2016 US Code
Title 15 - Commerce and Trade
Chapter 14B - Small Business Investment Program
Subchapter IV-A - Guarantees
Part A - Commercial or Industrial Lease and Qualified Contract Guarantees
Sec. 694-2 - Revolving fund for qualified contract guarantees; investment of idle funds

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Citation 15 U.S.C. § 694-2 (2016)
Section Name §694–2. Revolving fund for qualified contract guarantees; investment of idle funds
Section Text

There is created within the Treasury a separate fund for guarantees which shall be available to the Administrator without fiscal year limitations as a revolving fund for the purpose of section 694–1 of this title. All amounts received by the Administrator, including any moneys, property, or assets derived by him from his operations in connection with section 694–1 of this title shall be deposited in the fund. All expenses and payments, excluding administrative expenses, pursuant to operations of the Administrator under section 694–1 of this title shall be paid from the fund. Moneys in the fund not needed for the payment of current operating expenses or for the payment of claims arising under this part may be invested in bonds or other obligations of, or bonds or other obligations guaranteed as to principal and interest by, the United States; except that moneys provided as capital for the fund shall not be so invested.

Source Credit

(Pub. L. 85–699, title IV, §405, as added Pub. L. 94–305, title I, §102, June 4, 1976, 90 Stat. 665; amended Pub. L. 95–89, title I, §104, Aug. 4, 1977, 91 Stat. 556; Pub. L. 96–302, title I, §112, July 2, 1980, 94 Stat. 837.)

Editorial Notes AMENDMENTS

1980—Pub. L. 96–302 inserted investment of idle funds provision.

1977—Pub. L. 95–89 prohibited payment of administrative expenses from the fund and deleted provisions which authorized: a $15,000,000 appropriation of capital for the fund; payment during the fiscal year into the Treasury as miscellaneous receipts, from the fund, of interest on the cumulative amount of appropriations available as capital to the fund less the average undisbursed cash balance in the fund during the year; and investment of noncapital moneys, when not needed for payment of current operating expenses or claims arising under section 694–2 of this title, in Federal bonds or obligations or bonds or obligations guaranteed by the United States as to principal and interest.

EFFECTIVE DATE OF 1980 AMENDMENT

Amendment by Pub. L. 96–302 effective Oct. 1, 1980, see section 507 of Pub. L. 96–302, set out as a note under section 631 of this title.

EFFECTIVE DATE OF 1977 AMENDMENT

Amendment by Pub. L. 95–89 effective Oct. 1, 1977, see section 106 of Pub. L. 95–89, set out as a note under section 633 of this title.

Publication Title United States Code, 2012 Edition, Supplement 4, Title 15 - COMMERCE AND TRADE
Category Bills and Statutes
Collection United States Code
SuDoc Class Number Y 1.2/5:
Contained Within Title 15 - COMMERCE AND TRADE
CHAPTER 14B - SMALL BUSINESS INVESTMENT PROGRAM
SUBCHAPTER IV-A - GUARANTEES
Part A - Commercial or Industrial Lease and Qualified Contract Guarantees
Sec. 694-2 - Revolving fund for qualified contract guarantees; investment of idle funds
Contains section 694-2
Date 2016
Laws In Effect As Of Date January 6, 2017
Positive Law No
Disposition standard
Statutes at Large References 90 Stat. 665
91 Stat. 556
94 Stat. 837
Public Law References Public Law 85-699, Public Law 94-305, Public Law 95-89, Public Law 96-302
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