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51 U.S.C. § 50302 — Loan guarantees for production of commercial reusable in-space transportation

Federal law — U.S. Code and appendices · legal_authorities

51 U.S.C. § 50302 — Loan guarantees for production of commercial reusable in-space transportation

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Source location: Title 51, Chapter 503, § 50302; chapter-503-commercial-reusable-in-space-transportation.md

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**(a) Authority To Make Loan Guarantees.—** The Secretary may guarantee loans made to eligible United States commercial providers for purposes of producing commercial reusable in-space transportation services or systems. **(b) Eligible United States Commercial Providers.—** The Secretary shall prescribe requirements for the eligibility of United States commercial providers for loan guarantees under this section. Such requirements shall ensure that eligible providers are financially capable of undertaking a loan guaranteed under this section. **(c) Limitation on Loans Guaranteed.—** The Secretary may not guarantee a loan for a United States commercial provider under this section unless the Secretary determines that credit would not otherwise be reasonably available at the time of the guarantee for the commercial reusable in-space transportation service or system to be produced utilizing the proceeds of the loan. **(d) Credit Subsidy.—** (1) **Collection required.—** — The Secretary shall collect from each United States commercial provider receiving a loan guarantee under this section an amount equal to the amount, as determined by the Secretary, to cover the cost, as defined in section 502(5) of the Federal Credit Reform Act of 1990 ([2 U.S.C. 661a(5)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section661a/5&num=0&edition=prelim)), of the loan guarantee. (2) **Periodic disbursements.—** — In the case of a loan guarantee in which proceeds of the loan are disbursed over time, the Secretary shall collect the amount required under this subsection on a pro rata basis, as determined by the Secretary, at the time of each disbursement. **(e) Other Terms and Conditions.—** (1) **Prohibition on subordination.—** — A loan guaranteed under this section may not be subordinated to another debt contracted by the United States commercial provider concerned, or to any other claims against such provider. (2) **Restriction on income.—** — A loan guaranteed under this section may not— (A) provide income which is excluded from gross income for purposes of chapter 1 of the Internal Revenue Code of 1986 ([26 U.S.C. 1](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section1&num=0&edition=prelim) et seq.); or (B) provide significant collateral or security, as determined by the Secretary, for other obligations the income from which is so excluded. (3) **Treatment of guarantee.—** — The guarantee of a loan under this section shall be conclusive evidence of the following: (A) That the guarantee has been properly obtained. (B) That the loan qualifies for the guarantee. (C) That, but for fraud or material misrepresentation by the holder of the loan, the guarantee is valid, legal, and enforceable. (4) **Other terms and conditions.—** — The Secretary may establish any other terms and conditions for a guarantee of a loan under this section as the Secretary considers appropriate to protect the financial interests of the United States. **(f) Enforcement of Rights.—** (1) **In general.—** — The Attorney General may take any action the Attorney General considers appropriate to enforce any right accruing to the United States under a loan guarantee under this section. (2) **Forbearance.—** — The Attorney General may, with the approval of the parties concerned, forbear from enforcing any right of the United States under a loan guaranteed under this section for the benefit of a United States commercial provider if such forbearance will not result in any cost, as defined in section 502(5) of the Federal Credit Reform Act of 1990 ([2 U.S.C. 661a(5)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section661a/5&num=0&edition=prelim)), to the United States. (3) **Utilization of property.—** — Notwithstanding any other provision of law and subject to the terms of a loan guaranteed under this section, upon the default of a United States commercial provider under the loan, the Secretary may, at the election of the Secretary— (A) assume control of the physical asset financed by the loan; and (B) complete, recondition, reconstruct, renovate, repair, maintain, operate, or sell the physical asset. **(g) Credit Instruments.—** (1) **Authority to issue instruments.—** — Notwithstanding any other provision of law, the Secretary may, subject to such terms and conditions as the Secretary considers appropriate, issue credit instruments to United States commercial providers of in-space transportation services or systems, with the aggregate cost (as determined under the provisions of 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.)) of such instruments not to exceed $1,500,000,000, but only to the extent that new budget authority to cover such costs is provided in subsequent appropriations Acts or authority is otherwise provided in subsequent appropriations Acts. (2) **Credit subsidy.—** — The Secretary shall provide a credit subsidy for any credit instrument issued under this subsection in accordance with the provisions of 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.). (3) **Construction.—** — The eligibility of a United States commercial provider of in-space transportation services or systems for a credit instrument under this subsection is in addition to any eligibility of such provider for a loan guarantee under other provisions of this section.

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Federal law — U.S. Code and appendices · legal_authorities

2 U.S.C. § 661 — Provisions relating to House of Representatives

**(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

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 1 — Tax imposed

**(a) Married individuals filing joint returns and surviving spouses** There is hereby imposed on the taxable income of— (1) every married individual (as defined in section 7703) who makes a single return jointly with his spouse under section 6013, and (2) every surviving spouse (as defined in section 2(a)), a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $36,90015% of taxable income. Over $36,900 but not over $89,150$5,535, plus 28% of the excess over $36,900. Over $89,150 but not over $140,000$20,165, plus 31% of the excess over $89,150. Over $140,000 but not over $250,000$35,928.50, plus 36% of the excess over $140,000. Over $250,000$75,528.50, plus 39.6% of the excess over $250,000. **(b) Heads of households** There is hereby imposed on the taxable income of every head of a household (as defined in section 2(b)) a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $29,60015% of taxable income. Over $29,600 but not over $76,400$4,440, plus 28% of the excess over $29,600. Over $76,400 but not over $127,500$17,544, plus 31% of the excess over $76,400. Over $127,500 but not over $250,000$33,385, plus 36% of the excess over $127,500. Over $250,000$77,485, plus 39.6% of the excess over $250,000. **(c) Unmarried individuals (other than surviving spouses and heads of households)** There is hereby imposed on the taxable income of every individual (other than a surviving spouse as defined in section 2(a) or the head of a household as defined in section 2(b)) who is not a married individual (as defined in section 7703) a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $22,10015% of taxable income. Over $22,100 but not over $53,50

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Federal law — U.S. Code and appendices · legal_authorities

2 U.S.C. § 621 — Treatment of deposit insurance and agencies and other insurance programs

**(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.

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Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 14701 — Repealed. Pub. L. 111–314, § 6, Dec. 18, 2010, 124 Stat. 3444

### Statutory Notes Section 14752, Pub. L. 107–248, title IX, § 903, Oct. 23, 2002, 116 Stat. 1574, related to loan guarantees for production of commercial reusable in-space transportation. See [section 50302 of Title 51](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title51-section50302&num=0&edition=prelim), National and Commercial Space Programs. Section 14753, Pub. L. 107–248, title IX, § 904, Oct. 23, 2002, 116 Stat. 1576, contained definitions. See [section 50301 of Title 51](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title51-section50301&num=0&edition=prelim).

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Federal law — U.S. Code and appendices · legal_authorities

2 U.S.C. § 661 — Purposes

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

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Federal law — U.S. Code and appendices · legal_authorities

2 U.S.C. § 661a — Requests to Congressional Budget Office from Senators

At the written request of a Senator, the Director shall, to the extent practicable, prepare an estimate of the direct costs of a Federal intergovernmental mandate contained in an amendment of such Senator.

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2 U.S.C. § 661a — Definitions

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 1 — Tax imposed

Page 25 TITLE 26—INTERNAL REVENUE CODE § 1 1 Section catchline amended by Pub. L. 95–30 without cor- responding amendment of analysis. 2014—Pub. L. 113–295, div. A, title II, § 221(a)(12)(A), Dec. 19, 2014, 128 Stat. 4038, struck out part VII ‘‘Envi- ronmental tax’’. 1989—Pub. L. 101–234, title I, § 102(a), Dec. 13, 1989, 103 Stat. 1980, repealed Pub. L. 100–360, § 111, and provided that the provisions of law amended by such section are restored or revived as if such section had not been en- acted, see 1988 Amendment note below. 1988—Pub. L. 100–360, title I, § 111(c), July 1, 1988, 102 Stat. 697, added part VIII ‘‘Supplemental medicare pre- mium’’. 1986—Pub. L. 99–499, title V, § 516(b)(5), Oct. 17, 1986, 100 Stat. 1771, added part VII. 1976—Pub. L. 94–455, title XIX, § 1901(b)(2), Oct. 4, 1976, 90 Stat. 1792, struck out part V ‘‘Tax surcharge’’. 1969—Pub. L. 91–172, title III, § 301(b)(1), Dec. 30, 1969, 83 Stat. 585, added part VI. 1968—Pub. L. 90–364, title I, § 102(d), June 28, 1968, 82 Stat. 259, added part V. PART I—TAX ON INDIVIDUALS Sec. 1. Tax imposed. 2. Definitions and special rules. 3. Tax tables for individuals having taxable in- come of less than $20,000.1 [4. Repealed.] 5. Cross references relating to tax on individ- uals. Editorial Notes AMENDMENTS 1976—Pub. L. 94–455, title V, § 501(c)(1), Oct. 4, 1976, 90 Stat. 1559, substituted ‘‘Tax tables for individuals hav- ing taxable income of less than $20,000’’ for ‘‘Optional tax tables for individuals’’ in item 3 and struck out item 4 relating to rules for optional tax. 1969—Pub. L. 91–172, title VIII, § 803(d)(9), Dec. 30, 1969, 83 Stat. 685, substituted ‘‘Definitions and special rules’’ and ‘‘Optional tax tables for individuals’’ for ‘‘Tax in case of joint return or return

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Federal law — U.S. Code and appendices · legal_authorities

51 U.S.C. § 50302 — Loan guarantees for production of com-

Page 111 TITLE 51—NATIONAL AND COMMERCIAL SPACE PROGRAMS § 50302 space systems, and ground administration and control facilities and associated equipment, necessary for the provision of in-space trans- portation services. (4) IN-SPACE TRANSPORTATION VEHICLE.—The term ‘‘in-space transportation vehicle’’ means a vehicle designed— (A) to be based and operated in space; (B) to transport various payloads or ob- jects from one orbit to another orbit; and (C) to be reusable and refueled in space. (5) SECRETARY.—The term ‘‘Secretary’’ means the Secretary of Defense. (6) UNITED STATES COMMERCIAL PROVIDER.— The term ‘‘United States commercial pro- vider’’ means any commercial provider orga- nized under the laws of the United States that is more than 50 percent owned by United States nationals. (Pub. L. 111–314, § 3, Dec. 18, 2010, 124 Stat. 3401.) HISTORICAL AND REVISION NOTES Revised Section Source (U.S. Code) Source (Statutes at Large) 50301 .......... 42 U.S.C. 14753. Pub. L. 107–248, title IX, § 904, Oct. 23, 2002, 116 Stat. 1576. Statutory Notes and Related Subsidiaries FINDINGS Pub. L. 107–248, title IX, § 902, Oct. 23, 2002, 116 Stat. 1573, provided that: ‘‘Congress makes the following findings: ‘‘(1) It is in the national interest to encourage the production of cost-effective, in-space transportation systems, which would be built and operated by the private sector on a commercial basis. ‘‘(2) The use of reusable in-space transportation systems will enhance performance levels of in-space operations, enhance efficient and safe disposal of sat- ellites at the end of their useful lives, and increase the capability and reliability of existing ground-to- space launch vehicles. ‘‘(3) Commercial reusable in-space transportation systems will en

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