§9104 — Title 31 Money and Finance | U.S. Code

Summary

Congress must review budgets the President sends for wholly owned Government corporations. Congress must provide any authorized appropriations, allow corporate funds to pay operating costs, and arrange repayment of capital and payment of dividends. It does not stop activities allowed by other laws, does not affect section 26 of the Tennessee Valley Authority Act of 1933 (16 U.S.C. 831y), and does not limit a corporation’s authority to make commitments not tied to a fiscal year.

Title 31, §9104

Money and Finance — Source: USLM XML via OLRC

(a)Congress shall—

(1)consider budget programs for wholly owned Government corporations the President submits;

(2)make necessary appropriations authorized by law;

(3)make corporate financial resources available for operating and administrative expenses; and

(4)provide for repaying capital and the payment of dividends.

(b)This section does not—

(1)prevent a wholly owned Government corporation from carrying out or financing its activities as authorized under another law;

(2)affect section 26 of the Tennessee Valley Authority Act of 1933 (16 U.S.C. 831y); or

(3)affect the authority of a wholly owned Government corporation to make a commitment without fiscal year limitation.

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 9104(a)31:849(1st sentence).Dec. 6, 1945, ch. 557, § 104, 59 Stat. 598; restated July 30, 1947, ch. 358, § 307, 61 Stat. 584. 9104(b)31:849(2d, last sentences). In subsection (a), the words “budget programs for wholly owned Government corporations” are substituted for “Budget programs” for clarity and consistency. The words “legislation . . . be enacted”, “as may be”, “for expenditure”, “corporate funds or other”, “or limiting the use thereof”, “as the Congress may determine”, and “funds” are omitted as surplus. In subsection (b), the word “existing” is omitted as surplus. In clause (1), the word “another” is added for clarity. In clause (3), the words “contracts or other” and “reference to” are omitted as surplus.

§9104 Congressional Action on Budgets of Wholly Owned Government Corporations

Summary

Title 31, §9104

Notes & Related Subsidiaries

Historical and Revision Notes

Citations & Metadata