- sions of this section to those in effect on Feb. 1

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