Title 42 — The Public Health and WelfareRelease 119-90

§7402 Cessation of Financial Assistance Authority.

Title 42 › Chapter 95— UNITED STATES SYNTHETIC FUELS CORPORATION › Subchapter X— TERMINATION OF CORPORATION › § 7402

Last updated May 14, 2026|Official source

Summary

As of April 7, 1986, the United States Synthetic Fuels Corporation must not make any new legally binding financial awards or commitments under the Energy Security Act for synthetic fuel project proposals, including changes to existing awards. Nothing here changes the rights, duties, or responsibilities of the Corporation, its Board or Chairman, or project sponsors to carry out and finish awards or commitments that were legally made before April 7, 1986.

Full Legal Text

Title 42, §7402

The Public Health and Welfare — Source: USLM XML via OLRC

“Effective on the date of enactment of this Act [Apr. 7, 1986], the United States Synthetic Fuels Corporation (hereafter in this subtitle referred to as the ‘Corporation’) may not make any legally binding awards or commitments for financial assistance (including any changes in an existing award or commitment) pursuant to the Energy Security Act [Pub. L. 96–294; see Short Title note set out under section 8801 of this title] for synthetic fuel project proposals, except that nothing in this Act [see Tables for classification] shall impair or alter the powers, duties, rights, obligations, privileges, or liabilities of the Corporation, its Board or Chairman, or project sponsors in the performance and completion of the terms and undertakings of a legally binding award or commitment entered into prior to the date of enactment of this Act.

Reference

Citations & Metadata

Citation

42 U.S.C. § 7402

Title 42 — The Public Health and Welfare

Last Updated

May 14, 2026

Release point: 119-90