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46 U.S.C. § 53717 — Management of funds in the Treasury
Federal law — U.S. Code and appendices · legal_authorities
**(a) Definition.—** In this section, the term “FCRA” means the Federal Credit Reform Act of 1990 ([2 U.S.C. 661](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section661&num=0&edition=prelim) et seq.).
**(b) Loan Guarantees by Administrator.—**
(1) **When not subject to fcra.—** — The Administrator shall account for payments and disbursements involving obligations guaranteed under this chapter and not subject to FCRA in an account in the Treasury entitled the Federal Ship Financing Fund Liquidating Account (a liquidating account as defined in FCRA).
(2) **When subject to fcra.—** — The Administrator shall account for payments and disbursements involving obligations guaranteed under this chapter and subject to FCRA in a separate account in the Treasury entitled the Federal Ship Financing Guaranteed Loan Financing Account (a financing account as defined in FCRA).
**(c) Loan Guarantees by Secretary.—**
(1) **When not subject to fcra.—** — The Secretary shall account for payments and disbursements involving obligations guaranteed under this chapter and not subject to FCRA in a separate account in the Treasury established for this purpose.
(2) **When subject to fcra.—** — The Secretary shall account for payments and disbursements involving obligations guaranteed under this chapter and subject to FCRA in a separate account in the Treasury established for this purpose.
**(d) Direct Loans by Secretary.—** The Secretary shall account for payments and disbursements involving direct loans made under this chapter in a separate account in the Treasury established for this purpose.
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Source file: Laws/federal/codes/united-states-code/title-46/section-53717-management-of-funds-in-the-treasury--3bb9b3b372.md
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Source location: Title 46, Chapter 537, § 53717; chapter-537-loans-and-guarantees.md
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**(a) Definition.—** In this section, the term “FCRA” means the Federal Credit Reform Act of 1990 ([2 U.S.C. 661](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section661&num=0&edition=prelim) et seq.).
**(b) Loan Guarantees by Administrator.—**
(1) **When not subject to fcra.—** — The Administrator shall account for payments and disbursements involving obligations guaranteed under this chapter and not subject to FCRA in an account in the Treasury entitled the Federal Ship Financing Fund Liquidating Account (a liquidating account as defined in FCRA).
(2) **When subject to fcra.—** — The Administrator shall account for payments and disbursements involving obligations guaranteed under this chapter and subject to FCRA in a separate account in the Treasury entitled the Federal Ship Financing Guaranteed Loan Financing Account (a financing account as defined in FCRA).
**(c) Loan Guarantees by Secretary.—**
(1) **When not subject to fcra.—** — The Secretary shall account for payments and disbursements involving obligations guaranteed under this chapter and not subject to FCRA in a separate account in the Treasury established for this purpose.
(2) **When subject to fcra.—** — The Secretary shall account for payments and disbursements involving obligations guaranteed under this chapter and subject to FCRA in a separate account in the Treasury established for this purpose.
**(d) Direct Loans by Secretary.—** The Secretary shall account for payments and disbursements involving direct loans made under this chapter in a separate account in the Treasury established for this purpose.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Enforcement in House of Representatives** It shall not be in order in the House of Representatives to consider a rule or order that waives the application of [section 658d of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section658d&num=0&edition=prelim).
**(b) Disposition of points of order**
(1) **Application to House of Representatives** — This subsection shall apply only to the House of Representatives.
(2) **Threshold burden** — In order to be cognizable by the Chair, a point of order under [section 658d of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section658d&num=0&edition=prelim) or subsection (a) of this section must specify the precise language on which it is premised.
(3) **Question of consideration** — As disposition of points of order under [section 658d of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section658d&num=0&edition=prelim) or subsection (a) of this section, the Chair shall put the question of consideration with respect to the proposition that is the subject of the points of order.
(4) **Debate and intervening motions** — A question of consideration under this section shall be debatable for 10 minutes by each Member initiating a point of order and for 10 minutes by an opponent on each point of order, but shall otherwise be decided without intervening motion except one that the House adjourn or that the Committee of the Whole rise, as the case may be.
(5) **Effect on amendment in order as original text** — The disposition of the question of consideration under this subsection with respect to a bill or joint resolution shall be considered also to determine the question of consideration under this subsection with respect to an amendm
Source: Supplied U.S. Code snapshot — release unconfirmed · 2 U.S.C. § 661
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** This subchapter shall not apply to the credit or insurance activities of the Federal Deposit Insurance Corporation, National Credit Union Administration, Resolution Trust Corporation, Pension Benefit Guaranty Corporation, National Flood Insurance, National Insurance Development Fund, Crop Insurance, or Tennessee Valley Authority.
**(b) Study** The Director and the Director of the Congressional Budget Office shall each study whether the accounting for Federal deposit insurance programs should be on a cash basis on the same basis as loan guarantees, or on a different basis. Each Director shall report findings and recommendations to the President and the Congress on or before May 31, 1991.
**(c) Access to data** For the purposes of subsection (b), the Office of Management and Budget and the Congressional Budget Office shall have access to all agency data that may facilitate these studies.
Source: Supplied U.S. Code snapshot — release unconfirmed · 2 U.S.C. § 621
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Federal law — U.S. Code and appendices · legal_authorities
In this title, the term “agency” means a department, agency, or instrumentality of the United States Government.
Source: Supplied U.S. Code snapshot — release unconfirmed · 46 U.S.C. § 101
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Federal law — U.S. Code and appendices · legal_authorities
All moneys in the Fisheries Loan Fund established under Section 11 So in original. Probably should not be capitalized. 742c of this title shall be invested by the Secretary of Commerce in obligations of the United States, except so much as shall be currently needed for loans or administrative expenses authorized under the Fisheries Loan Fund. All accrued proceeds from such investment shall be, subject to amounts provided in advance by appropriations, credited by the Secretary of the Treasury to the debt of the Secretary of Commerce incurred under [section 53723 of title 46](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title46-section53723&num=0&edition=prelim) in connection with fisheries financing under chapter 537 of title 46 for so long as such debt exists. All accrued proceeds from such investment, after such debt has been liquidated, shall be, subject to amounts provided in advance by appropriations, credited to the fisheries portion of the Federal Ship Financing Fund established under section 1102 of the Merchant Marine Act, 1936, as amended, and used for the fisheries purposes provided in chapter 537 of title 46.
Source: Supplied U.S. Code snapshot — release unconfirmed · 16 U.S.C. § 742c–1
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In General.—** To be eligible for a guarantee under this chapter, an obligation must aid in any of the following:
(1)
(A) Financing (including reimbursement of an obligor for expenditures previously made for) the construction, reconstruction, or reconditioning of a vessel designed principally for research, or for commercial use—
(i) in the coastwise or intercoastal trade;
(ii) on the Great Lakes, or on bays, sounds, rivers, harbors, or inland lakes of the United States;
(iii) in foreign trade as defined in [section 109(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title46-section109/b&num=0&edition=prelim);
(iv) as an ocean thermal energy conversion facility or plantship; or
(v) as a floating drydock in the construction, reconstruction, reconditioning, or repair of vessels.
(B) A guarantee under subparagraph (A) may not be made more than one year after delivery of the vessel (or redelivery if the vessel was reconstructed or reconditioned) unless the proceeds of the obligation are used to finance the construction, reconstruction, or reconditioning of a vessel or of facilities or equipment related to marine operations.
(2) Financing (including reimbursement of an obligor for expenditures previously made for) the construction, reconstruction, reconditioning, or purchase of a vessel owned by citizens of the United States and designed principally for research, or for commercial use in the fishing industry.
(3) Financing the purchase, reconstruction, or reconditioning of a vessel or fishery facility—
(A) for which an obligation was guaranteed under this chapter; and
(B) that, under subchapter II of this chapter—
(i) is a vessel or fishery facility for which an obligation was accelerated and pa
Source: Supplied U.S. Code snapshot — release unconfirmed · 46 U.S.C. § 53706
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In General.—** If the proceeds of an obligation guaranteed under this chapter are to be used to finance the construction, reconstruction, or reconditioning of a vessel that will serve as security for a guarantee under this chapter, the Secretary or Administrator may accept and hold in escrow, under an escrow agreement with the obligor, a portion of the proceeds of all obligations guaranteed under this chapter whose proceeds are to be so used which is equal to—
(1) the excess of—
(A) the principal amount of all obligations whose proceeds are to be so used; over
(B) 75 percent or 87.5 percent, whichever is applicable under [section 53709(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title46-section53709/b&num=0&edition=prelim), of the amount paid by or for the account of the obligor for the construction, reconstruction, or reconditioning of the vessel; plus
(2) any interest the Secretary or Administrator may require on the amount described in paragraph (1).
**(b) Security Involving Both Uncompleted and Delivered Vessels.—** If the security for the guarantee of an obligation relates both to a vessel to be constructed, reconstructed, or reconditioned and to a delivered vessel, the principal amount of the obligation shall be prorated for purposes of subsection (a) under regulations prescribed by the Secretary or Administrator.
**(c) Disbursement Before Termination of Agreement.—**
(1) **Purposes.—** — The Secretary or Administrator shall disburse amounts in the escrow fund, as specified in the escrow agreement, to—
(A) pay amounts the obligor is obligated to pay for—
(i) the construction, reconstruction, or reconditioning of a vessel used as security for the guarantee; and
(ii) interest on the obligations;
(B)
Source: Supplied U.S. Code snapshot — release unconfirmed · 46 U.S.C. § 53715
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Cash Payment.—** Amounts required to be paid by the Secretary or Administrator under section 53721 or 53722 of this title shall be paid in cash.
**(b) Issuance of Obligations.—** If amounts in the appropriate account under [section 53717 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title46-section53717&num=0&edition=prelim) are not sufficient to make a payment required under section 53721 or 53722 of this title, the Secretary or Administrator may issue obligations to the Secretary of the Treasury. The Secretary or Administrator, with the approval of the Secretary of the Treasury, shall prescribe the form, denomination, maturity, and other terms (except the interest rate) of the obligations. The Secretary of the Treasury shall set the interest rate for the obligations, considering the current average market yield on outstanding marketable obligations of the United States Government of comparable maturities during the month before the obligations are issued.
**(c) Purchase of Obligations.—** The Secretary of the Treasury shall purchase the obligations issued under this section. To purchase the obligations, the Secretary of the Treasury may use as a public debt transaction the proceeds from the sale of securities issued under chapter 31 of title 31. The purposes for which securities may be issued under that chapter are extended to include the purchase of obligations under this subsection. The Secretary of the Treasury may sell obligations purchased under this section. A redemption, purchase, or sale of the obligations by the Secretary of the Treasury is a public debt transaction of the Government.
**(d) Deposits and Redemptions.—** The Secretary or Administrator shall deposit amounts borrowed under this section in the appropriate acc
Source: Supplied U.S. Code snapshot — release unconfirmed · 46 U.S.C. § 53723
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Federal law — U.S. Code and appendices · legal_authorities
Page 212
TITLE 2—THE CONGRESS
§ 661
1 So in original. Probably should be capitalized.
pared to the authorization level for the last
year in which authorization of appropriations
is already provided.
(Pub. L. 93–344, title IV, § 428, as added Pub. L.
104–4, title I, § 101(a)(2), Mar. 22, 1995, 109 Stat.
59.)
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE
Section effective Jan. 1, 1996, or on the date 90 days
after appropriations are made available as authorized
under section 1516 of this title, whichever is earlier, and
applicable to legislation considered on and after such
date, see section 110 of Pub. L. 104–4, set out as a note
under section 1511 of this title.
SUBCHAPTER III—CREDIT REFORM
§ 661. Purposes
The purposes of this subchapter are to—
(1) measure more accurately the costs of
Federal credit programs;
(2) place the cost of credit programs on a
budgetary basis equivalent to other Federal
spending;
(3) encourage the delivery of benefits in the
form most appropriate to the needs of bene-
ficiaries; and
(4) improve the allocation of resources
among credit programs and between credit and
other spending programs.
(Pub. L. 93–344, title V, § 501, as added Pub. L.
101–508, title XIII, § 13201(a), Nov. 5, 1990, 104
Stat. 1388–610.)
Editorial Notes
PRIOR PROVISIONS
A prior section 661, Pub. L. 93–344, title VI, § 606, July
12, 1974, 88 Stat. 325, directed that Budget Committees
of House and Senate study, on a continuing basis, any
provisions of law which exempt agencies or programs
from inclusion in the budget and make recommenda-
tions from time to time with regard to terminating or
modifying such provisions, prior to repeal by Pub. L.
99–177, title II, §§ 223, 275(a)(1), Dec. 12, 1985, 99 Stat.
1060, 1100, effective Dec. 12
Source: Supplied 2024 U.S. Code historical extraction · 2 U.S.C. § 661
Stored review status: historical_2024_not_currentness_verified. The source passage cites 2 U.S.C. § 661. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 453
TITLE 46—SHIPPING
§ 53717
(3) RETENTION
AGAINST
DEFAULT.—The Sec-
retary or Administrator may retain and offset
any or all of the cash of an obligor in the fund,
and any income realized thereon, as part of
the Secretary’s or Administrator’s recovery
against the obligor in case of a default by the
obligor on an obligation.
(Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1616;
Pub.
L.
109–163,
div.
C,
title
XXXV,
§ 3507(a)(1)(H), (3), Jan. 6, 2006, 119 Stat. 3555;
Pub.
L.
110–181,
div.
C,
title
XXXV,
§ 3522(a)(10)(B), (11), (b), Jan. 28, 2008, 122 Stat.
598.)
HISTORICAL AND REVISION NOTES
Revised
Section
Source (U.S. Code)
Source (Statutes at Large)
53716 ..........
46 App.:1279b.
June 29, 1936, ch. 858, title
XI, § 1109, as added Pub. L.
107–107, title XXXV, § 3503,
Dec. 28, 2001, 115 Stat.
1392.
In subsection (a), the word ‘‘established’’ is omitted
for consistency with other codified titles of the United
States Code.
Editorial Notes
AMENDMENTS
2008—Pub. L. 110–181, § 3522(b), repealed Pub. L.
109–163, § 3507(a)(1)(H), (3). See 2006 Amendment note
below.
Pub. L. 110–181, § 3522(a)(10)(B), (11), incorporated the
substance of the amendment by Pub. L. 109–163,
§ 3507(a)(1)(H), (3), into this section by inserting ‘‘or Ad-
ministrator’’ after ‘‘Secretary’’ wherever appearing, ex-
cept the second place appearing in subsec. (c), and in-
serting ‘‘or Administrator’s’’ after ‘‘Secretary’s’’ in
subsec. (d)(3). See 2006 Amendment note below and sec-
tion 18(a) of Pub. L. 109–304, set out as a Legislative
Purpose and Construction note preceding section 101 of
this title.
2006—Pub. L. 109–163, § 3507(a)(1)(H), (3), which di-
rected the amendment of section 1279b of the former
Appendix to this title from which this section was
Source: Supplied 2024 U.S. Code historical extraction · 46 U.S.C. § 53717
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