42 U.S.C. § 16378 — Authorization of appropriations; contract authority

FEDERAL · 42 U.S.C. · Chapter 149

Authorization of appropriations; contract authority

Current through Pub. L. 119-102

Title 42 — The Public Health and Welfare·Ch. 149 — NATIONAL ENERGY POLICY AND PROGRAMS·Subch. IX·Pt. J

(a)Authorization of appropriations

(1)In general There are authorized to be appropriated to the Secretary to carry out this part—

(A)$600,000,000 for each of fiscal years 2022 and 2023; and

(B)$300,000,000 for each of fiscal years 2024 through 2026.

(2)Spending and borrowing authority Spending and borrowing authority for a fiscal year to enter into Federal credit instruments shall be promptly apportioned to the Secretary on a fiscal-year basis.

(3)Reestimates If the subsidy amount of a Federal credit instrument is reestimated, the cost increase or decrease of the reestimate shall be borne by, or benefit, the general fund of the Treasury, consistent with section 661c(f) of title 2.

(4)Administrative costs Of the amounts made available to carry out the CIFIA program, the Secretary may

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(a) Authorization of appropriations
(1) In general
There are authorized to be appropriated to the Secretary to carry out this part—
(A) $600,000,000 for each of fiscal years 2022 and 2023; and
(B) $300,000,000 for each of fiscal years 2024 through 2026.
(2) Spending and borrowing authority
Spending and borrowing authority for a fiscal year to enter into Federal credit instruments shall be promptly apportioned to the Secretary on a fiscal-year basis.
(3) Reestimates
If the subsidy amount of a Federal credit instrument is reestimated, the cost increase or decrease of the reestimate shall be borne by, or benefit, the general fund of the Treasury, consistent with section 661c(f) of title 2.
(4) Administrative costs
Of the amounts made available to carry out the CIFIA program, the Secretary may use not more than $9,000,000 (as indexed for United States dollar inflation from November 15, 2021 (as measured by the Consumer Price Index)) each fiscal year for the administration of the CIFIA program.
(b) Contract authority
(1) In general
Notwithstanding any other provision of law, execution of a term sheet by the Secretary of a Federal credit instrument that uses amounts made available under the CIFIA program shall impose on the United States a contractual obligation to fund the Federal credit investment.
(2) Availability
Amounts made available to carry out the CIFIA program for a fiscal year shall be available for obligation on October 1 of the fiscal year.

42 U.S.C. § 16378 (Authorization of appropriations; contract authority) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Pub. L. 109–58, title IX, §999H, as added Pub. L. 117–58, div. D, title III, §40304(a), Nov. 15, 2021, 135 Stat. 1000.)

Editorial Notes

Editorial Notes

Prior Provisions
A prior section 16378, Pub. L. 109–58, title IX, §999H, Aug. 8, 2005, 119 Stat. 924; Pub. L. 113–287, §5(k)(6), Dec. 19, 2014, 128 Stat. 3270, related to the Ultra-Deepwater and Unconventional Natural Gas and Other Petroleum Research Fund, prior to repeal by Pub. L. 113–67, div. A, title III, §301(a), Dec. 26, 2013, 127 Stat. 1181.

Statutory Notes and Related Subsidiaries

Wage Rate Requirements
For provisions relating to rates of wages to be paid to laborers and mechanics on projects for construction, alteration, or repair work funded under div. D or an amendment by div. D of Pub. L. 117–58, including authority of Secretary of Labor, see section 18851 of this title.