2017 US Code
Title 12 - Banks and Banking
Chapter 23 - Farm Credit System
Subchapter VI - Assistance to Farm Credit System
Part B - Financial Assistance Corporation
Sec. 2278b-8 - Payments
| 12 U.S.C. § 2278b-8 (2017) |
| §2278b–8. Payments |
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(a) In general
Beginning in fiscal year 1989, the Secretary of the Treasury shall reimburse the Financial Assistance Corporation for any amounts such Corporation pays in interest charges under section 2278b–6(c) of this title during fiscal year 1988, and thereafter the Secretary shall pay the Financial Assistance Corporation any amounts due from the Secretary to such Corporation under section 2278b–6(c) of this title. (b) Authorization of appropriationsThere is authorized to be appropriated to the Secretary of the Treasury such sums on an annual basis as may be necessary to carry out this part. |
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(Pub. L. 92–181, title VI, §6.28, as added Pub. L. 100–233, title II, §201, Jan. 6, 1988, 101 Stat. 1603; amended Pub. L. 100–399, title II, §201(bb), Aug. 17, 1988, 102 Stat. 992; Pub. L. 102–552, title III, §304(b), Oct. 28, 1992, 106 Stat. 4114.) |
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AMENDMENTS
1992—Subsecs. (b), (c). Pub. L. 102–552 redesignated subsec. (c) as (b) and struck out former subsec. (b) which read as follows: "(b) Repayment of Interest Paid by Secretary of the Treasury.— "(1) In general.—Any amounts paid into the Assistance Fund by the Secretary of the Treasury pursuant to subsection (a) of this section exceeding $2,000,000,000 shall be repaid by System institutions in accordance with a schedule to be established by the Farm Credit Administration Board. "(2) Allocation.—Until such repayment is completed, each System institution shall pay a proportionate share of the amount due under paragraph (1) equal to— "(A) the amount of the performing loan volume of the institution, determined in accordance with section 2278b–6(c)(2)(D) of this title (based on the average loan volume for the preceding year); divided by "(B) the total performing loan volume of the System for the preceding year." 1988—Subsec. (b)(2). Pub. L. 100–399 in introductory provision substituted "paragraph (1) equal" for "this paragraph" and in subpar. (A) substituted "section 2278b–6(c)(2)(D) of this title" for "subsection (c)(1)(D) of this section". EFFECTIVE DATE OF 1988 AMENDMENTAmendment by Pub. L. 100–399 effective as if enacted immediately after enactment of Pub. L. 100–233, which was approved Jan. 6, 1988, see section 1001(a) of Pub. L. 100–399, set out as a note under section 2002 of this title. |
| United States Code, 2012 Edition, Supplement 5, Title 12 - BANKS AND BANKING |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 12 - BANKS AND BANKING CHAPTER 23 - FARM CREDIT SYSTEM SUBCHAPTER VI - ASSISTANCE TO FARM CREDIT SYSTEM Part B - Financial Assistance Corporation Sec. 2278b-8 - Payments |
| section 2278b-8 |
| 2017 |
| January 12, 2018 |
| No |
| standard |
| 101 Stat. 1603 102 Stat. 992 106 Stat. 4114 |
| Public Law 92-181, Public Law 100-233, Public Law 100-399, Public Law 102-552 |
