(a) Definition.— In this section, the term FCRA means the Federal Credit Reform Act of 1990 (
2 U.S.C.
661 et seq.).
(b) Loan Guarantees by Secretary of Transportation.—
(1) When not subject to fcra.—
The Secretary of Transportation shall account for payments and disbursements involving obligations guaranteed under this chapter and not subject to FCRA in an account in the Treasury entitled the Federal Ship Financing Fund Liquidating Account (a liquidating account as defined in FCRA).
(2) When subject to fcra.—
The Secretary of Transportation shall account for payments and disbursements involving obligations guaranteed under this chapter and subject to FCRA in a separate account in the Treasury entitled the Federal Ship Financing Guaranteed Loan Financing Account (a financing account as defined in FCRA).
(c) Loan Guarantees by Secretary of Commerce.—
(1) When not subject to fcra.—
The Secretary of Commerce shall account for payments and disbursements involving obligations guaranteed under this chapter and not subject to FCRA in a separate account in the Treasury established for this purpose.
(2) When subject to fcra.—
The Secretary of Commerce shall account for payments and disbursements involving obligations guaranteed under this chapter and subject to FCRA in a separate account in the Treasury established for this purpose.
(d) Direct Loans by Secretary of Commerce.—
The Secretary of Commerce shall account for payments and disbursements involving direct loans made under this chapter in a separate account in the Treasury established for this purpose.
