12 U.S.C. § 2249 — Administrative expenses

Page 1352 TITLE 12—BANKS AND BANKING § 2246 tence, was repealed by Pub. L. 100–399, § 702(b). See Con- struction of 1988 Amendment note below. Pub. L. 100–233, § 431(c), amended section generally, substituting subsecs. (a) to (d) for former text con- sisting of single undesignated paragraph. Subsec. (c)(2)(C). Pub. L. 100–399, § 415(a), substituted ‘‘5373’’ for ‘‘5315’’. 1985—Pub. L. 99–205 substituted provisions respecting organization of the Farm Credit Administration for provisions relating to compensation and expense allow- ance of the Governor of the Farm Credit Administra- tion. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1988 AMENDMENT Amendment by section 415(a) of Pub. L. 100–399 effec- tive as if enacted immediately after enactment of Pub. L. 100–233, which was approved Jan. 6, 1988, see section 1001(a) of Pub. L. 100–399, set out as a note under sec- tion 2002 of this title. EFFECTIVE DATE OF 1985 AMENDMENT Amendment by Pub. L. 99–205 effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as a note under section 2001 of this title. CONSTRUCTION OF 1988 AMENDMENT Pub. L. 100–399, title VII, § 702(b), Aug. 17, 1988, 102 Stat. 1006, provided that section 805(x) of Pub. L. 100–233, cited as a credit to this section, is repealed and that this section shall be applied and administered as if such section had not been enacted. INTERIM IMPLEMENTATION OF 1985 AMENDMENT For provisions authorizing interim implementation by Governor of Farm Credit Administration of amend- ments to this section by Pub. L. 99–205, see section 402 of Pub. L. 99–205, set out as a note under section 2241 of this title. § 2246. Advisory committees The Chairman of the Board, subject to the ap- proval of the Board, may establish one or more advisory committees in accordance with chapter 10 of title 5 and may appoint to such committee or committees individuals who are members of the Federal Farm Credit Board when such Board is terminated by the Farm Credit Amendments Act of 1985. (Pub. L. 92–181, title V, § 5.12, Dec. 10, 1971, 85 Stat. 620; Pub. L. 99–205, title II, § 201(1), Dec. 23, 1985, 99 Stat. 1690; Pub. L. 100–233, title IV, § 431(d), Jan. 6, 1988, 101 Stat. 1660; Pub. L. 117–286, § 4(a)(56), Dec. 27, 2022, 136 Stat. 4311.) Editorial Notes REFERENCES IN TEXT The Farm Credit Amendments Act of 1985, referred to in text, is Pub. L. 99–205, Dec. 23, 1985, 99 Stat. 1678. For complete classification of this Act to the Code, see Short Title of 1985 Amendment note set out under sec- tion 2001 of this title and Tables. AMENDMENTS 2022—Pub. L. 117–286 substituted ‘‘chapter 10 of title 5’’ for ‘‘the Federal Advisory Committee Act’’. 1988—Pub. L. 100–233 inserted ‘‘, subject to the ap- proval of the Board,’’ after ‘‘Chairman of the Board’’. 1985—Pub. L. 99–205 substituted provisions respecting advisory committees for provisions respecting compli- ance by the Governor with orders of the Federal Farm Credit Board. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1985 AMENDMENT Amendment by Pub. L. 99–205 effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as a note under section 2001 of this title. INTERIM IMPLEMENTATION OF 1985 AMENDMENT For provisions authorizing interim implementation by Governor of Farm Credit Administration of amend- ments to this section by Pub. L. 99–205, see section 402 of Pub. L. 99–205, set out as a note under section 2241 of this title. § 2247. Repealed. Pub. L. 99–205, title II, § 201(2), Dec. 23, 1985, 99 Stat. 1690 Section, Pub. L. 92–181, title V, § 5.13, Dec. 10, 1971, 85 Stat. 620, related to authority of Governor of the Farm Credit Administration to fix powers and duties of divi- sions and instrumentalities of the Administration. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF REPEAL Repeal effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as an Effective Date of 1985 Amendment note under section 2001 of this title. § 2248. Seal of the Farm Credit Administration The Farm Credit Administration shall have a seal, as adopted by the Board, which shall be ju- dicially noted. (Pub. L. 92–181, title V, § 5.13, formerly § 5.14, Dec. 10, 1971, 85 Stat. 620; renumbered § 5.13 and amended Pub. L. 99–205, title II, § 201(3), Dec. 23, 1985, 99 Stat. 1690.) Editorial Notes PRIOR PROVISIONS A prior section 5.13 of Pub. L. 92–181 was classified to section 2247 of this title prior to repeal by Pub. L. 99–205, title II, § 201(2), Dec. 23, 1985, 99 Stat. 1690. AMENDMENTS 1985—Pub. L. 99–205 substituted ‘‘Board’’ for ‘‘Gov- ernor’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1985 AMENDMENT Amendment by Pub. L. 99–205 effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as a note under section 2001 of this title. § 2249. Administrative expenses The Farm Credit Administration may, within the limits of funds available therefor, make nec- essary expenditures for personnel services and rent at the seat of Government and elsewhere; contract stenographic reporting services; pur- chase and exchange lawbooks, books of ref- erence, periodicals, newspapers, expenses of at- tendance at meetings and conferences; purchase, operation, and maintenance at the seat of Gov- ernment and elsewhere of motor-propelled pas- senger-carrying vehicles and other vehicles; printing and binding; and for such other facili- ties and services, including temporary employ- ment by contract or otherwise, as it may from time to time find necessary for the proper ad- Page 1353 TITLE 12—BANKS AND BANKING § 2250 ministration of this chapter. The Farm Credit Administration may dispose of property so ac- quired and any amounts collected from the dis- position of such property shall be deposited in the special fund provided for in section 2250(b) of this title and shall be available to the Adminis- tration in the same manner and for the same purposes as the funds collected under section 2250(a) of this title. (Pub. L. 92–181, title V, § 5.14, formerly § 5.15, Dec. 10, 1971, 85 Stat. 620; Pub. L. 96–592, title V, § 505, Dec. 24, 1980, 94 Stat. 3449; renumbered § 5.14 and amended Pub. L. 99–205, title II, § 201(4), Dec. 23, 1985, 99 Stat. 1690.) Editorial Notes PRIOR PROVISIONS A prior section 5.14 of Pub. L. 92–181 was renumbered section 5.13 and is classified to section 2248 of this title. AMENDMENTS 1985—Pub. L. 99–205 made technical amendments to the references to sections 2250(b) and 2250(a) of this title appearing in second sentence to reflect the renum- bering of the corresponding section of the original act. 1980—Pub. L. 96–592 inserted provisions relating to disposal of property and deposit of amounts from such disposal. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1985 AMENDMENT Amendment by Pub. L. 99–205 effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as a note under section 2001 of this title. § 2250. Farm Credit Administration operating ex- penses fund (a) Determinations required (1) Generally Prior to the first day of each fiscal year, the Farm Credit Administration shall determine— (A) the cost of administering this chapter for the subsequent fiscal year, including ex- penses for official functions; (B) the amount of assessments that will be required to pay such administrative ex- penses, taking into consideration the funds contained in the Administrative Expense Ac- count, and maintain a necessary reserve; and (C) the amount of assessments that will be required to pay the costs of supervising and examining the Mortgage Corporation estab- lished under subchapter VIII. (2) Apportionments On the basis of the determinations made under paragraph (1), the Farm Credit Adminis- tration shall— (A) apportion the amount of the assess- ment described in paragraph (1)(B) among the System institutions on a basis that is determined to be equitable by the Farm Credit Administration; (B) assess and collect such apportioned amounts from time to time during the fiscal year as determined necessary by the Farm Credit Administration; and (C) assess and collect from the Mortgage Corporation, from time to time during the fiscal year, the amount described in para- graph (1)(C). (b) Deposits into fund (1) Treasury fund The amounts collected under subsection (a) shall be deposited in the Farm Credit Adminis- tration Administrative Expense Account. The Expense Account shall be maintained in the Treasury of the United States and shall be available, without regard, for purposes of se- questration, to the Balanced Budget and Emergency Deficit Control Act of 1985 [2 U.S.C. 900 et seq.], to pay the expenses of the Farm Credit Administration. (2) Nongovernment funds The funds contained in the Expense Account shall not be construed to be Federal Govern- ment funds or appropriated moneys. (3) Investment (A) Authority On request of the Farm Credit Administra- tion, the Secretary of the Treasury shall in- vest and reinvest such amounts contained in the Expense Account as, in the determina- tion of the Farm Credit Administration, are in excess of the amounts necessary for cur- rent expenses of the Farm Credit Adminis- tration. (B) Returns All income earned from such investments and reinvestments shall be deposited in the Expense Account. (C) Type Such investments shall be made in public debt securities with maturities suitable to the needs of the Expense Account, as deter- mined by the Farm Credit Administration, and bearing interest at rates determined by the Secretary of the Treasury, taking into consideration current market yields on out- standing marketable obligations of the United States of comparable maturities. (Pub. L. 92–181, title V, § 5.15, formerly § 5.16, Dec. 10, 1971, 85 Stat. 620; renumbered § 5.15 and amended Pub. L. 99–205, title II, §§ 201(5), 205(g)(6), Dec. 23, 1985, 99 Stat. 1690, 1707; Pub. L. 100–233, title IV, § 432(a), Jan. 6, 1988, 101 Stat. 1660; Pub. L. 100–399, title IV, § 416(a), (b), Aug. 17, 1988, 102 Stat. 1004; Pub. L. 102–552, title V, § 510, Oct. 28, 1992, 106 Stat. 4132.) Editorial Notes REFERENCES IN TEXT The Balanced Budget and Emergency Deficit Control Act of 1985, referred to in subsec. (b)(1), is title II of Pub. L. 99–177, Dec. 12, 1985, 99 Stat. 1038, which enacted chapter 20 (§ 900 et seq.) and sections 654 to 656 of Title 2, The Congress, amended sections 602, 622, 631 to 642, and 651 to 653 of Title 2, sections 1104 to 1106, and 1109 of Title 31, Money and Finance, and section 911 of Title 42, The Public Health and Welfare, repealed section 661 of Title 2, enacted provisions set out as notes under section 900 of Title 2 and section 911 of Title 42, and amended provisions set out as a note under section 621 of Title 2. For complete classification of this Act to the Code, see Short Title note set out under section 900 of Title 2 and Tables.