Title 2 — The CongressRelease 119-73not60
§661f Effect on Other Laws
Title 2 › Chapter 17A— CONGRESSIONAL BUDGET AND FISCAL OPERATIONS › Subchapter III— CREDIT REFORM › § 661f
Summary
Overrides laws passed before November 5, 1990 that conflict and does not limit credit for federal loan or guarantee programs. Collections from direct loans or guarantees committed before October 1, 1991 must go to agency liquidating accounts, be used as before November 5, 1990 (including payments to the Treasury or Federal Financing Bank), and excess balances must be transferred to the Treasury’s general fund at least once a year.
Full Legal Text
Title 2, §661f
The Congress — Source: USLM XML via OLRC
(a)This subchapter shall supersede, modify, or repeal any provision of law enacted prior to November 5, 1990, to the extent such provision is inconsistent with this subchapter. Nothing in this subchapter shall be construed to establish a credit limitation on any Federal loan or loan guarantee program.
(b)Collections resulting from direct loans obligated or loan guarantees committed prior to October 1, 1991, shall be credited to the liquidating accounts of Federal agencies. Amounts so credited shall be available, to the same extent that they were available prior to November 5, 1990, to liquidate obligations arising from such direct loans obligated or loan guarantees committed prior to October 1, 1991, including repayment of any obligations held by the Secretary of the Treasury or the Federal Financing Bank. The unobligated balances of such accounts that are in excess of current needs shall be transferred to the general fund of the Treasury. Such transfers shall be made from time to time but, at least once each year.
Reference
Citations & Metadata
Citation
2 U.S.C. § 661f
Title 2 — The Congress
Last Updated
Apr 3, 2026
Release point: 119-73not60