Page:United States Statutes at Large Volume 110 Part 4.djvu/232

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110 STAT. 3009-69 PUBLIC LAW 104-208—SEPT. 30, 1996 (2) The amount of appropriated funds required by the Federal Credit Reform Act of 1990 (2 U.S.C. 661a et seq.) in advance of the Secretary's issuance of a guarantee or a commitment to guarantee under this section shall be provided by the State in which the shipyard is located, and other involved States, or by a State-chartered agency, and deposited by the Secretary in the financing account established under the Federal Credit Reform Act of 1990 (2 U.S.C. 661a et seq.) for loan guarantees issued by the Secretary under title XI of the Merchant Marine Act of 1936 (46 App. U.S.C. 1271 et seq.). No federally appropriated funds shall be available for this purpose. The funds deposited into that financing account shall be held and applied by the Secretary in accordance with the provisions of the Federal Credit Reform Act of 1990 (2 U.S.C. 661a et seq.), except that, unless the Secretary shall have earlier paid an obligee or been required to pay an obligee pursuant to the terms of a loan guarantee, the funds deposited in that financing account shall be returned, upon the expiration of the Secretary's loan guarantee, to the State, States, or Statechartered agency which originally provided the funds to the Secretary. (3) Notwithstanding the provisions of any other law or regulation, the cost (as that term is defined by the Federal Credit Reform Act of 1990 (2 U.S.C. 661a et seq.)) of a guarantee or commitment to guarantee issued under this section— (A) may only be determined with reference to the merits of the specific closed shipyard reactivation project which is the subject of that guarantee or commitment to guarantee, without reference to any other project, type of project, or averaged risk; and (B) may not be used in determining the cost of any other project, type of project, or averaged risk applicable to guarantees or commitments to guarantee issued under title XI of the Merchant Marine Act, 1936 (46 App. U.S.C. 1271 et seq.). (e) SUNSET.— No commitment to guarantee obligations under this section shall be issued by the Secretary after one year after the date of enactment of this section. (f) DEFINITION. — As used in this section, the term "Secretary" means the Secretary of Transportation. TITLE VII—RESCISSIONS DEPARTMENT OF JUSTICE GENERAL ADMINISTRATION WORKING CAPITAL FUND (RESCISSION) Of the unobligated balances available under this heading on October 31, 1996, $30,000,000 are rescinded.