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10 U.S.C. § 7555 — ARMS Initiative loan guarantee program

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

10 U.S.C. § 7555 — ARMS Initiative loan guarantee program

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Stable record: federal_law:legal_authorities:usc2024-f255a5b60ee16be6ba2b3082
Source file: Laws/federal/codes/united-states-code-2024/title-10/section-7555-arms-initiative-loan-guarantee-program--6539a81bf0.md
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Source location: USCODE-2024-title10-subtitleB-partIV-chap764-sec7555.pdf

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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. L. 115–232, div. A, title VIII, § 809(b)(9), Aug. 13, 2018, 132 Stat. 1841; Pub. L. 117–81, div. A, title III, § 374, Dec. 27, 2021, 135 Stat. 1667, provided that: ‘‘Contracts or subcontracts entered into pursuant to section 7554(a)(3)(A) of title 10, United States Code, on or before November 25, 2025, may in- clude an option to extend the term of the contract or subcontract for an additional 25 years.’’ § 7555. ARMS Initiative loan guarantee program (a) PROGRAM AUTHORIZED.—Subject to sub- section (b), the Secretary may carry out a loan guarantee program to encourage commercial firms to use eligible facilities under this chap- ter. 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 guar- antees 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 Fed- eral Credit Reform Act of 1990 (2 U.S.C. 661c). (c) PROGRAM ADMINISTRATION.—(1) The Sec- retary may enter into an agreement with any of the officials named in paragraph (2) under which that official may, for the purposes of this sec- tion— (A) process applications for loan guarantees; (B) guarantee repayment of loans; and (C) provide any other services to the Sec- retary to administer the loan guarantee pro- gram. (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 Devel- opment Administration. (3) Each official authorized to do so under an agreement entered into under paragraph (1) may guarantee loans under this section to commer- cial firms of any size, notwithstanding any limi- tations 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 bor- rower; 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. (Added Pub. L. 106–398, § 1 [[div. A], title III, § 344(a)(1)], Oct. 30, 2000, 114 Stat. 1654, 1654A–70, § 4555; renumbered § 7555, Pub. L. 115–232, div. A, title VIII, § 808(d), Aug. 13, 2018, 132 Stat. 1839.) Editorial Notes AMENDMENTS 2018—Pub. L. 115–232 renumbered section 4555 of this title as this section. Statutory Notes and Related Subsidiaries 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. CHAPTER 765—ISSUE OF SERVICEABLE MATERIAL TO ARMED FORCES Sec. 7561. Rations. 7562. Clothing. 7563. Clothing: replacement when destroyed to pre- vent contagion.

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

10 U.S.C. § 7555 — ARMS Initiative loan guarantee program

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

2 U.S.C. § 661c — 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 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

2 U.S.C. § 661c — Budgetary treatment

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

Stored review status: historical_2024_not_currentness_verified. The source passage cites 2 U.S.C. § 661c. This identifies an authority to review, not proof of applicability.