2014 US Code
Title 38 - Veterans' Benefits (Sections 101 - 8528)
Part III - Readjustment and Related Benefits (Sections 3001 - 4335)
Chapter 37 - Housing and Small Business Loans (Sections 3701 - 3775)
Subchapter IV - Small Business Loans (Sections 3741 - 3751)
Sec. 3749 - Revolving fund
Publication Title | United States Code, 2012 Edition, Supplement 2, Title 38 - VETERANS' BENEFITS |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 38 - VETERANS' BENEFITS PART III - READJUSTMENT AND RELATED BENEFITS CHAPTER 37 - HOUSING AND SMALL BUSINESS LOANS SUBCHAPTER IV - SMALL BUSINESS LOANS Sec. 3749 - Revolving fund |
Contains | section 3749 |
Date | 2014 |
Laws In Effect As Of Date | January 5, 2015 |
Positive Law | Yes |
Disposition | standard |
Source Credit | Added Pub. L. 97-72, title III, §302(a), Nov. 3, 1981, 95 Stat. 1058, §1849; amended Pub. L. 99-576, title VII, §702(11), Oct. 28, 1986, 100 Stat. 3302; Pub. L. 101-237, title III, §313(b)(1), Dec. 18, 1989, 103 Stat. 2077; renumbered §3749 and amended Pub. L. 102-83, §§4(a)(2)(B)(v), 5(a), Aug. 6, 1991, 105 Stat. 403, 406. |
Statutes at Large References | 95 Stat. 1058 100 Stat. 3302 103 Stat. 2077 105 Stat. 403 |
Public and Private Laws | Public Law 97-72, Public Law 99-576, Public Law 101-237, Public Law 102-83 |
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(a) There is established in the Treasury a revolving fund to be known as the "Department of Veterans Affairs Small Business Loan Revolving Fund" (hereinafter in this section referred to as the "fund").
(b) Amounts in the fund shall be available to the Secretary without fiscal year limitation for all loan guaranty and direct loan operations under this subchapter other than administrative expenses and may not be used for any other purpose.
(c)(1) There is authorized to be appropriated to the fund a total of $25,000,000.
(2) There shall be deposited into the fund all amounts received by the Secretary derived from loan operations under this subchapter, including all collection of principal and interest and the proceeds from the use of property held or of property sold.
(d) The Secretary shall determine annually whether there has developed in the fund a surplus which, in the Secretary's judgment, is more than necessary to meet the needs of the fund. Any such surplus shall immediately be transferred into the general fund of the Treasury.
(e) Not later than two years after the termination of the authority of the Secretary to make new commitments for financial assistance under this subchapter, the Secretary shall transfer into the general fund of the Treasury all amounts in the fund except those that the Secretary determines may be required for the liquidation of obligations under this subchapter. All amounts received thereafter derived from loan operations under this subchapter, except so much thereof as the Secretary may determine to be necessary for liquidating outstanding obligations under this subchapter, shall also be so deposited.
(Added Pub. L. 97–72, title III, §302(a), Nov. 3, 1981, 95 Stat. 1058, §1849; amended Pub. L. 99–576, title VII, §702(11), Oct. 28, 1986, 100 Stat. 3302; Pub. L. 101–237, title III, §313(b)(1), Dec. 18, 1989, 103 Stat. 2077; renumbered §3749 and amended Pub. L. 102–83, §§4(a)(2)(B)(v), 5(a), Aug. 6, 1991, 105 Stat. 403, 406.)
AMENDMENTS1991—Pub. L. 102–83, §5(a), renumbered section 1849 of this title as this section.
Subsec. (a). Pub. L. 102–83, §4(a)(2)(B)(v), substituted "Department of Veterans Affairs" for "Veterans' Administration".
1989—Subsecs. (b) to (e). Pub. L. 101–237 substituted "Secretary" and "Secretary's" for "Administrator" and "Administrator's", respectively, wherever appearing.
1986—Subsec. (c)(1). Pub. L. 99–576 substituted "There" for "Effective for fiscal year 1982 and fiscal years thereafter, there".
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