Title 46, ShippingRelease 119-110
§53717 Management of Funds in the Treasury
Title 46 › Subtitle V — Merchant Marine › Part C — Financial Assistance Programs › CHAPTER 537 — LOANS AND GUARANTEES › SUBCHAPTER I — GENERAL › § 53717
Summary
Requires the Administrator and the Secretary to record payments and disbursements for ship-financing guarantees and loans in specific Treasury accounts. FCRA = the Federal Credit Reform Act of 1990 (2 U.S.C. 661 et seq.). The Administrator must use the Federal Ship Financing Fund Liquidating Account for guarantees not covered by FCRA and the Federal Ship Financing Guaranteed Loan Financing Account for guarantees covered by FCRA. The Secretary must use separate Treasury accounts set up for guaranteed obligations and for direct loans.
Full Legal Text
Title 46, §53717
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(a)Definition.—
In this section, the term “FCRA” means the Federal Credit Reform Act of 1990 (2 U.S.C. 661 et seq.).
(b)Loan Guarantees by Administrator.— (c) Loan Guarantees by Secretary.—
(1)When not subject to fcra.—
The Administrator shall account for payments and disbursements involving obligations guaranteed under this chapter and not subject to FCRA in an account in the Treasury entitled the Federal Ship Financing Fund Liquidating Account (a liquidating account as defined in FCRA).
(2)When subject to fcra.—
The Administrator shall account for payments and disbursements involving obligations guaranteed under this chapter and subject to FCRA in a separate account in the Treasury entitled the Federal Ship Financing Guaranteed Loan Financing Account (a financing account as defined in FCRA).
(d)Direct Loans by Secretary.—
The Secretary shall account for payments and disbursements involving direct loans made under this chapter in a separate account in the Treasury established for this purpose.
Legislative History
Notes & Related Subsidiaries
Historical and Revision Notes
Revised SectionSource (U.S. Code)Source (Statutes at Large) 5371746 App.:1272.June 29, 1936, ch. 858, title XI, § 1102, as added June 23, 1938, ch. 600, § 46, 52 Stat. 969; Sept. 3, 1954, ch. 1265, § 2, 68 Stat. 1268; Pub. L. 86–123, § 1(2), July 31, 1959, 73 Stat. 269; Pub. L. 92–507, § 2, Oct. 19, 1972, 86 Stat. 910; Pub. L. 97–31, § 12(136), Aug. 6, 1981, 95 Stat. 166. 46 App.:1274(g).June 29, 1936, ch. 858, title XI, § 1104A(g) [§ 1104A formerly § 1104], as added June 23, 1938, ch. 600, § 46, 52 Stat. 970; Aug. 4, 1939, ch. 417, § 14, 53 Stat. 1187; Sept. 28, 1950, ch. 1093, § 4, 64 Stat. 1078; Aug. 15, 1953, ch. 513, § 2, 67 Stat. 626; Sept. 3, 1954, ch. 1265, § 4, 68 Stat. 1269; Pub. L. 86–123, §§ 1(3), 2, July 31, 1959, 73 Stat. 269, 271; Pub. L. 86–127, § 1(3), (4), July 31, 1959, 73 Stat. 273; Pub. L. 86–518, § 1, June 12, 1960, 74 Stat. 216; Pub. L. 86–685, §§ 2, 3, Sept. 2, 1960, 74 Stat. 733; Pub. L. 90–341, June 15, 1968, 82 Stat. 180; Pub. L. 91–469, §§ 31, 32, Oct. 21, 1970, 84 Stat. 1035; restated Pub. L. 92–507, § 3, Oct. 19, 1972, 86 Stat. 914; Pub. L. 96–561, title II, § 220(3)(D), Dec. 22, 1980, 94 Stat. 3294; Pub. L. 97–31, § 12(136), Aug. 6, 1981, 95 Stat. 166; Pub. L. 97–35, title XVI, § 1606(d), Aug. 13, 1981, 95 Stat. 752; § 1104 renumbered as § 1104A, Pub. L. 101–380, title IV, § 4115(f)(1), Aug. 18, 1990, 104 Stat. 521. 46 App.:1280.Pub. L. 85–469, title I, § 101 (par. under heading “Federal Ship Mortgage Insurance Fund”), June 25, 1958, 72 Stat. 231; Pub. L. 97–31, § 12(137), Aug. 6, 1981, 95 Stat. 166. The Federal Ship Financing Fund which had been created by 46 App. U.S.C. 1272 is obsolete as a result of the Federal Credit Reform Act of 1990 (2 U.S.C. 661 et seq.). This section codifies the current requirements and practices for the management of funds under this chapter, based on the requirements of that Act.
Editorial Notes
References in Text
The Federal Credit Reform Act of 1990, referred to in subsec. (a), is title V of Pub. L. 93–344, as added by Pub. L. 101–508, title XIII, § 13201(a), Nov. 5, 1990, 104 Stat. 1388–609, which is classified generally to subchapter III (§ 661 et seq.) of chapter 17A of Title 2, The Congress. For complete classification of this Act to the Code, see
Short Title
note set out under section 621 of Title 2 and Tables.
Amendments
2008—Pub. L. 110–181, § 3522(b), repealed Pub. L. 109–163, § 3507(a)(1)(B), (D), (c)(2). See 2006 Amendment note below. Subsec. (b). Pub. L. 110–181, § 3522(a)(9)(B), incorporated the substance of the amendment by Pub. L. 109–163, § 3507(a)(1)(B), (D), (c)(2), into this section by substituting “Administrator” for “Secretary of Transportation” wherever appearing in heading and text. See 2006 Amendment note below and section 18(a) of Pub. L. 109–304, set out as a Legislative Purpose and
Construction
note preceding section 101 of this title. Subsecs. (c), (d). Pub. L. 110–181, § 3522(a)(7), struck out “of Commerce” after “Secretary” wherever appearing in headings and text. 2006—Pub. L. 109–163, § 3507(a)(1)(B), (D), (c)(2), which directed the amendment of section 1272, 1274(g), and 1280 of the former Appendix to this title from which this section was derived, was repealed by Pub. L. 110–181, § 3522(b). See 2008 Amendment note for subsec. (b) and
Historical and Revision Notes
above.
Reference
Citations & Metadata
Citation
46 U.S.C. § 53717
Title 46, Shipping
Last Updated
Sep 22, 2026
Release point: 119-110