12 U.S.C. § 4718 — Authorization of appropriations

Page 1747 TITLE 12—BANKS AND BANKING § 4719 1 See References in Text note below. § 4717. Enforcement (a) Regulations (1) In general Not later than 180 days after the appoint- ment and qualification of the Administrator, the Fund shall promulgate such regulations as may be necessary to carry out this subchapter. (2) Regulations required The regulations promulgated under para- graph (1) shall include regulations applicable to community development financial institu- tions that are not insured depository institu- tions to— (A) prevent conflicts of interest on the part of directors, officers, and employees of community development financial institu- tions as the Fund determines to be appro- priate; and (B) establish such standards with respect to loans by a community development finan- cial institution to any director, officer, or employee of such institution as the Fund de- termines to be appropriate, including loan amount limitations. (b) Administrative enforcement The provisions of this subchapter, and regula- tions prescribed and agreements entered into under this subchapter, shall be enforced under section 8 of the Federal Deposit Insurance Act [12 U.S.C. 1818] by the appropriate Federal bank- ing agency, in the case of an insured community development financial institution. A violation of this subchapter, or any regulation prescribed under or any agreement entered into under this subchapter, shall be treated as a violation of the Federal Deposit Insurance Act [12 U.S.C. 1811 et seq.]. (Pub. L. 103–325, title I, § 119, Sept. 23, 1994, 108 Stat. 2188.) Editorial Notes REFERENCES IN TEXT The Federal Deposit Insurance Act, referred to in subsec. (b), is act Sept. 21, 1950, ch. 967, § 2, 64 Stat. 873, which is classified generally to chapter 16 (§ 1811 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 1811 of this title and Tables. CODIFICATION Section is comprised of section 119 of Pub. L. 103–325. Subsec. (c) of section 119 of Pub. L. 103–325 amended section 657 of Title 18, Crimes and Criminal Procedure. § 4718. Authorization of appropriations (a) Fund authorization (1) In general To carry out this subchapter, there are au- thorized to be appropriated to the Fund, to re- main available until expended— (A) $60,000,000 for fiscal year 1995; (B) $104,000,000 for fiscal year 1996; (C) $107,000,000 for fiscal year 1997; and (D) $111,000,000 for fiscal year 1998; or such greater sums as may be necessary to carry out this subchapter. (2) Administrative expenses (A) In general Of amounts authorized to be appropriated to the Fund pursuant to this section, not more than $5,550,000 may be used by the Fund in each fiscal year to pay the adminis- trative costs and expenses of the Fund. Costs associated with the training program estab- lished under section 4708 of this title and the technical assistance program established under section 4707 of this title shall not be considered to be administrative expenses for purposes of this paragraph. (B) Calculations The amounts referred to in paragraphs (3) and (4) shall be calculated after subtracting the amount referred to in subparagraph (A) of this paragraph from the total amount ap- propriated to the Fund in accordance with paragraph (1) in any fiscal year. (3) Capitalization assistance Not more than 5 percent of the amounts au- thorized to be appropriated under paragraph (1) may be used as provided in section 4712 of this title. (4) Availability for funding section 4713 of this title 331⁄3 percent of the amounts appropriated to the Fund for any fiscal year pursuant to the authorization in paragraph (1) shall be avail- able for use in carrying out section 4713 of this title. (5) Support of community development finan- cial institutions The Administrator shall allocate funds au- thorized under this section, to the maximum extent practicable, for the support of commu- nity development financial institutions. (b) Community Development Credit Union Re- volving Loan Fund There are authorized to be appropriated for the purposes of the Community Development Credit Union Revolving Loan Fund— (1) $4,000,000 for fiscal year 1995; (2) $2,000,000 for fiscal year 1996; (3) $2,000,000 for fiscal year 1997; and (4) $2,000,000 for fiscal year 1998. (c) Budgetary treatment Amounts authorized to be appropriated under this section shall be subject to discretionary spending caps, as provided in section 665 1 of title 2, and therefore shall reduce by an equal amount funds made available for other discretionary spending programs. (Pub. L. 103–325, title I, § 121, Sept. 23, 1994, 108 Stat. 2189.) Editorial Notes REFERENCES IN TEXT Section 665 of title 2, referred to in subsec. (c), was re- pealed by Pub. L. 105–33, title X, § 10118(a), Aug. 5, 1997, 111 Stat. 695. § 4719. Grants to establish loan-loss reserve funds (a) Purposes The purposes of this section are—