§4017 — Title 20 Education | U.S. Code

Summary

Anyone who gets a loan or grant from the program must let the U.S. government sue people who owe money for the costs of the work paid for under the program. If the United States or the recipient wins money in court, those funds must be used to repay the United States by putting them into the Asbestos Trust Fund. The repayment must cover the loan balance and any grant amounts, plus interest equal to what a commercial lender would have charged at normal rates (set by the Administrator), as far as the recovered money will go. The Attorney General must act quickly to try to recover the amounts the U.S. spent from the people the Attorney General finds liable.

Title 20, §4017

Education — Source: USLM XML via OLRC

(a)(1)As a condition of the award of any financial assistance under section 4014 of this title, the recipient of any such loan or grant shall permit the United States to sue on behalf of such recipient any person determined by the Attorney General to be liable to the recipient for the costs of any activities undertaken by the recipient under such section.

(2)The proceeds from any judgment recovered in any suit brought by the United States under paragraph (1) (or, if the recipient files a similar suit on its own behalf, the proceeds from a judgment recovered by the recipient in such suit) shall be used to repay to the United States, by deposit in the Asbestos Trust Fund established by section 4022 of this title, to the extent that the proceeds are sufficient to provide for such repayment, an amount equal to the sum of—

(A)the amount (i) outstanding on any loan and (ii) of any grant made to the recipient; and

(B)an amount equal to the interest which would have been charged on such loan were the loan made by a commercial lender at prevailing interest rates (as determined by the Administrator).

(b)The Attorney General shall, where appropriate, proceed in an expeditious manner to recover the amounts expended by the United States to carry out this subchapter from the persons identified by the Attorney General as being liable for such costs.

Notes & Related Subsidiaries

Editorial Notes

Amendments

1990—Pub. L. 101–637, § 14(a)(8), inserted section catchline. Subsec. (a). Pub. L. 101–637, § 14(b)(10), inserted heading. Subsec. (a)(1). Pub. L. 101–637, § 14(c)(5), substituted “section” for “sections” after “such”. Subsec. (a)(2). Pub. L. 101–637, § 9, inserted “by deposit in the Asbestos Trust Fund established by section 4022 of this title,” after “repay to the United States,”. Subsec. (b). Pub. L. 101–637, § 14(b)(11), inserted heading.

§4017 Recovery of Costs

Summary

Title 20, §4017

Notes & Related Subsidiaries

Editorial Notes

Amendments

Citations & Metadata