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The Office of Management and Budget and the Congressional Budget Office shall have access to all agency data that may facilitate the development and improvement of estimates of costs. (e) Historical credit program costs

The Director shall review, to the extent possible, historical data and develop the best possible estimates of adjustments that would convert aggregate historical budget data to credit reform accounting. (f) Administrative costs

The Director and the Director of the Congressional Budget Office shall each analyze and report to Congress on differences in long-term administrative costs for credit programs versus grant programs by January 31, 1992. Their reports shall recommend to Congress any changes, if necessary, in the treatment of administrative costs under credit reform accounting. (Pub. L. 93-344, title V, $ 503, as added Pub. L. 101-508, title XIII, § 13201(a), Nov. 5, 1990, 104 Stat. 1388-611.)

ments, or directly or indirectly alter the costs of outstanding direct loans and loan guarantees shall constitute new budget authority in an amount equal to the cost of the direct loan or loan guarantee in the fiscal year in which definite authority becomes available or indefinite authority is used. Such budget authority shall constitute an obligation of the credit program account to pay to the financing account.

(2) The outlays resulting from new budget authority for the cost of direct loans or loan guarantees described in paragraph (1) shall be paid from the credit program account into the financing account and recorded in the fiscal year in which the direct loan or the guaranteed loan is disbursed or its costs altered.

(3) All collections and payments of the financing accounts shall be a means of financing. (e) Modifications

A direct loan obligation or loan guarantee commitment shall not be modified in a manner that increases its cost unless budget authority for the additional cost is appropriated, or is available out of existing appropriations or from other budgetary resources. (f) Reestimates

When the estimated cost for a group of direct loans or loan guarantees for a given credit program made in a single fiscal year is reestimated in a subsequent year, the difference between the reestimated cost and the previous cost estimate shall be displayed as a distinct and separately identified subaccount in the credit program account as a change in program costs and a change in net interest. There is hereby provided permanent indefinite authority for these reestimates.

PRIOR PROVISIONS A prior section 503 of Pub. L. 93-344, title V, July 12, 1974, 88 Stat. 321, was classified to section 701 of former Title 31, prior to repeal and reenactment in section 1552(a) of Title 31, Money and Finance, by Pub. L. 97-258, $ 5(b), Sept. 13, 1982, 96 Stat. 1068, the first section of which enacted Title 31.

(g) Administrative expenses

All funding for an agency's administration of a direct loan or loan guarantee program shall be displayed as distinct and separately identified subaccounts within the same budget account as the program's cost. (Pub. L. 93-344, title V, $ 504, as added Pub. L. 101-508, title XIII, § 13201(a), Nov. 5, 1990, 104 Stat. 1388-612.)

8 661c. Budgetary treatment (a) President's budget

Beginning with fiscal year 1992, the President's budget shall reflect the costs of direct loan and loan guarantee programs. The budget shall also include the planned level of new direct loan obligations or loan guarantee commitments associated with each appropriations request. (b) Appropriations required

Notwithstanding any other provision of law, new direct loan obligations may be incurred and new loan guarantee commitments may be made for fiscal year 1992 and thereafter only to the extent that

(1) appropriations of budget authority to cover their costs are made in advance;

(2) a limitation on the use of funds otherwise available for the cost of a direct loan or loan guarantee program is enacted; or

(3) authority is otherwise provided in appropriation Acts. (c) Exemption for mandatory programs

Subsection (b) of this section shall not apply to a direct loan or loan guarantee program that

(1) constitutes an entitlement (such as the guaranteed student loan program or the veterans' home loan guaranty program); or

(2) all existing credit programs of the Commodity Credit Corporation on November 5,

1990. (d) Budget accounting

(1) The authority to incur new direct loan obligations, make new loan guarantee commit

PRIOR PROVISIONS

A prior section 504 of Pub. L. 93-344, title V, July 12, 1974, 88 Stat. 322, was classified to section 1020a of former Title 31, prior to repeal by Pub. L. 97-258, $ 5(b), Sept. 13, 1982, 96 Stat. 1068.

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in title 22 sections 2195, 2197; title 42 section 4822.

8 661d. Authorizations

(a) Authorization of appropriations for costs

There are authorized to be appropriated to each Federal agency authorized to make direct loan obligations or loan guarantee commitments, such sums as may be necessary to pay the cost associated with such direct loan obligations or loan guarantee commitments.

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(b) Authorization for financing accounts

In order to implement the accounting required by this subchapter, the President is authorized to establish such non-budgetary accounts as may be appropriate.

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(a) In general

(1) This subchapter shall not apply to the credit or insurance activities of the Federal Deposit Insurance Corporation, National Credit Union Administration, Resolution Trust Corporation, Pension Benefit Guaranty Corporation, National Flood Insurance, National Insurance Development Fund, Crop Insurance, or Tennessee Valley Authority.

(2) The Director and the Director of the Con-
gressional Budget Office shall each study
whether the accounting for Federal deposit in-
surance programs should be on a cash basis on
the same basis as loan guarantees, or on a dif-
ferent basis. Each Director shall report findings
and recommendations to the President and the
Congress on or before May 31, 1991.

(3) For the purposes of paragraph (2), the
Office of Management and Budget and the
Congressional Budget Office shall have access
to all agency data that may facilitate these
studies.
(Pub. L. 93-344, title V, $ 506, as added Pub. L.
101-508, title XIII, § 13201(a), Nov. 5, 1990, 104
Stat. 1388-614.)

(c) Treasury transactions with financing accounts

The Secretary of the Treasury shall borrow from, receive from, lend to, or pay to the financing accounts such amounts as may be appropriate. The Secretary of the Treasury may prescribe forms and denominations, maturities, and terms and conditions for the transactions described above. The authorities described above shall not be construed to supercede or override the authority of the head of a Federal agency to administer and operate a direct loan or loan guarantee program. All of the transactions provided in this subsection shall be subject to the provisions of subchapter II of chapter 15 of title 31. Cash balances of the financing accounts in excess of current requirements shall be maintained in a form of uninvested funds and the Secretary of the Treasury shall pay interest on these funds. (d) Authorization for liquidating accounts

If funds in liquidating accounts are insufficient to satisfy the obligations and commitments of said accounts, there is hereby provided permanent, indefinite authority to make any payments required to be made on such obligations and commitments.

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PRIOR PROVISIONS
A prior section 506 of Pub. L. 93-344, title V, July 12,
1974, 88 Stat. 322, amended section 105 of Title 1, Gen-
eral Provisions, and enacted provisions set out as a
note under section 105 of Title 1, prior to the general
revision of title V of Pub. L. 93-344 by Pub. L. 101-508.

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8 661f. Effect on other laws

(e) Authorization of appropriations for implementa

tion expenses There are authorized to be appropriated to existing accounts such sums as may be necessary for salaries and expenses to carry out the responsibilities under this subchapter. (f) Reinsurance

Nothing in this subchapter shall be construed as authorizing or requiring the purchase of insurance or reinsurance on a direct loan or loan guarantee from private insurers. If any such reinsurance for a direct loan or loan guarantee is authorized, the cost of such insurance and any recoveries to the Government shall be included in the calculation of the cost.

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(a) Effect on other laws

This subchapter shall supersede, modify, or
repeal any provision of law enacted prior to No-
vember 5, 1990, to the extent such provision is
inconsistent with this subchapter. Nothing in
this subchapter shall be construed to establish
a credit limitation on any Federal loan or loan
guarantee program.
(b) Crediting of collections

Collections resulting from direct loans obli-
gated or loan guarantees committed prior to
October 1, 1991, shall be credited to the liqui-
dating accounts of Federal agencies. Amounts
so credited shall be available, to the same
extent that they were available prior to Novem-
ber 5, 1990, to liquidate obligations arising from
such direct loans obligated or loan guarantees
committed prior to October 1, 1991, including
repayment of any obligations held by the Sec-
retary of the Treasury or the Federal Financ-
ing Bank. The unobligated balances of such ac-
counts that are in excess of current needs shall
be transferred to the general fund of the Treas-
ury. Such transfers shall be made from time to
time but, at least once each year.
(Pub. L. 93-344, title V, $ 507, as added Pub. L.
101-508, title XIII, $ 13201(a), Nov. 5, 1990, 104
Stat. 1388-614.)

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(g) Eligibility and assistance

Nothing in this subchapter shall be construed to change the authority or the responsibility of a Federal agency to determine the terms and conditions of eligibility for, or the amount of assistance provided by a direct loan or a loan guarantee. (Pub. L. 93-344, title V, $ 505, as added Pub. L. 101-508, title XIII, § 13201(a), Nov. 5, 1990, 104 Stat. 1388-613.)

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PRIOR PROVISIONS A prior section 505 of Pub. L. 93-344, title V, July 12, 1974, 88 Stat. 322, repealed sections 66 and 81 of this title.

SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in title 22 section 2197.

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SUBCHAPTER IV-BUDGET AGREEMENT

ENFORCEMENT PROVISIONS SUBCHAPTER REFERRED TO IN OTHER SECTIONS This subchapter is referred to in sections 907&, 907b of this title.

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new budget authority and $540,800,000,000 in outlays; and

(F) with respect to fiscal years 1996, 1997, and 1998, for the discretionary category, the amounts set forth for those years in section 12(b)(1) of House Concurrent Reso

lution 64 (One Hundred Third Congress); as adjusted in strict conformance with section 251 of the Balanced Budget and Emergency

Deficit Control Act of 1985 (2 U.S.C. 901). (b) Point of order in Senate on aggregate allocations

for defense, international, and domestic discre

tionary spending (1) Except as otherwise provided in this subsection, it shall not be in order in the Senate to consider any concurrent resolution on the budget for fiscal year 1995, 1996, 1997, or 1998 (or amendment, motion, or conference report on such a resolution) that would exceed any of the discretionary spending limits in this section.

(3) For purposes of this subsection, the levels of new budget authority and outlays for a fiscal year shall be determined on the basis of estimates made by the Committee on the Budget of the Senate.

(4) This subsection shall not apply if a declaration of war by the Congress is in effect or if a joint resolution pursuant to section 258 2 of the Balanced Budget and Emergency Deficit Control Act of 1985 has been enacted. (Pub. L. 93-344, title VI, $ 601, as added Pub. L. 101-508, title XIII, § 13111, Nov. 5, 1990, 104 Stat. 1388-602; amended Pub. L. 103–66, title XIV, § 14002(a), (b), Aug. 10, 1993, 107 Stat. 683.)

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8 665. Definitions and point of order (a) Definitions

As used in this subchapter and for purposes of the Balanced Budget and Emergency Deficit Control Act of 1985: (1) Maximum deficit amount

The term "maximum deficit amount" means

(A) with respect to fiscal year 1991, $327,000,000,000;

(B) with respect to fiscal year 1992, $317,000,000,000;

(C) with respect to fiscal year 1993, $236,000,000,000;

(D) with respect to fiscal year 1994, $102,000,000,000;

(E) with respect to fiscal year 1995, $83,000,000,000; as adjusted in strict conformance with sections 251, 252, and 253 of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 901, 902, 903). (2) Discretionary spending limit

The term “discretionary spending limit” means

(A) with respect to fiscal year 1991

(i) for the defense category: $288,918,000,000 in new budget authority and $297,660,000,000 in outlays;

(ii) for the international category: $20,100,000,000 in new budget authority and $18,600,000,000 in outlays; and

(iii) for the domestic category: $182,700,000,000 in new budget authority and $198,100,000,000 in outlays; (B) with respect to fiscal year 1992

(i) for the defense category: $291,643,000,000 in new budget authority and $295,744,000,000 in outlays;

(ii) for the international category: $20,500,000,000 in new budget authority and $19,100,000,000 in outlays; and

(iii) for the domestic category: $191,300,000,000 in new budget authority and $210,100,000,000 in outlays; (C) with respect to fiscal year 1993–

(1) for the defense category: $291,785,000,000 in new budget authority and $292,686,000,000 in outlays;

(ii) for the international category: $21,400,000,000 in new budget authority and $19,600,000,000 in outlays; and

(iii) for the domestic category: $198,300,000,000 in new budget authority and $221,700,000,000 in outlays;

(D) with respect to fiscal year 1994, for the discretionary category: $510,800,000,000 in new budget authority and $534,800,000,000 in outlays;

(E) with respect to fiscal year 1995, for the discretionary category: $517,700,000,000

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REFERENCES IN TEXT The Balanced Budget and Emergency Deficit Control Act of 1985, referred to in subsec. (a), is title II of Pub. L. 99-177, Dec. 12, 1985, 99 Stat. 1038, as amended, which enacted chapter 20 (8 900 et seq.) and sections 654 to 656 of this title, amended sections 602, 622, 631 to 642, and 651 to 653 of this title, sections 1104 to 1106, and 1109 of Title 31, Money and Finance, and section 911 of Title 42, The Public Health and Welfare, repealed section 661 of this title, enacted provisions set out as notes under section 900 of this title and section 911 of Title 42, and amended provisions set out as a note under section 621 of this title. There are two sections 258 of such Act, referred to in subsec. (b)(4), which are classified, respectively, to sections 907a and 908 of this title. For complete classification of this Act to the Code, see Short Title note set out under section 900 of this title and Tables.

House Concurrent Resolution 64, referred to in subsec. (a)(2)(F), is H. Con. Res. 64, Apr. 1, 1993, 107 Stat. which is not classified to the Code.

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PRIOR PROVISIONS A prior section 601 of Pub. L. 93–344, title VI, July 12, 1974, 88 Stat. 323, was classified to section 11 of former Title 31, prior to repeal and reenactment as sections 1105(a)(15), 1106(b), and 1108(d) of Title 31, Money and Finance, by Pub. L. 97-258, § 5(b), Sept. 13, 1982, 96 Stat. 1068, the first section of which enacted Title 31.

1 Subsec. (b) enacted without a par. (2).

? There are two sections 258. See References in Text note below.

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AMENDMENTS

in the conference report, of the appropriate 1993–Subsec. (a)(2)(F). Pub. L. 103-66, § 14002(a),

levels of added subparagraph (F).

(A) total new budget authority; Subsec. (b)(1). Pub. L. 103-66, § 14002(b), amended par. (1) generally. Prior to amendment, par. (1) read as

(B) total outlays; and follows: "Except as provided in paragraph (3), it shall

(C) social security outlays; not be in order in the Senate to consider any concurrent resolution on the budget for fiscal year 1992,

among each committee of the Senate that has 1993, 1994, or 1995 (or amendment, motion, or confer

jurisdiction over legislation providing or creence report on such a resolution), or any appropria- ating such amounts. tions bill or resolution (or amendment, motion, or conference report on such an appropriations bill or reso

(3) Amounts not allocated lution) for fiscal year 1992 or 1993 that would exceed

(A) In the House of Representatives, if a the allocations in this section or the suballocations made under section 665a(b) of this title based on these

committee receives no allocation of new allocations."

budget authority, entitlement authority, or

outlays, that committee shall be deemed to
EFFECTIVE DATE

have received an allocation equal to zero for
Section 107 of title VI of Pub. L. 93–344, as added by new budget authority, entitlement authority,
Pub. L. 101-508, title XIII, § 13111, Nov. 5, 1990, 104 or outlays.
Stat. 1388-607, and amended by Pub. L. 102-66, title

(B) In the Senate, if a committee receives
XIV, $ 14002(c)(3)(B), Aug. 10, 1993, 107 Stat. 684, pro-
vided that: “This title (enacting this subchapter) shall

no allocation of new budget authority, outtake effect upon its date of enactment (Nov. 5, 1990)

lays, or social security outlays, that commitand shall apply to fiscal years 1991 to 1998."

tee shall be deemed to have received an allo

cation equal to zero for new budget authority, SECTION REFERRED TO IN OTHER SECTIONS

outlays, or social security outlays. This section is referred to in sections 6650, 665e, 900, 903 of this title; title 22 sections 5853, 5859a.

(b) Suballocations by committees 8 665a. Committee allocations and enforcement

(1) Suballocations by Appropriations Committees (a) Committee spending allocations

As soon as practicable after a budget resolu

tion is agreed to, the Committee on Appro(1) House of Representatives

priations of each House (after consulting with (A) Allocation among committees

the Committee on Appropriations of the The

joint explanatory statement other House) shall suballocate each amount accompanying a conference report on a allocated to it for the budget year under subbudget resolution shall include allocations, section (a)(1)(A) or (a)(2) of this section consistent with the resolution recommend- among its subcommittees. Each Committee ed in the conference report, of the appropri- on Appropriations shall promptly report to ate levels (for each fiscal year covered by its House suballocations made or revised that resolution and a total for all such

under this paragraph. years) of

(2) Suballocations by other committees of the
(i) total new budget authority,

Senate
(ii) total entitlement authority, and
(iii) total outlays;

Each other committee of the Senate to among each committee of the House of

which an allocation under subsection (a)(2) of

this section is made in the joint explanatory Representatives that has jurisdiction over legislation providing or creating such

statement may subdivide each amount allo

cated to it under subsection (a) of this section amounts.

among its subcommittees or among programs (B) No double counting

over which it has jurisdiction and shall Any item allocated to one committee of promptly report any such suballocations to the House of Representatives may not be the Senate. Section 633(c) of this title shall allocated to another such committee.

not apply in the Senate to committees other (C) Further division of amounts

than the Committee on Appropriations. The amounts allocated to each committee

(c) Application of section 633(f) of this title to this for each fiscal year, other than the Com

section mittee on Appropriations, shall be further divided between amounts provided or re

In fiscal years through 1995, reference in sec

tion 633(f) of this title to the appropriate alloquired by law on the date of filing of that conference report and amounts not so pro

cation made pursuant to section 633(b) of this vided or required. The amounts allocated to

title for a fiscal year shall, for purposes of this the Committee on Appropriations for each

section, be deemed to be a reference to any allofiscal year shall be further divided between cation made under subsection (a) of this section discretionary and mandatory amounts or

or any suballocation made under subsection (b) programs, as appropriate.

of this section, as applicable, for the fiscal year

of the resolution or for the total of all fiscal (2) Senate allocation among committees

years made by the joint explanatory statement The joint explanatory statement accompanying the applicable concurrent resoluaccompanying a conference report on tion on the budget. In the House of Representbudget resolution shall include an allocation, atives, the preceding sentence shall not apply consistent with the resolution recommended with respect to fiscal year 1991.

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ered for the purposes of this Act as allocations, functional levels, and budget aggregates contained in the most recently agreed to con

current resolution on the budget. (Pub. L. 93-344, title VI, $ 602, as added Pub. L. 101-508, title XIII, § 13111, Nov. 5, 1990, 104 Stat. 1388-603.)

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In the case of concurrent resolutions on the budget for fiscal years 1992 through 1995, allocations shall be made under subsection (a) of this section instead of section 633(a) of this title and shall be made under subsection (b) of this section instead of section 633(b) of this title. For those fiscal years, all references in sections : 633(c), (d), (e), (f), and (g) of this title to section 633(a) of this title shall be deemed to be to subsection (a) of this section (including revisions made under section 665c of this title) and all such references to section 633(b) of this title shall be deemed to be to subsection (b) of this section (including revisions made under section 665c of this title).

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REFERENCES IN TEXT This Act, referred to in subsec. (e)(2)(B), means Pub. L. 93-344, July 12, 1974, 88 Stat. 297, as amended, known as the Congressional Budget and Impoundment Control Act of 1974, which enacted chapters 17, 17A, and 17B, and section 190a-3 of this title and sections 11a, 11c, 110, 1020a of former Title 31, Money and Fi. nance, amended sections 11, 665, 701, 1020, 1151, 1152, 1153, and 1154 of former Title 31, section 105 of Title 1, General Provisions, sections 1906 and 190d of this title, repealed sections 571 and 581c-1 of former Title 31, and sections 66 and 81 of this title, and enacted provisions set out as notes under sections 190a-1, 621, 632, and 682 of this title, section 105 of Title 1, and section 1020 of former Title 31. For complete classification of this Act to the Code, see Short Title note set out under section 621 of this title and Tables.

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PRIOR PROVISIONS A prior section 602 of Pub. L. 93-344, title VI, July 12, 1974, 88 Stat. 324, was classified to section 11 of former Title 31, prior to repeal and reenactment as section 1106(a) of Title 31, Money and Finance, by Pub. L. 97-258, $ 5(b), Sept. 13, 1982, 96 Stat. 1068, the first section of which enacted Title 31.

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SECTION REFERRED TO IN OTHER SECTIONS

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This section is referred to in sections 665b, 901 of this title.

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(e) Pay-as-you-go exception in House

(1) 2 Section 633(f)(1) of this title and, after April 15 of any calendar year section 634(a) of this title, shall not apply to any bill, joint resolution, amendment thereto, or conference report thereon if, for each fiscal year covered by the most recently agreed to concurrent resolution on the budget

(1) the enactment of such bill or resolution as reported;

(2) the adoption and enactment of such amendment; or

(3) the enactment of such bill or resolution in the form recommended in such conference

report, would not increase the deficit for any such fiscal year, and, if the sum of any revenue increases provided in legislation already enacted during the current session (when added to revenue increases, if any, in excess of any outlay increase provided by the legislation proposed for consideration) is at least as great as the sum of the amount, if any, by which the aggregate level of Federal revenues should be increased as set forth in that concurrent resolution and the amount, if any, by which revenues are to be increased pursuant to pay-as-you-go procedures under section 632(b)(8) of this title if included in that concurrent resolution. (2) REVISED ALLOCATIONS.

(A) As soon as practicable after Congress agrees to a bill or joint resolution that would have been subject to a point of order under section 633(f)(1) of this title but for the exception provided in paragraph (1), the chairman of the Committee on the Budget of the House of Representatives may file with the House appropriately revised allocations under section 633(a) of this title and revised functional levels and budget aggregates to reflect that bill.

(B) such 3 revised allocations, functional levels, and budget aggregates shall be consid

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8 665b. Consideration of legislation before adoption

of budget resolution for that fiscal year (a) ADJUSTING SECTION ALLOCATION OF DISCRETIONARY SPENDING.-If a concurrent resolution on the budget is not adopted by April 15, the chairman of the Committee on the Budget of the House of Representatives shall submit to the House, as soon as practicable, a section 602(a) (2 U.S.C. 665a(a)] allocation to the Committee on Appropriations consistent with the discretionary spending limits contained in the most recent budget submitted by the President under section 1105(a) of title 31. Such allocation shall include the full allowance specified under section 901(b)(2)(E)(i) of this title.

(b) As soon as practicable after a section 602(a) (2 U.S.C. 665a(a)] allocation is submitted under this section, the Committee on Appropriations shall make suballocations and promptly report those suballocations to the House of Representatives. (Pub. L. 93-344, title VI, $ 603, as added Pub. L. 101-508, title XIII, § 13111, Nov. 5, 1990, 104 Stat. 1388-605.)

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PRIOR PROVISIONS

So in original. Probably should be "section". * Par. (1) designation supplied editorially. * 8o in original. Probably should be capitalized.

A prior section 603 of Pub. L. 93-344, title VI, July 12, 1974, 88 Stat. 324, was classified to section 11 of former Title 31, prior to repeal and reenactment in section 1105(a)(1)-(14) of Title 31, Money and Finance, by Pub. L. 97-258, $ 5(b), Sept. 13, 1982, 96 Stat. 1068, the first section of which enacted Title 31.

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