**(a) Effect on other laws** This subchapter shall supersede, modify, or repeal any provision of law enacted prior to November 5, 1990, to the extent such provision is inconsistent with this subchapter. Nothing in this subchapter shall be construed to establish a credit limitation on any Federal loan or loan guarantee program.
**(b) Crediting of collections** Collections resulting from direct loans obligated or loan guarantees committed prior to October 1, 1991, shall be credited to the liquidating accounts of Federal agencies. Amounts so credited shall be available, to the same extent that they were available prior to November 5, 1990, to liquidate obligations arising from such direct loans obligated or loan guarantees committed prior to October 1, 1991, including repayment of any obligations held by the Secretary of the Treasury or the Federal Financing Bank. The unobligated balances of such accounts that are in excess of current needs shall be transferred to the general fund of the Treasury. Such transfers shall be made from time to time but, at least once each year.
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Stable record: federal_law:legal_authorities:record_usc_8c541f824679cb7dc766f7e1 Source file: Laws/federal/codes/united-states-code/title-2/section-622-effect-on-other-laws--cb02fcdc0c.md Pages: Not recorded – Not recorded Passage SHA-256: c0f02bf019f106fa1658b6fe9f3448e1a1e59a0e7ce857a9096cae8c29da6e75 Retained source evidence SHA-256: ebffd83086275865f9aa0613726535405620119dfe866d0dd7faaf8b49b84088
Source location: Title 2, Chapter 17A, § 622; chapter-17a-congressional-budget-and-fiscal-operations.md
Stored source content
**(a) Effect on other laws** This subchapter shall supersede, modify, or repeal any provision of law enacted prior to November 5, 1990, to the extent such provision is inconsistent with this subchapter. Nothing in this subchapter shall be construed to establish a credit limitation on any Federal loan or loan guarantee program.
**(b) Crediting of collections** Collections resulting from direct loans obligated or loan guarantees committed prior to October 1, 1991, shall be credited to the liquidating accounts of Federal agencies. Amounts so credited shall be available, to the same extent that they were available prior to November 5, 1990, to liquidate obligations arising from such direct loans obligated or loan guarantees committed prior to October 1, 1991, including repayment of any obligations held by the Secretary of the Treasury or the Federal Financing Bank. The unobligated balances of such accounts that are in excess of current needs shall be transferred to the general fund of the Treasury. Such transfers shall be made from time to time but, at least once each year.
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Federal law — U.S. Code and appendices · legal_authorities
§ 622. Definitions
For purposes of this Act—
(1) The terms ‘‘budget outlays’’ and ‘‘out-
lays’’ mean, with respect to any fiscal year,
expenditures and net lending of funds under
budget authority during such year.
(2) BUDGET AUTHORITY AND NEW BUDGET AU-
THORITY.—
(A) IN
GENERAL.—The term ‘‘budget au-
thority’’ means the authority provided by
Federal law to incur financial obligations, as
follows:
(i) provisions of law that make funds
available for obligation and expenditure
(other than borrowing authority), includ-
ing the authority to obligate and expend
the proceeds of offsetting receipts and col-
lections;
(ii) borrowing authority, which means
authority granted to a Federal entity to
borrow and obligate and expend the bor-
rowed
funds,
including
through
the
issuance of promissory notes or other mon-
etary credits;
Page 175
TITLE 2—THE CONGRESS
§ 622
1 So in original. Probably should be ‘‘as’’.
2 So in original. Probably should be ‘‘exceed’’.
(iii) contract authority, which means the
making of funds available for obligation
but not for expenditure; and
(iv) offsetting receipts and collections as
negative budget authority, and the reduc-
tion thereof as positive budget authority.
(B) LIMITATIONS
ON
BUDGET
AUTHORITY.—
With respect to the Federal Hospital Insur-
ance Trust Fund, the Supplementary Med-
ical Insurance Trust Fund, the Unemploy-
ment Trust Fund, and the railroad retire-
ment account, any amount that is precluded
from obligation in a fiscal year by a provi-
sion of law (such as a limitation or a benefit
formula) shall not be budget authority in
that year.
(C) NEW
BUDGET
AUTHORITY.—The term
‘‘new budget authority’’ means, with respect
to a fiscal year—
(i) budget authority that first becomes
available for obligation in that ye