Title 42 — The Public Health and WelfareRelease 119-84

§7402 CESSATION OF FINANCIAL ASSISTANCE AUTHORITY.

Title 42 › Chapter CHAPTER 95— - UNITED STATES SYNTHETIC FUELS CORPORATION › Subchapter SUBCHAPTER X— - TERMINATION OF CORPORATION › § 7402

Last updated Apr 22, 2026|Official source

Summary

Effective April 7, 1986, the United States Synthetic Fuels Corporation must not make any new binding promises of financial help (including changes to existing promises) under the Energy Security Act for synthetic fuel project proposals. Any binding agreements made before that date stay in force, and the Corporation, its Board or Chairman, and project sponsors keep their legal rights and responsibilities to finish those agreements.

Full Legal Text

Title 42, §7402

The Public Health and Welfare — Source: USLM XML via OLRC

“Effective on the date of enactment of this Act [Apr. 7, 1986], the United States Synthetic Fuels Corporation (hereafter in this subtitle referred to as the ‘Corporation’) may not make any legally binding awards or commitments for financial assistance (including any changes in an existing award or commitment) pursuant to the Energy Security Act [Pub. L. 96–294; see Short Title note set out under section 8801 of this title] for synthetic fuel project proposals, except that nothing in this Act [see Tables for classification] shall impair or alter the powers, duties, rights, obligations, privileges, or liabilities of the Corporation, its Board or Chairman, or project sponsors in the performance and completion of the terms and undertakings of a legally binding award or commitment entered into prior to the date of enactment of this Act.

Reference

Citations & Metadata

Citation

42 U.S.C. § 7402

Title 42 — The Public Health and Welfare

Last Updated

Apr 22, 2026

Release point: 119-84