SAVINGS PROVISIONS.

SEC. 11610. [45 U.S.C. 821 note] SAVINGS PROVISIONS. (a) In general.—Except as provided in subsection (b) and section 11607(b), this subtitle, and the amendments made by this subtitle, shall not affect any direct loan (or direct loan obligation) or an outstanding loan guarantee (or loan guarantee commitment) that was in effect prior to the date of enactment of this Act. Any such transaction entered into before the date of enactment of this Act shall be administered until completion under its terms as if this Act were not enacted. (b) Modification Costs.—At the discretion of the Secretary, the authority to accept modification costs on behalf of an applicant under section 22402(f) of title 49, United States Code, may apply with respect to any direct loan (or direct loan obligation) or an outstanding loan guarantee (or loan guarantee commitment) that was in effect prior to the date of enactment of this Act.