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10 U.S.C. § 2873 — Direct loans and loan guarantees

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

10 U.S.C. § 2873 — Direct loans and loan guarantees

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Source location: Title 10, Chapter 169, § 2873; chapter-169-military-construction-and-military-family-housing.md

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**(a) Direct Loans.—** (1) Subject to subsection (c), the Secretary concerned may make direct loans to an eligible entity in order to provide funds to the eligible entity for the acquisition or construction of housing units that the Secretary determines are suitable for use as military family housing or as military unaccompanied housing. (2) The Secretary concerned shall establish such terms and conditions with respect to loans made under this subsection as the Secretary considers appropriate to protect the interests of the United States, including the period and frequency for repayment of such loans and the obligations of the obligors on such loans upon default. **(b) Loan Guarantees.—** (1) Subject to subsection (c), the Secretary concerned may guarantee a loan made to an eligible entity if the proceeds of the loan are to be used by the eligible entity to acquire, or construct housing units that the Secretary determines are suitable for use as military family housing or as military unaccompanied housing. (2) The amount of a guarantee on a loan that may be provided under paragraph (1) may not exceed the amount equal to the lesser of— (A) the amount equal to 80 percent of the value of the project; or (B) the amount of the outstanding principal of the loan. (3) The Secretary concerned shall establish such terms and conditions with respect to guarantees of loans under this subsection as the Secretary considers appropriate to protect the interests of the United States, including the rights and obligations of obligors of such loans and the rights and obligations of the United States with respect to such guarantees. **(c) Limitation on Direct Loan and Guarantee Authority.—** Direct loans and loan guarantees may be made under this section only to the extent that appropriations of budget authority to cover their 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))) are made in advance, or authority is otherwise provided in appropriation Acts. If such appropriation or other authority is provided, there may be established a financing account (as defined in section 502(7) of such Act ([2 U.S.C. 661a(7)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section661a/7&num=0&edition=prelim))), which shall be available for the disbursement of direct loans or payment of claims for payment on loan guarantees under this section and for all other cash flows to and from the Government as a result of direct loans and guarantees made under this section.

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

10 U.S.C. § 2883 — Department of Defense Housing Funds

**(a) Establishment.—** There are hereby established on the books of the Treasury the following accounts: (1) The Department of Defense Family Housing Improvement Fund. (2) The Department of Defense Military Unaccompanied Housing Improvement Fund. **(b) Commingling of Funds Prohibited.—** (1) The Secretary of Defense shall administer each Fund separately. (2) Amounts in the Department of Defense Family Housing Improvement Fund may be used only to carry out activities under this subchapter with respect to military family housing. (3) Amounts in the Department of Defense Military Unaccompanied Housing Improvement Fund may be used only to carry out activities under this subchapter with respect to military unaccompanied housing. **(c) Credits to Funds.—** (1) There shall be credited to the Department of Defense Family Housing Improvement Fund the following: (A) Amounts authorized for and appropriated to that Fund. (B) Subject to subsection (f), any amounts that the Secretary of Defense transfers, in such amounts as provided in appropriation Acts, to that Fund from amounts authorized and appropriated to the Department of Defense for the acquisition, improvement, or construction of military family housing. (C) Proceeds from the conveyance or lease of property or facilities under [section 2878 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title10-section2878&num=0&edition=prelim) for the purpose of carrying out activities under this subchapter with respect to military family housing. (D) Income derived from any activities under this subchapter with respect to military family housing, including interest on loans made under [section 2873 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title10-section28

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

10 U.S.C. § 2873 — Direct loans and loan guarantees

Page 2300 TITLE 10—ARMED FORCES § 2873 (1) rescind the contract pursuant to the terms of the contract; and (2) prohibit the offending party from enter- ing into a new contract or undertaking expan- sions of other existing contracts, or both, with the Secretary under this subchapter. (Added Pub. L. 116–92, div. B, title XXX, § 3033(a), Dec. 20, 2019, 133 Stat. 1936.) § 2873. Direct loans and loan guarantees (a) DIRECT LOANS.—(1) Subject to subsection (c), the Secretary concerned may make direct loans to an eligible entity in order to provide funds to the eligible entity for the acquisition or construction of housing units that the Secretary determines are suitable for use as military fam- ily housing or as military unaccompanied hous- ing. (2) The Secretary concerned shall establish such terms and conditions with respect to loans made under this subsection as the Secretary considers appropriate to protect the interests of the United States, including the period and fre- quency for repayment of such loans and the obli- gations of the obligors on such loans upon de- fault. (b) LOAN GUARANTEES.—(1) Subject to sub- section (c), the Secretary concerned may guar- antee a loan made to an eligible entity if the proceeds of the loan are to be used by the eligi- ble entity to acquire, or construct housing units that the Secretary determines are suitable for use as military family housing or as military unaccompanied housing. (2) The amount of a guarantee on a loan that may be provided under paragraph (1) may not exceed the amount equal to the lesser of— (A) the amount equal to 80 percent of the value of the project; or (B) the amount of the outstanding principal of the loan. (3) The Secretary concerned shall establish such terms and conditions with res

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

2 U.S.C. § 661a — Definitions

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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