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Title 38 — Veterans' BenefitsRelease 119-73not60

§3749 Revolving Fund

Title 38 › Part III— READJUSTMENT AND RELATED BENEFITS › Chapter 37— HOUSING AND SMALL BUSINESS LOANS › Subchapter IV— SMALL BUSINESS LOANS › § 3749

Last updated Apr 5, 2026|Official source

Summary

Creates a Treasury revolving account called the Department of Veterans Affairs Small Business Loan Revolving Fund. The Secretary may use it, with no fiscal‑year limit, only for loan guaranty and direct loan activities under this subchapter and not for administrative costs. Up to $25,000,000 may be appropriated. All loan repayments, interest, and proceeds from loan‑related property must be deposited into the fund. Each year the Secretary must send any surplus immediately to the Treasury general fund. Within two years after authority to make new loan commitments ends, the Secretary must transfer remaining amounts (except what is needed to finish paying obligations) to the general fund; later loan receipts must also go to the general fund except amounts needed to liquidate outstanding obligations.

Full Legal Text

Title 38, §3749

Veterans' Benefits — Source: USLM XML via OLRC

(a)There is established in the Treasury a revolving fund to be known as the “Department of Veterans Affairs Small Business Loan Revolving Fund” (hereinafter in this section referred to as the “fund”).
(b)Amounts in the fund shall be available to the Secretary without fiscal year limitation for all loan guaranty and direct loan operations under this subchapter other than administrative expenses and may not be used for any other purpose.
(c)(1)There is authorized to be appropriated to the fund a total of $25,000,000.
(2)There shall be deposited into the fund all amounts received by the Secretary derived from loan operations under this subchapter, including all collection of principal and interest and the proceeds from the use of property held or of property sold.
(d)The Secretary shall determine annually whether there has developed in the fund a surplus which, in the Secretary’s judgment, is more than necessary to meet the needs of the fund. Any such surplus shall immediately be transferred into the general fund of the Treasury.
(e)Not later than two years after the termination of the authority of the Secretary to make new commitments for financial assistance under this subchapter, the Secretary shall transfer into the general fund of the Treasury all amounts in the fund except those that the Secretary determines may be required for the liquidation of obligations under this subchapter. All amounts received thereafter derived from loan operations under this subchapter, except so much thereof as the Secretary may determine to be necessary for liquidating outstanding obligations under this subchapter, shall also be so deposited.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

1991—Pub. L. 102–83, § 5(a), renumbered section 1849 of this title as this section. Subsec. (a). Pub. L. 102–83, § 4(a)(2)(B)(v), substituted “Department of Veterans Affairs” for “Veterans’ Administration”. 1989—Subsecs. (b) to (e). Pub. L. 101–237 substituted “Secretary” and “Secretary’s” for “Administrator” and “Administrator’s”, respectively, wherever appearing. 1986—Subsec. (c)(1). Pub. L. 99–576 substituted “There” for “Effective for fiscal year 1982 and fiscal years thereafter, there”.

Reference

Citations & Metadata

Citation

38 U.S.C. § 3749

Title 38 — Veterans' Benefits

Last Updated

Apr 5, 2026

Release point: 119-73not60