15 U.S.C. § 9061: Direct appropriation

Summary

The law sets aside $500,000,000,000 from Treasury funds that were not already allocated and puts that money into the fund under 31 U.S.C. 5302(a)(1) to carry out this part. Starting January 1, 2021, any leftover money that came from section 9042(b) can only be used to change or restructure loans or investments as allowed under section 9063(b)(1), to exercise options or warrants made before January 1, 2021, or to pay costs and administrative expenses under section 9042(f). If any of those funds remain on January 1, 2026, they must be moved to the Treasury’s general fund to help reduce the federal deficit.

Title 15, §9061

Commerce and Trade, Source: USLM XML via OLRC

(a)In general

Notwithstanding any other provision of law, there is appropriated, out of amounts in the Treasury not otherwise appropriated, to the fund established under section 5302(a)(1) of title 31, $500,000,000,000 to carry out this part.

(b)Omitted

(c)Clarification

(1)In general

On or after January 1, 2021, any remaining funds made available under section 9042(b) of this title may be used only for— (A)

(B)exercising any options, warrants, or other investments made prior to January 1, 2021; and

(C)paying costs and administrative expenses as provided in section 9042(f) of this title.

(2)Deficit reduction

On January 1, 2026, any funds described in paragraph (1) that are remaining shall be transferred to the general fund of the Treasury to be used for deficit reduction.

Notes & Related Subsidiaries

Editorial Notes

References in Text

This part, referred to in subsec. (a), was in the original “this subtitle”, meaning subtitle A (§§ 4001–4029) of title IV of div. A of Pub. L. 116–136, known as the Coronavirus Economic Stabilization Act of 2020, which is classified principally to this part. For complete classification of subtitle A to the Code, see section 4001 of Pub. L. 116–136, set out as a

Short Title

note under section 9001 of this title, and Tables. Codification Section is comprised of section 4027 of Pub. L. 116–136. Subsec. (b) of section 4027 of Pub. L. 116–136 amended section 5302 of Title 31, Money and Finance.

§9061 Direct Appropriation