§ 4718. — Authorization of appropriations.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC4718]
TITLE 12--BANKS AND BANKING
CHAPTER 47--COMMUNITY DEVELOPMENT BANKING
SUBCHAPTER I--COMMUNITY DEVELOPMENT BANKING AND FINANCIAL INSTITUTIONS
Sec. 4718. Authorization of appropriations
(a) Fund authorization
(1) In general
To carry out this subchapter, there are authorized to be
appropriated to the Fund, to remain available until expended--
(A) $60,000,000 for fiscal year 1995;
(B) $104,000,000 for fiscal year 1996;
(C) $107,000,000 for fiscal year 1997; and
(D) $111,000,000 for fiscal year 1998;
or such greater sums as may be necessary to carry out this
subchapter.
(2) Administrative expenses
(A) In general
Of amounts authorized to be appropriated to the Fund
pursuant to this section, not more than $5,550,000 may be used
by the Fund in each fiscal year to pay the administrative costs
and expenses of the Fund. Costs associated with the training
program established under section 4708 of this title and the
technical assistance program established under section 4707 of
this title shall not be considered to be administrative expenses
for purposes of this paragraph.
(B) Calculations
The amounts referred to in paragraphs (3) and (4) shall be
calculated after subtracting the amount referred to in
subparagraph (A) of this paragraph from the total amount
appropriated to the Fund in accordance with paragraph (1) in any
fiscal year.
(3) Capitalization assistance
Not more than 5 percent of the amounts authorized to be
appropriated under paragraph (1) may be used as provided in section
4712 of this title.
(4) Availability for funding section 4713 of this title
33\1/3\ percent of the amounts appropriated to the Fund for any
fiscal year pursuant to the authorization in paragraph (1) shall be
available for use in carrying out section 4713 of this title.
(5) Support of community development financial institutions
The Administrator shall allocate funds authorized under this
section, to the maximum extent practicable, for the support of
community development financial institutions.
(b) Community Development Credit Union Revolving Loan Fund
There are authorized to be appropriated for the purposes of the
Community Development Credit Union Revolving Loan Fund--
(1) $4,000,000 for fiscal year 1995;
(2) $2,000,000 for fiscal year 1996;
(3) $2,000,000 for fiscal year 1997; and
(4) $2,000,000 for fiscal year 1998.
(c) Budgetary treatment
Amounts authorized to be appropriated under this section shall be
subject to discretionary spending caps, as provided in section 665 \1\
of title 2, and therefore shall reduce by an equal amount funds made
available for other discretionary spending programs.
---------------------------------------------------------------------------
\1\ See References in Text note below.
---------------------------------------------------------------------------
(Pub. L. 103-325, title I, Sec. 121, Sept. 23, 1994, 108 Stat. 2189.)
References in Text
Section 665 of title 2, referred to in subsec. (c), was repealed by
Pub. L. 105-33, title X, Sec. 10118(a), Aug. 5, 1997, 111 Stat. 695.
Section Referred to in Other Sections
This section is referred to in section 4713 of this title.
