Pub. L. 82-139, tit. IV, sec. 404

Pub. L. 82-139, tit. IV, sec. 404

EnactedYear: 1951Length: 166 wordsOfficial source
Sec. 404. The Administrator is authorized to obtain money from the Treasury of the United States for use in the performance of the functions, powers, and duties granted to him by this title, not to exceed a total of $10,000,000 outstanding at any one time. For this purpose appropriations not to exceed $10,000,000 are hereby authorized to be made to a revolving fund in the Treasury. Advances shall be made to the Administrator from the revolving fund when requested by the Administrator. As the Administrator repays the amounts thus obtained from the Treasury, the repayments shall be made to the revolving fund. The Administrator shall pay into the Treasury as miscellaneous receipts interest on the outstanding advances from the Treasury provided for by this section. The Secretary of the Treasury shall determine the interest rate annually in advance, such rate to be calculated to reimburse the Treasury for its cost, taking into consideration the current average interest rate which the Treasury pays upon its marketable obligations.
Pub. L. 82-139, tit. IV, sec. 404 | Justis AI