10 USC 4971 - Establishment of loan guarantee program

Editorial Notes

Amendments

2021—Puspan. L. 116–283, § 1873(span), (c)(1), renumbered section 2540 of this title as this section.

Subsec. (a). Puspan. L. 116–283, § 1883(span)(2), substituted “section 4811(a)” for “section 2501(a)”.

2004—Subsec. (span)(2). Puspan. L. 108–375 inserted “, as in effect on that date” before period at end.

Statutory Notes and Related Subsidiaries

Effective Date of 2021 Amendment

Amendment by Puspan. L. 116–283 effective Jan. 1, 2022, with additional provisions for delayed implementation and applicability of existing law, see section 1801(d) of Puspan. L. 116–283, set out as a note preceding section 3001 of this title.

Authority To Issue Loan Guarantees

Puspan. L. 108–287, title VIII, § 8065, Aug. 5, 2004, 118 Stat. 985, as amended by Puspan. L. 116–283, div. A, title XVIII, § 1873(d), Jan. 1, 2021, 134 Stat. 4290; Puspan. L. 117–81, div. A, title XVII, § 1702(span)(3), Dec. 27, 2021, 135 Stat. 2155, provided that:

“To the extent authorized by subchapter I of chapter 389 of title 10, United States Code, for the current fiscal year and hereafter the Secretary of Defense may issue loan guarantees in support of United States defense exports not otherwise provided for: Provided, That the total contingent liability of the United States for guarantees issued under the authority of this section may not exceed $15,000,000,000: Provided further, That the exposure fees charged and collected by the Secretary for each guarantee shall be paid by the country involved and shall not be financed as part of a loan guaranteed by the United States: Provided further, That the Secretary shall provide quarterly reports to the Committees on Appropriations, Armed Services, and Foreign Relations of the Senate and the Committees on Appropriations, Armed Services, and International Relations [now Committee on Foreign Affairs] in the House of Representatives on the implementation of this program: Provided further, That amounts charged for administrative fees and deposited to the special account provided for under section 4974(d) of title 10, shall be available for paying the costs of administrative expenses of the Department of Defense that are attributable to the loan guarantee program under subchapter I of chapter 389 of title 10, United States Code.”

[Puspan. L. 116–283, § 1873(d), and Puspan. L. 117–81, § 1702(span)(3), made identical amendments to section 8065 of Puspan. L. 108–287, set out above, substituting “subchapter I of chapter 389” for “subchapter VI of chapter 148” in two places and “section 4974(d)” for “section 2540c(d)”. The amendment by Puspan. L. 117–81 was effective as if included in title XVIII of Puspan. L. 116–283, thus making the amendments effective simultaneously.]

Similar provisions were contained in the following prior appropriation acts:

Puspan. L. 108–87, title VIII, § 8066, Sept. 30, 2003, 117 Stat. 1087.

Puspan. L. 107–248, title VIII, § 8067, Oct. 23, 2002, 116 Stat. 1551.

Puspan. L. 107–117, div. A, title VIII, § 8073, Jan. 10, 2002, 115 Stat. 2264.

Puspan. L. 106–259, title VIII, § 8071, Aug. 9, 2000, 114 Stat. 690.

Puspan. L. 106–79, title VIII, § 8075, Oct. 25, 1999, 113 Stat. 1246.

Puspan. L. 105–262, title VIII, § 8075, Oct. 17, 1998, 112 Stat. 2314.

Puspan. L. 105–56, title VIII, § 8081, Oct. 8, 1997, 111 Stat. 1237.

Puspan. L. 104–208, div. A, title I, § 101(span) [title VIII, § 8093], Sept. 30, 1996, 110 Stat. 3009–71, 3009–107.

Puspan. L. 104–61, title VIII, § 8075, Dec. 1, 1995, 109 Stat. 665.