
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 43USC1747]

 
                         TITLE 43--PUBLIC LANDS
 
             CHAPTER 35--FEDERAL LAND POLICY AND MANAGEMENT
 
                     SUBCHAPTER III--ADMINISTRATION
 
Sec. 1747. Loans to States and political subdivisions; purposes; 
        amounts; allocation; terms and conditions; interest rate; 
        security; limitations; forebearance for benefit of borrowers; 
        recordkeeping requirements; discrimination prohibited; deposit 
        of receipts
        
    (1) The Secretary is authorized to make loans to States and their 
political subdivisions in order to relieve social or economic impacts 
occasioned by the development of minerals leased in such States pursuant 
to the Act of February 25, 1920, as amended [30 U.S.C. 181 et seq.]. 
Such loans shall be confined to the uses specified for the 50 per centum 
of mineral leasing revenues to be received by such States and 
subdivisions pursuant to section 35 of such Act [30 U.S.C. 191].
    (2) The total amount of loans outstanding pursuant to this section 
for any State and political subdivisions thereof in any year shall be 
not more than the anticipated mineral leasing revenues to be received by 
that State pursuant to section 35 of the Act of February 25, 1920, as 
amended [30 U.S.C. 191], for the ten years following.
    (3) The Secretary, after consultation with the Governors of the 
affected States, shall allocate such loans among the States and their 
political subdivisions in a fair and equitable manner, giving priority 
to those States and subdivisions suffering the most severe impacts.
    (4) Loans made pursuant to this section shall be subject to such 
terms and conditions as the Secretary determines necessary to assure the 
achievement of the purpose of this section. The Secretary shall 
promulgate such regulations as may be necessary to carry out the 
provisions of this section no later than three months after August 20, 
1978.
    (5) Loans made pursuant to this section shall bear interest 
equivalent to the lowest interest rate paid on an issue of at least 
$1,000,000 of tax exempt bonds of such State or any agency thereof 
within the preceding calendar year.
    (6) Any loan made pursuant to this section shall be secured only by 
a pledge of the revenues received by the State or the political 
subdivision thereof pursuant to section 35 of the Act of February 25, 
1920, as amended [30 U.S.C. 191], and shall not constitute an obligation 
upon the general property or taxing authority of such unit of 
government.
    (7) Notwithstanding any other provision of law, loans made pursuant 
to this section may be used for the non-Federal share of the aggregate 
cost of any project or program otherwise funded by the Federal 
Government which requires a non-Federal share for such project or 
program and which provides planning or public facilities otherwise 
eligible for assistance under this section.
    (8) Nothing in this section shall be construed to preclude any 
forebearance \1\ for the benefit of the borrower including loan 
restructuring, which may be determined by the Secretary as justified by 
the failure of anticipated mineral development or related revenues to 
materialize as expected when the loan was made pursuant to this section.
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    \1\ So in original.
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    (9) Recipients of loans made pursuant to this section shall keep 
such records as the Secretary shall prescribe by regulation, including 
records which fully disclose the disposition of the proceeds of such 
assistance and such other records as the Secretary may require to 
facilitate an effective audit. The Secretary and the Comptroller General 
of the United States or their duly authorized representatives shall have 
access, for the purpose of audit, to such records.
    (10) No person in the United States shall, on the grounds of race, 
color, religion, national origin, or sex be excluded from participation 
in, be denied the benefits of, or be subjected to discrimination under, 
any program or activity funded in whole or part with funds made 
available under this section.
    (11) All amounts collected in connection with loans made pursuant to 
this section, including interest payments or repayments of principal on 
loans, fees, and other moneys, derived in connection with this section, 
shall be deposited in the Treasury as miscellaneous receipts.

(Pub. L. 94-579, title III, Sec. 317(c), Oct. 21, 1976, 90 Stat. 2771; 
Pub. L. 95-352, Sec. 1(f), Aug. 20, 1978, 92 Stat. 515.)

                       References in Text

    Act of February 25, 1920, as amended, referred to in par. (1), is 
act Feb. 25, 1920, ch. 85, 41 Stat. 437, as amended, known as the 
Mineral Leasing Act, which is classified generally to chapter 3A 
(Sec. 181 et seq.) of Title 30, Mineral Lands and Mining. For complete 
classification of this Act to the Code, see Short Title note set out 
under section 181 of Title 30 and Tables.

                          Codification

    Section is comprised of subsec. (c) of section 317 of Pub. L. 94-
579. Subsecs. (a) and (b) of section 317 of Pub. L. 94-579 are 
classified to section 191 of Title 30, Mineral Lands and Mining, and a 
note set out under that section; respectively.


                               Amendments

    1978--Pars. (1) and (2). Pub. L. 95-352 redesignated par. (1) as 
pars. (1) and (2), in par. (1) struck out provisions establishing 
interest rate requirements, and in par. (2) struck out exception for 
Alaska and requirements for repayment. Former par. (2) redesignated (3).
    Pars. (3) to (11). Pub. L. 95-352 redesignated former pars. (2) and 
(3) as (3) and (4), respectively, and added pars. (5) to (11).
