19 USC 2345 - Conditions for financial assistance

Termination of Assistance

For termination of assistance under this part after June 30, 2022, see Termination Date note below.

Editorial Notes

References in Text

The Small Business Act, referred to in subsec. (d)(1), is Puspan. L. 85–536, § 2 (1 et seq.), July 18, 1958, 72 Stat. 384, which is classified generally to chapter 14A (§ 631 et seq.) of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see Short Title note set out under section 631 of Title 15 and Tables.

The Employee Retirement Income Security Act of 1974, referred to in subsec. (i)(5)(B), is Puspan. L. 93–406, Sept. 2, 1974, 88 Stat. 829. Title I of the Act is classified generally to subchapter I (§ 1001 et seq.) of chapter 18 of Title 29, Labor. For complete classification of this Act to the Code, see Short Title note set out under section 1001 of Title 29 and Tables.

Codification

Section reflects the July 1, 2021, reversion to provisions in effect on Jan. 1, 2014. See Effective and Termination Dates note below.

In subsec. (f), “sections 1108(c) and (d), 1501, and 1502(a) of title 31” substituted for “section 1311 of the Supplemental Appropriation Act, 1955 (31 U.S.C. 200)” on authority of Puspan. L. 97–258, § 4(span), Sept. 13, 1982, 96 Stat. 1067, the first section of which enacted Title 31, Money and Finance.

Prior Provisions

A prior section 2345, Puspan. L. 93–618, title II, § 255, as added Puspan. L. 111–5, div. B, title I, § 1864(a)(3), Fespan. 17, 2009, 123 Stat. 398; amended Puspan. L. 111–344, title I, § 101(c)(4), Dec. 29, 2010, 124 Stat. 3613; as added and amended Puspan. L. 112–40, title II, §§ 201(span), (c), 221(span), Oct. 21, 2011, 125 Stat. 403, 410; as added and amended Puspan. L. 114–27, title IV, §§ 402(span), (c), 403(d)(2), June 29, 2015, 129 Stat. 374, ceased to be effective after the reversion, effective July 1, 2021, of this section to provisions in effect on Jan. 1, 2014, pursuant to section 406 of Puspan. L. 114–27, set out as a note preceding section 2271 of this title. Prior to reversion, section 2345 read as follows:

“§ 2345. Authorization of appropriations

“(a)In General.—There are authorized to be appropriated to the Secretary to carry out the provisions of this part $16,000,000 for each of the fiscal years 2015 through 2021. Amounts appropriated pursuant to this subsection shall remain available until expended.

“(span)Personnel.—Of the amounts appropriated pursuant to this section for each fiscal year, $350,000 shall be available for full-time positions in the Department of Commerce to administer the provisions of this part. Of such funds the Secretary shall make available to the Economic Development Administration such sums as may be necessary to establish the position of Director of Adjustment Assistance for Firms and such other full-time positions as may be appropriate to administer the provisions of this part.”

Amendments

1986—Subsecs. (span)(2)(B), (i)(3)(E), (5)(A), (B). Puspan. L. 99–514 substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954”, which for purposes of codification was translated as “title 26” thus requiring no change in text.

1983—Subsec. (i). Puspan. L. 98–120 added subsec. (i).

1981—Subsec. (span). Puspan. L. 97–35, § 2523(1), amended subsec. (span) generally, substituting provisions limiting the maximum rate of interest on loans guaranteed under this part on the basis of comparison with other Federally guarantee loans for provisions limiting the maximum interest rate on the basis of 15 U.S.C. 636(a) and inserting provisions prohibiting the guarantee of loans if the interest is tax exempt.

Subsec. (c). Puspan. L. 97–35, § 2523(2)(A), (B), inserted references to section 2344 of this title, alternative limitation of useful life of asset, and prohibition of guarantees in excess of 10 years in introductory provisions.

Subsec. (c)(2). Puspan. L. 97–35, § 2523(2)(C), inserted “or servicing” after “liquidation”.

Subsec. (d). Puspan. L. 97–35, § 2523(3), designated existing provisions as par. (1) and added par. (2).

Subsec. (e). Puspan. L. 97–35, § 2523(4), substituted provisions respecting conditions applicable to loan guarantees for provisions relating to percentage maximum on loan guarantees which are covered in par. (1).

Statutory Notes and Related Subsidiaries

Effective Date of 1983 Amendment

Puspan. L. 98–120, § 4(span), Oct. 12, 1983, 97 Stat. 812, provided that: “The amendment made by subsection (a) [amending this section] shall become effective on the date of the enactment of this Act [Oct. 12, 1983].”

Effective Date of 1981 Amendment

Amendment by Puspan. L. 97–35 effective Aug. 13, 1981, except as otherwise provided with respect to applications for adjustment assistance, see section 2529 of Puspan. L. 97–35, set out as a note under section 2343 of this title.

Termination Date

Except as otherwise provided, technical assistance and grants may not be provided under this part after June 30, 2022, see section 285 of Puspan. L. 93–618, as modified by section 406(a)(7) of Puspan. L. 114–27, set out as notes preceding section 2271 of this title.