
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 15USC694-2]

 
                      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
        
    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.

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


                               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.
