Title 42 — The Public Health and WelfareRelease 119-102not101
§7402 Cessation of Financial Assistance Authority.
Title 42 › Chapter 95— UNITED STATES SYNTHETIC FUELS CORPORATION › Subchapter X— TERMINATION OF CORPORATION › § 7402
Summary
On April 7, 1986, the United States Synthetic Fuels Corporation cannot make any new legally binding financial awards or commitments under the Energy Security Act for synthetic fuel projects. The law does not change or cancel the rights, duties, or obligations of the Corporation, its Board or Chairman, or project sponsors for agreements made before that date; those existing agreements must still be carried out and completed.
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
Jul 16, 2026
Release point: 119-102not101