Pub. L. 116-136, div. A, tit. IV, subtit. A, sec. 4029

TERMINATION OF AUTHORITY.

EnactedYear: 2020Length: 108 wordsOfficial source
SEC. 4029. TERMINATION OF AUTHORITY.(a) In General.—Except as provided in subsection (b), on December 31, 2020, the authority provided under this subtitle to make new loans, loan guarantees, or other investments shall terminate.(b) Outstanding.—(1) In general.—Except as provided in paragraph (2), any loan, loan guarantee, or other investment outstanding on the date described in subsection (a)—(A) may be modified, restructured, or otherwise amended; and(B) may not be forgiven.(2) Duration.—The duration of any loan or loan guarantee made under section 4003(b)(1) that is modified, restructured, or otherwise amended under paragraph (1) shall not be extended beyond 5 years from the initial origination date of the loan or loan guarantee.
Pub. L. 116-136, div. A, tit. IV, subtit. A, sec. 4029: TERMINATION OF AUTHORITY. | Justis AI