§6702 — Title 31 Money and Finance | U.S. Code

Summary

Creates a Local Government Fiscal Assistance Fund in the Department of the Treasury to hold money Congress provides. Congress set the amounts to go into the Fund: $270,000,000 for fiscal year 1996; $283,500,000 for fiscal year 1997; and $355,500,000 for each of fiscal years 1998, 1999, and 2000. For fiscal years 1995 through 2000, up to 2.5 percent of those authorized amounts may be used by the Secretary for administrative costs. Those administrative funds stay available until they are spent.

Title 31, §6702

Money and Finance — Source: USLM XML via OLRC

(a)The Department of the Treasury has a Local Government Fiscal Assistance Fund, which consists of amounts appropriated to the Fund.

(b)There are authorized to be appropriated to the Fund—

(1)$270,000,000 for fiscal year 1996;

(2)$283,500,000 for fiscal year 1997;

(3)$355,500,000 for fiscal year 1998;

(4)$355,500,000 for fiscal year 1999; and

(5)$355,500,000 for fiscal year 2000.

(c)Up to 2.5 percent of the amount authorized to be appropriated under subsection (b) is authorized to be appropriated for the period fiscal year 1995 through fiscal year 2000 to be available for administrative costs by the Secretary in furtherance of the purposes of the program. Such sums are to remain available until expended.

Notes & Related Subsidiaries

Editorial Notes

Prior Provisions

A prior section 6702, Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 1012, related to payments to governments, prior to repeal by Pub. L. 99–272, title XIV, § 14001(a)(1), (e), Apr. 7, 1986, 100 Stat. 327, 329, eff. Oct. 18, 1986.

Statutory Notes and Related Subsidiaries

Deficit Neutrality Pub. L. 103–322, title III, § 31001(c), Sept. 13, 1994, 108 Stat. 1881, provided that: “Any appropriation to carry out the amendment made by this subtitle [subtitle J (§§ 31001, 31002) of title III of Pub. L. 103–322, enacting this chapter] to title 31, United States Code, for fiscal year 1995 or 1996 shall be offset by cuts elsewhere in appropriations for that fiscal year.”

§6702 Local Government Fiscal Assistance Fund