
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document affected by Public Law 106-387 Section 1(a)[845(a)]]
[Document affected by Public Law 106-387 Section 1(a)[845(b)]]
[Document affected by Public Law 106-387 Section 1(a)[845(c)]]
[CITE: 31USC3720B]

 
                       TITLE 31--MONEY AND FINANCE
 
                   SUBTITLE III--FINANCIAL MANAGEMENT
 
                           CHAPTER 37--CLAIMS
 
          SUBCHAPTER II--CLAIMS OF THE UNITED STATES GOVERNMENT
 
Sec. 3720B. Barring delinquent Federal debtors from obtaining 
        Federal loans or loan insurance guarantees
        
    (a) Unless this subsection is waived by the head of a Federal 
agency, a person may not obtain any Federal financial assistance in the 
form of a loan (other than a disaster loan or a marketing assistance 
loan or loan deficiency payment under subtitle C of the Agricultural 
Market Transition Act (7 U.S.C. 7231 et seq.)) or loan insurance or 
guarantee administered by the agency if the person has an outstanding 
debt (other than a debt under the Internal Revenue Code of 1986) with 
any Federal agency which is in a delinquent status, as determined under 
standards prescribed by the Secretary of the Treasury. Such a person may 
obtain additional loans or loan guarantees only after such delinquency 
is resolved in accordance with those standards. The Secretary of the 
Treasury may exempt, at the request of an agency, any class of claims.
    (b) The head of a Federal agency may delegate the waiver authority 
under subsection (a) to the Chief Financial Officer of the agency. The 
waiver authority may be redelegated only to the Deputy Chief Financial 
Officer of the agency.

(Added Pub. L. 104-134, title III, Sec. 31001(j)(1), Apr. 26, 1996, 110 
Stat. 1321-365; amended Pub. L. 106-387, Sec. 1(a) [title VIII, 
Sec. 845(a)], Oct. 28, 2000, 114 Stat. 1549, 1549A-65.)

                       References in Text

    The Agricultural Market Transition Act, referred to in subsec. (a), 
is title I of Pub. L. 104-127, Apr. 4, 1996, 110 Stat. 896, as amended. 
Subtitle C of the Act is classified generally to subchapter III 
(Sec. 7231 et seq.) of chapter 100 of Title 7, Agriculture. For complete 
classification of this Act to the Code, see References in Text note set 
out under section 7201 of Title 7 and Tables.
    The Internal Revenue Code of 1986, referred to in subsec. (a), is 
classified to Title 26, Internal Revenue Code.


                               Amendments

    2000--Subsec. (a). Pub. L. 106-387 inserted ``or a marketing 
assistance loan or loan deficiency payment under subtitle C of the 
Agricultural Market Transition Act (7 U.S.C. 7231 et seq.)'' after 
``disaster loan''.


                    Effective Date of 2000 Amendment

    Pub. L. 106-387, Sec. 1(a) [title VIII, Sec. 845(c)], Oct. 28, 2000, 
114 Stat. 1549, 1549A-65, provided that:
    ``(1) In general.--The amendment made by subsection (a) [amending 
this section] takes effect on the date of enactment of this Act [Oct. 
28, 2000].
    ``(2) Transition loan deficiency payments.--If the producers on a 
farm lost beneficial interest in a crop during the period beginning 
March 21, 2000, and ending on the day before the date of enactment of 
this Act and were ineligible for a marketing assistance loan under 
subtitle C of the Agricultural Market Transition Act (7 U.S.C. 7231 et 
seq.) because of section 3720B(a) of title 31, United States Code, as in 
effect before the amendment made by subsection (a), the producers shall 
be eligible for any loan deficiency payment under subtitle C of that Act 
that was available on the date on which the producers lost beneficial 
interest in the crop.''


                                Payments

    Pub. L. 106-387, Sec. 1(a) [title VIII, Sec. 845(b)], Oct. 28, 2000, 
114 Stat. 1549, 1549A-65, provided that: ``Any payment made by the 
Commodity Credit Corporation to a producer as a result of the amendment 
made by section (a) [amending this section] shall be credited toward any 
delinquent debt owed by the producer to the Farm Service Agency.''
