§8821 — Title 42 The Public Health and Welfare | U.S. Code

Summary

No new insured loans, loan guarantees, price guarantees, or purchase agreements under this subchapter can be made after September 30, 1984. Conditional commitments for loan guarantees that existed on that date are extended through June 30, 1987. The relevant Secretary may still spend money under contracts made on or before that date. The Secretary of Energy may change the terms or the amount of any conditional loan guarantee made before October 1, 1984. Nothing here should be read as Congress approving any pending conditional commitments.

Title 42, §8821

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

No insured loan, loan guarantee, price guarantee, or purchase agreement may be committed to or made under this subchapter after September 30, 1984, except that all conditional commitments for loan guarantees under this subchapter which were in existence on September 30, 1984, are hereby extended through June 30, 1987. This section shall not be construed to affect the authority of the Secretary concerned to spend funds after such date pursuant to any contract for financial assistance made on or before that date under this subchapter. Notwithstanding any other provision of this subchapter, the Secretary of Energy may modify the terms and conditions of any conditional commitment for a loan guarantee under this subchapter made before October 1, 1984, including the amount of the loan guarantee. Nothing in this section shall be interpreted as indicating Congressional approval with respect to any pending conditional commitments under this Act.

Notes & Related Subsidiaries

Editorial Notes

References in Text

This Act, referred to in text, is Pub. L. 96–294, June 30, 1980, 94 Stat. 611, known as the Energy Security Act. For complete classification of this Act to the Code, see

Short Title

note set out under section 8801 of this title and Tables. Codification Pub. L. 99–591 is a corrected version of Pub. L. 99–500. Amendment of section by Pub. L. 99–190 is based on section 630 of title VI of H.R. 3037 [Agriculture, Rural Development, and Related Agencies Appropriations Act, 1986], as incorporated by reference by section 101(a) of Pub. L. 99–190, and enacted into law by section 106 of Pub. L. 100–202.

Amendments

1987—For amendment by Pub. L. 100–202, see 1985 Amendment note below. 1986—Pub. L. 99–500 and Pub. L. 99–591 substituted “through

June 30, 1987” for “through

June 30, 1986”. Pub. L. 99–272 made amendment substantially identical to that by Pub. L. 99–190, substituting “through

June 30, 1986” for “through

September 30, 1985” and inserting provisions authorizing the Secretary of Energy to modify the terms and conditions of any conditional commitment for a loan guarantee under this subchapter made before Oct. 1, 1984, including the amount of the guarantee, and further providing that nothing in this section shall be interpreted as indicating Congressional approval with respect to any pending conditional commitments. 1985—Pub. L. 99–190, § 101(a), as enacted by Pub. L. 100–202, substituted “through

June 30, 1986” for “through

September 30, 1985” and inserted provisions authorizing the Secretary of Energy to modify the terms and conditions of any conditional commitment for a loan guarantee under this subchapter made before Oct. 1, 1984, including the amount of the guarantee, and further providing that nothing in this section shall be interpreted as indicating Congressional approval with respect to any pending conditional commitments. See Codification note above. Pub. L. 99–24 inserted “, except that all conditional commitments for loan guarantees under this subchapter which were in existence on

September 30, 1984, are hereby extended through

September 30, 1985”.

Statutory Notes and Related Subsidiaries

Effective Date

of 1985 Amendment Pub. L. 100–202, § 106, Dec. 22, 1987, 101 Stat. 1329–434, provided that the amendment made by that section is effective on date of enactment [Dec. 19, 1985] of the “pertinent joint resolution” making continuing appropriations for fiscal year 1986 [Pub. L. 99–190]. Pending Conditional Commitments Pub. L. 99–24, § 1(b), Apr. 16, 1985, 99 Stat. 50, provided that: “Enactment of this Act [amending this section] shall not be interpreted as indicating congressional approval with respect to any pending conditional commitments under this Act.”

§8821 Termination of authorities; modification of terms and conditions of conditional commitments for loan guarantees