
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC2278b-8]

 
                       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


(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 appropriations

    There 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.

(Pub. L. 92-181, title VI, Sec. 6.28, as added Pub. L. 100-233, title 
II, Sec. 201, Jan. 6, 1988, 101 Stat. 1603; amended Pub. L. 100-399, 
title II, Sec. 201(bb), Aug. 17, 1988, 102 Stat. 992; Pub. L. 102-552, 
title III, Sec. 304(b), Oct. 28, 1992, 106 Stat. 4114.)


                               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 Amendment

    Amendment 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.

                  Section Referred to in Other Sections

    This section is referred to in sections 2278b-5, 2278b-6 of this 
title.
