§9061 — Title 15 Commerce and Trade | U.S. Code

Summary

The law provides $500,000,000,000 from money in the Treasury to the fund set up under section 5302(a)(1) of title 31 to carry out this part. Starting January 1, 2021, any leftover money from amounts made available under section 9042(b) can only be used for three things: changing or restructuring loans or investments under section 9063(b)(1); exercising options, warrants, or other investments made before January 1, 2021; and paying costs and administrative expenses under section 9042(f). Any of those funds still left on January 1, 2026 must be sent to the Treasury’s general fund to reduce the deficit.

Title 15, §9061

Commerce and Trade — Source: USLM XML via OLRC

(a)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)

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

(A)modifications, restructurings, or other amendments of loans, loan guarantees, or other investments in accordance with section 9063(b)(1) of this title; and

(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)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