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.

838

839

Section 13201(a) of the Budget Enforcement Act created the new title V on credit reform, including section 505, and repealed what used to be section 505. See infra p. 713. Before enactment of the Budget Enforcement Act, section 505 read as follows:

REPEALS

SEC. 505. The following provisions of law are repealed:

(1) the ninth paragraph under the headings "Legislative Establishment", "Senate", of the Deficiency Appropriation Act, fiscal year 1934 (48 Stat. 1022; 2 U.S.C. 66); and

(2) the proviso to the second paragraph under the headings "House of Representatives", "Salaries, Mileage, and Expenses of Members", of the Legislative-Judiciary Appropriation Act, 1955 (68

506

506(a)

§ 506(a)(1)

§ 506(a)(2)

SEC. 506.840 TREATMENT OF DEPOSIT IN-
SURANCE AND AGENCIES AND OTH-
ER INSURANCE PROGRAMS.

(1) This title 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.

844

(2) The Director and the Director of the Congressional Budget Office shall each study whether the account

840

Section 506 is codified at 2 U.S.C. § 661e (Supp. IV 1992). Section 13201(a) of the Budget Enforcement Act created the new title V on credit reform, including section 507, and repealed what used to be section 506. See infra p. 713. Before enactment of the Budget Enforcement Act, section 506 read as follows:

TECHNICAL AMENDMENT

SEC. 506. (a) Section 105 of title 1, United States Code, is amended by striking out "June 30′′ and inserting in lieu thereof "September 30".

(b) The provisions of subsection (a) of this section shall be effective with respect to Acts making appropriations for the support of the Government for any fiscal year commencing on or after October 1, 1976.

841 This is so in the original; the word "and" should not be here.

842 Section 13201(a) of the Budget Enforcement Act (see infra p. 713) created a subsection (a) here, even though it created no subsection (b) below.

843 This subsection heading is so in the original. It should not be here, as there is no subsection (b).

344 Section 502(9) defines "Director" as "the Director of the Office of Management

§ 506(a)(3)

845

ing for Federal deposit insurance programs should be on a cash basis on the same basis as loan guarantees, or on a different 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.

§ 507

§ 507 (a)

§ 507 (b)

SEC. 507.86 EFFECT ON OTHER LAWS.

(a) EFFECT ON OTHER LAWS. — This title shall supersede, modify, or repeal any provision of law enacted prior to the date of enactment of this title to the extent such provision is inconsistent with this title. Nothing in this title shall be construed to establish a credit limitation on any Federal loan or loan guarantee program.

850

847

(b) CREDITING OF COLLECTIONS.-Collections resulting from direct loans848 obligated or loan guarantees849 committed prior to October 1, 1991, shall be credited to the liquidating accounts of Federal agencies. Amounts so credited shall be available, to the same extent that they were available prior to the date of enactment of this title, 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 Secretary of the Treasury or the Federal Financing Bank. The unobligated balances of such accounts that are in excess of current needs shall be transferred to the general fund of the Treasury. Such transfers shall be made from time to time but, at least once each year.

346 Section 507 is codified at 2 U.S.C. § 661f (Supp. IV 1992). Section 13201(a) of the Budget Enforcement Act created the new title V on credit reform, including section 507. See infra p. 713.

47 Section 502(3) defines "loan guarantee." See supra p. 280.

348 Section 502(1) defines "direct loan." See supra p. 280.

849 Section 502(3) defines "loan guarantee." See supra p. 280.

§ 601

§ 601(a)

§ 601(a)(1)

§ 601(a)(1)(A)

§ 601(a)(1)(B)

TITLE VI

BUDGET AGREEMENT

ENFORCEMENT PROVISIONS1

SEC. 601.852
ORDER.

DEFINITIONS AND POINT OF

(a) DEFINITIONS. As used in this title and for purposes of the Balanced Budget and Emergency Deficit Control Act of 1985:

§ 601(a)(1)(C)

(1) MAXIMUM DEFICIT AMOUNT. - The term "maxi

mum 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;

851 Section 13111 of the Budget Enforcement Act repealed the original title heading of title VI and added what is now title VI. See infra p. 707. For legislative history of title VI as added by the Budget Enforcement Act, see infra note 936 (at the end of this title). As originally enacted in 1974, the title heading for title VI read as follows:

TITLE VI
AMENDMENTS TO

BUDGET AND

ACCOUNTING ACT, 1921

852 Section 601 is codified at 2 U.S.C. § 665 (Supp. IV 1992), amended by the Omnibus Budget Reconciliation Act of 1993, Pub. L. No. 103-66, § 14002, 107 Stat. 312 (1993). For legislative history of section 601, see infra note 870 (at the end of this section).