19 USC 2497a - Agricultural Disaster Relief Trust Fund

U.S Code last checked for updates: May 05, 2024

§ 2497a.

Agricultural Disaster Relief Trust Fund

(a)

Creation of Trust Fund

(b)

Transfer to Trust Fund

(1)

In general

(2)

Amounts based on estimates

(3)

Limitation on transfers to Agricultural Disaster Relief Trust Fund

No amount may be appropriated to the Agricultural Disaster Relief Trust Fund on and after the date of any expenditure from the Agricultural Disaster Relief Trust Fund which is not permitted by this section. The determination of whether an expenditure is so permitted shall be made without regard to—

(A)

any provision of law which is not contained or referenced in this subchapter or in a revenue Act, and

(B)

whether such provision of law is a subsequently enacted provision or directly or indirectly seeks to waive the application of this paragraph.

(c)

Administration

(1)

Reports

(2)

Investment

(A)

In general

The Secretary of the Treasury shall invest such portion of the Agricultural Disaster Relief Trust Fund as is not in his judgment required to meet current withdrawals. Such investments may be made only in interest bearing obligations of the United States. For such purpose, such obligations may be acquired—

(i)

on original issue at the issue price, or

(ii)

by purchase of outstanding obligations at the market price.

(B)

Sale of obligations

(C)

Interest on certain proceeds

(d)

Expenditures from Trust Fund

(e)

Authority to borrow

(1)

In general

(2)

Repayment of advances

(A)

In general

(B)

Rate of interest

Interest on advances made pursuant to this subsection shall be—

(i)

at a rate determined by the Secretary of the Treasury (as of the close of the calendar month preceding the month in which the advance is made) to be equal to the current average market yield on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the anticipated period during which the advance will be outstanding, and

(ii)

compounded annually.

(Pub. L. 93–618, title IX, § 902, as added Pub. L. 110–234, title XV, § 15101(a), May 22, 2008, 122 Stat. 1498, and Pub. L. 110–246, § 4(a), title XV, § 15101(a), June 18, 2008, 122 Stat. 1664, 2260.)

cite as: 19 USC 2497a