2015 US Code
Title 31 - Money and Finance (Sections 101 - 9705)
Subtitle III - Financial Management (Sections 3101 - 3907)
Chapter 37 - Claims (Sections 3701 - 3733)
Subchapter II - Claims of the United States Government (Sections 3711 - 3720E)
Sec. 3720B - Barring delinquent Federal debtors from obtaining Federal loans or loan insurance guarantees
Publication Title | United States Code, 2012 Edition, Supplement 3, Title 31 - MONEY AND FINANCE |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 31 - MONEY AND FINANCE SUBTITLE III - FINANCIAL MANAGEMENT CHAPTER 37 - CLAIMS SUBCHAPTER II - CLAIMS OF THE UNITED STATES GOVERNMENT Sec. 3720B - Barring delinquent Federal debtors from obtaining Federal loans or loan insurance guarantees |
Contains | section 3720B |
Date | 2015 |
Laws In Effect As Of Date | January 3, 2016 |
Positive Law | Yes |
Disposition | standard |
Source Credit | Added Pub. L. 104-134, title III, §31001(j)(1), Apr. 26, 1996, 110 Stat. 1321-365; amended Pub. L. 106-387, §1(a) [title VIII, §845(a)], Oct. 28, 2000, 114 Stat. 1549, 1549A-65. |
Statutes at Large References | 110 Stat. 1321-365, 896 114 Stat. 1549 |
Public and Private Laws | Public Law 104-127, Public Law 104-134, Public Law 106-387 |
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(a) Unless this subsection is waived by the head of a Federal agency, a person may not obtain any Federal financial assistance in the form of a loan (other than a disaster loan or a marketing assistance loan or loan deficiency payment under subtitle C of the Agricultural Market Transition Act (7 U.S.C. 7231 et seq.)) or loan insurance or guarantee administered by the agency if the person has an outstanding debt (other than a debt under the Internal Revenue Code of 1986) with any Federal agency which is in a delinquent status, as determined under standards prescribed by the Secretary of the Treasury. Such a person may obtain additional loans or loan guarantees only after such delinquency is resolved in accordance with those standards. The Secretary of the Treasury may exempt, at the request of an agency, any class of claims.
(b) The head of a Federal agency may delegate the waiver authority under subsection (a) to the Chief Financial Officer of the agency. The waiver authority may be redelegated only to the Deputy Chief Financial Officer of the agency.
(Added Pub. L. 104–134, title III, §31001(j)(1), Apr. 26, 1996, 110 Stat. 1321–365; amended Pub. L. 106–387, §1(a) [title VIII, §845(a)], Oct. 28, 2000, 114 Stat. 1549, 1549A–65.)
REFERENCES IN TEXTThe Agricultural Market Transition Act, referred to in subsec. (a), is title I of Pub. L. 104–127, Apr. 4, 1996, 110 Stat. 896, as amended. Subtitle C of the Act is classified generally to subchapter III (§7231 et seq.) of chapter 100 of Title 7, Agriculture. For complete classification of this Act to the Code, see References in Text note set out under section 7201 of Title 7 and Tables.
The Internal Revenue Code of 1986, referred to in subsec. (a), is classified to Title 26, Internal Revenue Code.
AMENDMENTS2000—Subsec. (a). Pub. L. 106–387 inserted "or a marketing assistance loan or loan deficiency payment under subtitle C of the Agricultural Market Transition Act (7 U.S.C. 7231 et seq.)" after "disaster loan".
EFFECTIVE DATE OF 2000 AMENDMENTPub. L. 106–387, §1(a) [title VIII, §845(c)], Oct. 28, 2000, 114 Stat. 1549, 1549A–65, provided that:
"(1) In general.—The amendment made by subsection (a) [amending this section] takes effect on the date of enactment of this Act [Oct. 28, 2000].
"(2) Transition loan deficiency payments.—If the producers on a farm lost beneficial interest in a crop during the period beginning March 21, 2000, and ending on the day before the date of enactment of this Act and were ineligible for a marketing assistance loan under subtitle C of the Agricultural Market Transition Act (7 U.S.C. 7231 et seq.) because of section 3720B(a) of title 31, United States Code, as in effect before the amendment made by subsection (a), the producers shall be eligible for any loan deficiency payment under subtitle C of that Act that was available on the date on which the producers lost beneficial interest in the crop."
PAYMENTSPub. L. 106–387, §1(a) [title VIII, §845(b)], Oct. 28, 2000, 114 Stat. 1549, 1549A–65, provided that: "Any payment made by the Commodity Credit Corporation to a producer as a result of the amendment made by section (a) [amending this section] shall be credited toward any delinquent debt owed by the producer to the Farm Service Agency."
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