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Title 15 — Commerce and TradeRelease 119-73

§694c Revolving fund for surety bond guarantees

Title 15 › Chapter CHAPTER 14B— - SMALL BUSINESS INVESTMENT PROGRAM › Subchapter SUBCHAPTER IV–A— - GUARANTEES › Part Part B— - Surety Bond Guarantees › § 694c

Last updated Apr 6, 2026|Official source

Summary

Creates a separate revolving fund in the Treasury that the Administrator can use forever for these guarantee programs. All money, property, or assets the Administrator gets from running the programs must go into that fund. Payments and expenses from those program operations must be paid from the fund, except for administrative costs. Any money Congress puts into the fund to run the programs also does not expire at the end of a fiscal year.

Full Legal Text

Title 15, §694c

Commerce and Trade — Source: USLM XML via OLRC

(a)There is created within the Treasury a separate fund for guarantees which shall be available to the Administrator without fiscal year limitation as a revolving fund for the purposes of this part. All amounts received by the Administrator, including any moneys, property, or assets derived by him from his operations in connection with this part, shall be deposited in the fund. All expenses and payments, excluding administrative expenses, pursuant to operations of the Administrator under this part shall be paid from the fund.
(b)Such sums as may be appropriated to the Fund to carry out the programs authorized by this part shall be without fiscal year limitation.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

1988—Pub. L. 100–590 designated existing provisions as subsec. (a) and added subsec. (b). 1980—Pub. L. 96–302 repealed investment of idle funds provision, which is covered in section 694–2 of this title. 1977—Pub. L. 95–89 prohibited payment of administrative expenses from the fund and deleted provisions which authorized: a $110,000,000 appropriation of capital for the fund; and payment during the fiscal year into the Treasury as miscellaneous receipts, from the fund, of interest on the cumulative amount of appropriations available as capital to the fund less the average undisbursed cash balance in the fund during the year. Pub. L. 95–14 substituted “$110,000,000” for “$56,500,000”. 1976—Pub. L. 94–305 substituted “$56,500,000” for “$35,000,000”.

Statutory Notes and Related Subsidiaries

Effective Date

of 1988 AmendmentAmendment by Pub. L. 100–590 effective on expiration of 180 days after Nov. 3, 1988, see section 209 of Pub. L. 100–590, set out as an Effective and Termination Dates of 1988 Amendment note under section 694b of this title.

Effective Date

of 1980 AmendmentAmendment by Pub. L. 96–302 effective Oct. 1, 1980, see section 507 of Pub. L. 96–302, set out as a note under section 631 of this title.

Effective Date

of 1977 AmendmentAmendment by Pub. L. 95–89 effective Oct. 1, 1977, see section 106 of Pub. L. 95–89, set out as a note under section 633 of this title.

Reference

Citations & Metadata

Citation

15 U.S.C. § 694c

Title 15 — Commerce and Trade

Last Updated

Apr 6, 2026

Release point: 119-73