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10 U.S.C. § 7555 — ARMS Initiative loan guarantee program
Federal law — U.S. Code and appendices · legal_authorities
**(a) Program Authorized.—** Subject to subsection (b), the Secretary may carry out a loan guarantee program to encourage commercial firms to use eligible facilities under this chapter. Under any such program, the Secretary may guarantee the repayment of any loan made to a commercial firm to fund, in whole or in part, the establishment of a commercial activity to use an eligible facility under this chapter.
**(b) Advanced Budget Authority.—** Loan guarantees under this section may not be committed except to the extent that appropriations of budget authority to cover their costs are made in advance, as required by section 504 of the Federal Credit Reform Act of 1990 ([2 U.S.C. 661c](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section661c&num=0&edition=prelim)).
**(c) Program Administration.—**
(1) The Secretary may enter into an agreement with any of the officials named in paragraph (2) under which that official may, for the purposes of this section—
(A) process applications for loan guarantees;
(B) guarantee repayment of loans; and
(C) provide any other services to the Secretary to administer the loan guarantee program.
(2) The officials referred to in paragraph (1) are as follows:
(A) The Administrator of the Small Business Administration.
(B) The head of any appropriate agency in the Department of Agriculture, including—
(i) the Administrator of the Farmers Home Administration; and
(ii) the Administrator of the Rural Development Administration.
(3) Each official authorized to do so under an agreement entered into under paragraph (1) may guarantee loans under this section to commercial firms of any size, notwithstanding any limitations on the size of applicants imposed on other loan guarantee programs that the offic
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Source file: Laws/federal/codes/united-states-code/title-10/section-7555-arms-initiative-loan-guarantee-program--1f4c60b640.md
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Source location: Title 10, Chapter 764, § 7555; chapter-764-armaments-industrial-base.md
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**(a) Program Authorized.—** Subject to subsection (b), the Secretary may carry out a loan guarantee program to encourage commercial firms to use eligible facilities under this chapter. Under any such program, the Secretary may guarantee the repayment of any loan made to a commercial firm to fund, in whole or in part, the establishment of a commercial activity to use an eligible facility under this chapter.
**(b) Advanced Budget Authority.—** Loan guarantees under this section may not be committed except to the extent that appropriations of budget authority to cover their costs are made in advance, as required by section 504 of the Federal Credit Reform Act of 1990 ([2 U.S.C. 661c](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section661c&num=0&edition=prelim)).
**(c) Program Administration.—**
(1) The Secretary may enter into an agreement with any of the officials named in paragraph (2) under which that official may, for the purposes of this section—
(A) process applications for loan guarantees;
(B) guarantee repayment of loans; and
(C) provide any other services to the Secretary to administer the loan guarantee program.
(2) The officials referred to in paragraph (1) are as follows:
(A) The Administrator of the Small Business Administration.
(B) The head of any appropriate agency in the Department of Agriculture, including—
(i) the Administrator of the Farmers Home Administration; and
(ii) the Administrator of the Rural Development Administration.
(3) Each official authorized to do so under an agreement entered into under paragraph (1) may guarantee loans under this section to commercial firms of any size, notwithstanding any limitations on the size of applicants imposed on other loan guarantee programs that the official administers.
(4) To the extent practicable, each official processing loan guarantee applications under this section pursuant to an agreement entered into under paragraph (1) shall use the same processing procedures as the official uses for processing loan guarantee applications under other loan guarantee programs that the official administers.
**(d) Loan Limits.—** The maximum amount of loan principal guaranteed during a fiscal year under this section may not exceed—
(1) $20,000,000, with respect to any single borrower; and
(2) $320,000,000 with respect to all borrowers.
**(e) Transfer of Funds.—** The Secretary may transfer to an official providing services under subsection (c), and that official may accept, such funds as may be necessary to administer the loan guarantee program under this section.
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Federal law — U.S. Code and appendices · legal_authorities
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 beneficiaries; and
(4) improve the allocation of resources among credit programs and between credit and other spending programs.
Source: Supplied U.S. Code snapshot — release unconfirmed · 2 U.S.C. § 661c
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Defense Acquisition System.—** In this part, the term “defense acquisition system” means—
(1) the workforce engaged in carrying out the acquisition of property and services for the Department of Defense;
(2) the management structure responsible for directing and overseeing the acquisition of property and services for the Department of Defense; and
(3) the statutory, regulatory, and policy framework that guides the acquisition of property and services for the Department of Defense.
**(b) Element of the Defense Acquisition System.—** In this part, the term “element of the defense acquisition system” means an organization that—
(1) employs members of the acquisition workforce;
(2) carries out acquisition functions; and
(3) focuses primarily on acquisition.
**(c) Acquisition.—** In this part, the term “acquisition” has the meaning provided in [section 131 of title 41](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title41-section131&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Designation.—**
(1) The Secretary concerned, or the Secretary of Defense in the case of a Defense Agency, shall designate each depot-level activity or military arsenal facility of the military departments and the Defense Agencies (other than facilities approved for closure or major realignment under the Defense Base Closure and Realignment Act of 1990 (part A of title XXIX of Public Law 101–510; [10 U.S.C. 2687](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title10-section2687&num=0&edition=prelim) note)) as a Center of Industrial and Technical Excellence in the recognized core competencies of the designee.
(2) The Secretary of Defense shall establish a policy to encourage the Secretary of each military department and the head of each Defense Agency to reengineer industrial processes and adopt best-business practices at their Centers of Industrial and Technical Excellence in connection with their core competency requirements, so as to serve as recognized leaders in their core competencies throughout the Department of Defense and in the national technology and industrial base (as defined in [section 4801(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title10-section4801/1&num=0&edition=prelim)).
(3) The Secretary of a military department may conduct a pilot program, consistent with applicable requirements of law, to test any practices referred to in paragraph (2) that the Secretary determines could improve the efficiency and effectiveness of operations at Centers of Industrial and Technical Excellence, improve the support provided by the Centers for the armed forces user of the services of the Centers, and enhance readiness by reducing the time that it takes to repair equipment.
**(b) Public-Private Partnerships.—*
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Federal law — U.S. Code and appendices · legal_authorities
Page 3099
TITLE 10—ARMED FORCES
§ 7555
boundaries of the installation where the facil-
ity is located.
(B) Reductions in overhead costs.
(C) Reductions in product cost.
(D) The demilitarization and storage of con-
ventional ammunition.
(3) The authority under paragraph (1) may be
exercised without regard to section 3302(b) of
title 31 and any other provision of law.
(Added Pub. L. 106–398, § 1 [[div. A], title III,
§ 344(a)(1)], Oct. 30, 2000, 114 Stat. 1654, 1654A–69,
§ 4554; amended Pub. L. 109–163, div. A, title III,
§ 323(b), Jan. 6, 2006, 119 Stat. 3194; renumbered
§ 7554, Pub. L. 115–232, div. A, title VIII, § 808(d),
Aug. 13, 2018, 132 Stat. 1839; Pub. L. 116–283, div.
A, title XVIII, § 1883(b)(2), Jan. 1, 2021, 134 Stat.
4294.)
Editorial Notes
AMENDMENTS
2021—Subsec. (a)(3)(B). Pub. L. 116–283 substituted
‘‘section 3204(a)(5)’’ for ‘‘section 2304(c)(5)’’.
2018—Pub. L. 115–232 renumbered section 4554 of this
title as this section.
2006—Subsec. (b)(2)(D). Pub. L. 109–163 added subpar.
(D).
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 2021 AMENDMENT
Amendment by Pub. L. 116–283 effective Jan. 1, 2022,
with additional provisions for delayed implementation
and applicability of existing law, see section 1801(d) of
Pub. L. 116–283, set out as a note preceding section 3001
of this title.
EFFECTIVE DATE OF 2018 AMENDMENT
Amendment by Pub. L. 115–232 effective Feb. 1, 2019,
with provision for the coordination of amendments and
special rule for certain redesignations, see section 800
of Pub. L. 115–232, set out as a note preceding section
3001 of this title.
TEMPORARY AUTHORITY TO EXTEND CONTRACTS AND
LEASES UNDER THE ARMS INITIATIVE
Pub. L. 114–92, div. A, title III, § 343, Nov. 25, 2015, 129
Stat. 794, as amended by Pub.
Source: Supplied 2024 U.S. Code historical extraction · 10 U.S.C. § 7555
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Federal law — U.S. Code and appendices · legal_authorities
Page 214
TITLE 2—THE CONGRESS
§ 661c
(e) Historical credit program costs
The Director shall review, to the extent pos-
sible, historical data and develop the best pos-
sible estimates of adjustments that would con-
vert aggregate historical budget data to credit
reform accounting.
(f) Administrative costs
The Director and the Director of the Congres-
sional Budget Office shall each analyze and re-
port to Congress on differences in long-term ad-
ministrative costs for credit programs versus
grant programs by January 31, 1992. Their re-
ports shall recommend to Congress any changes,
if necessary, in the treatment of administrative
costs under credit reform accounting.
(Pub. L. 93–344, title V, § 503, as added Pub. L.
101–508, title XIII, § 13201(a), Nov. 5, 1990, 104
Stat. 1388–611.)
Editorial Notes
PRIOR PROVISIONS
A prior section 503 of Pub. L. 93–344, title V, July 12,
1974, 88 Stat. 321, was classified to section 701 of former
Title 31, prior to repeal and reenactment in section
1552(a) of Title 31, Money and Finance, by Pub. L.
97–258, § 5(b), Sept. 13, 1982, 96 Stat. 1068, the first sec-
tion of which enacted Title 31.
§ 661c. Budgetary treatment
(a) President’s budget
Beginning with fiscal year 1992, the Presi-
dent’s budget shall reflect the costs of direct
loan and loan guarantee programs. The budget
shall also include the planned level of new direct
loan obligations or loan guarantee commit-
ments associated with each appropriations re-
quest.
(b) Appropriations required
Notwithstanding any other provision of law,
new direct loan obligations may be incurred and
new loan guarantee commitments may be made
for fiscal year 1992 and thereafter only to the ex-
tent that—
(1) new budget authority to cover their costs
is provided in advance
Source: Supplied 2024 U.S. Code historical extraction · 2 U.S.C. § 661c
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