§ 9060. Reports

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 2020

   Coronavirus Economic Stabilization Act of 2020

   Pub. L. 116–136 div. A title IV § 4026 · 134 Stat. 281

   Enacted · 15 U.S.C. § 9060

   Pub. L. 116–136, div. A, title IV, § 4026, Mar. 27, 2020, 134 Stat. 494

   Source evidence

   Code source credit
   Pub. L. 116–136, div. A, title IV, § 4026, Mar. 27, 2020, 134 Stat. 494

   Enacted provision · exact public law section
   SEC. 4026. REPORTS. (a) Disclosure of Transactions.— Not later than 72 hours after any transaction by the Secretary under paragraph (1), (2), or (3) of section 4003(b), the Secretary shall publish on the website of the Department of the Treasury— (1) a plain-language description of the transaction, including the date of application, date of application approval, and identity of the counterparty; (2) the amount of the loan or loan guarantee; (3) the interest rate, conditions, and any other material or financial terms associated with the transaction, if applicable; and (4) a copy of the relevant and final term sheet, if applicable, and contract or other relevant documentation regarding the transaction. (b) Reports.— (1) To congress.— (A) In general.— In addition to such reports as are required under section 5302(c) of title 31, United States Code, not later than 7 days after the Secretary makes any loan or loan guarantee under paragraph (1), (2), or (3) of section 4003(b), the Secretary shall submit to the Chairmen and Ranking Members of the Committee on Banking, Housing, and Urban Affairs and the Committee on Finance of the Senate and the Chairmen and Ranking Members of the Committee on Financial Services and the Committee on Ways and Means of the House of Representatives a report summarizing— (i) an overview of actions taken by the Secretary under paragraph (1), (2) or (3) of section 4003(b) during such period; (ii) the actual obligation, expenditure, and disbursements of the funds during such period; and (iii) a detailed financial statement with respect to the exercise of authority under paragraph (1), (2) or (3) of section 4003(b) showing— (I) all loans and loan guarantees made, renewed, or restructured; (II) all transactions during such period, including the types of parties involved; (III) the nature of the assets purchased; (IV) a description of the vehicles established to exercise such authority; and (V) any or all repayment activity, delinquencies or defaults on loans and loan guarantees issued under paragraph (1), (2) or (3) of section 4003(b). (B) Publication.— Not later than 7 days after the date on which the Secretary submits a report under subparagraph (A) to the committees of Congress described in such subparagraph, the Secretary shall publish such report on the website of the Department of the Treasury. (C) 30-day reports.— Every 30 days during such time as a loan or loan guarantee under paragraph (1), (2), or (3) of section 4003(b) is outstanding, the Secretary shall publish on the website of the Department of the Treasury a report summarizing the information set forth in subparagraph (A). (2) Board of governors.— (A) In general.— With respect to any program or facility described in paragraph (4) of section 4003(b), the Board of Governors of the Federal Reserve System shall provide to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives such reports as are required to be provided under section 13(3) of the Federal Reserve Act (12 U.S.C. 343(3))— (i) not later than 7 days after the Board authorizes a new facility or other financial assistance in accordance with section 13(3)(C)(i) of the Federal Reserve Act (12 U.S.C. 343(3)(C)(i)); and (ii) once every 30 days with respect to outstanding loans or financial assistance in accordance with section 13(3)(C)(ii) of the Federal Reserve Act (12 U.S.C. 343(3)(C)(ii)). (B) Publication.— Not later than 7 days after the Board of Governors of the Federal Reserve System submits a report under subparagraph (A) to the committees of Congress described in subparagraph (A), the Board shall publish on its website such report. (c) Testimony.— The Secretary and the Chairman of the Board of Governors of the Federal Reserve System shall testify, on a quarterly basis, before the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives regarding the obligations of the Department of the Treasury and the Federal Reserve System, and transactions entered into, under this Act. (d) Program Descriptions.— The Secretary shall post on the website of the Department of the Treasury all criteria, guidelines, eligibility requirements, and application materials for the making of any loan or loan guarantee under paragraph (1), (2), or (3) of section 4003(b). (e) Administrative Contracts.— Not later than 24 hours after the Secretary enters into a contract in connection with the administration of any loan or loan guarantee authorized to be made under paragraph (1), (2), or (3) of section 4003(b), the Secretary shall post on the website of the Department of the Treasury a copy of the contract. (f) Government Accountability Office.— (1) Study.— The Comptroller General of the United States shall conduct a study on the loans, loan guarantees, and other investments provided under section 4003. (2) Report.— Not later than 9 months after the date of enactment of this Act, and annually thereafter through the year succeeding the last year for which loans, loan guarantees, or other investments made under section 4003 are outstanding, the Comptroller General shall submit to the Committee on Financial Services, the Committee on Transportation and Infrastructure, the Committee on Appropriations, and the Committee on the Budget of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs, the Committee on Commerce, Science, and Transportation, the Committee on Appropriations, and the Committee on the Budget of the Senate a report on the loans, loan guarantees, and other investments made under section 4003.

2. 2022

   Energy and Water Development and Related Agencies Appropriations Act, 2022

   Pub. L. 117–103 div. HH title III § 301 · 136 Stat. 49

   1. Substituted · 15 U.S.C. § 9060(c)

      Pub. L. 117–103 substituted “semiannual” for “quarterly”

   2. Inserted · 15 U.S.C. § 9060(c)

      Pub. L. 117–103 inserted at end “This subsection shall have no force or effect after December 31, 2027.”

   Source evidence

   Code amendment note
   Subsec. (c). Pub. L. 117–103 substituted “semiannual” for “quarterly” and inserted at end “This subsection shall have no force or effect after December 31, 2027.”

   Enacted provision · exact public law section
   Sec. 301. (including transfers and rescissions of funds) (a) No appropriation, funds, or authority made available by this title for the Department of Energy shall be used to initiate or resume any program, project, or activity or to prepare or initiate Requests For Proposals or similar arrangements (including Requests for Quotations, Requests for Information, and Funding Opportunity Announcements) for a program, project, or activity if the program, project, or activity has not been funded by Congress. (b) (1) Unless the Secretary of Energy notifies the Committees on Appropriations of both Houses of Congress at least 3 full business days in advance, none of the funds made available in this title may be used to— (A) make a grant allocation or discretionary grant award totaling $1,000,000 or more; (B) make a discretionary contract award or Other Transaction Agreement totaling $1,000,000 or more, including a contract covered by the Federal Acquisition Regulation; (C) issue a letter of intent to make an allocation, award, or Agreement in excess of the limits in subparagraph (A) or (B); or (D) announce publicly the intention to make an allocation, award, or Agreement in excess of the limits in subparagraph (A) or (B). (2) The Secretary of Energy shall submit to the Committees on Appropriations of both Houses of Congress within 15 days of the conclusion of each quarter a report detailing each grant allocation or discretionary grant award totaling less than $1,000,000 provided during the previous quarter. (3) The notification required by paragraph (1) and the report required by paragraph (2) shall include the recipient of the award, the amount of the award, the fiscal year for which the funds for the award were appropriated, the account and program, project, or activity from which the funds are being drawn, the title of the award, and a brief description of the activity for which the award is made. (c) The Department of Energy may not, with respect to any program, project, or activity that uses budget authority made available in this title under the heading “Department of Energy—Energy Programs”, enter into a multiyear contract, award a multiyear grant, or enter into a multiyear cooperative agreement unless— (1) the contract, grant, or cooperative agreement is funded for the full period of performance as anticipated at the time of award; or (2) the contract, grant, or cooperative agreement includes a clause conditioning the Federal Government’s obligation on the availability of future year budget authority and the Secretary notifies the Committees on Appropriations of both Houses of Congress at least 3 days in advance. (d) Except as provided in subsections (e), (f), and (g), the amounts made available by this title shall be expended as authorized by law for the programs, projects, and activities specified in the “Final Bill” column in the “Department of Energy” table included under the heading “Title III—Department of Energy” in the explanatory statement described in section 4 (in the matter preceding division A of this consolidated Act). (e) The amounts made available by this title may be reprogrammed for any program, project, or activity, and the Department shall notify, and obtain the prior approval of, the Committees on Appropriations of both Houses of Congress at least 30 days prior to the use of any proposed reprogramming that would cause any program, project, or activity funding level to increase or decrease by more than $5,000,000 or 10 percent, whichever is less, during the time period covered by this Act. (f) None of the funds provided in this title shall be available for obligation or expenditure through a reprogramming of funds that— (1) creates, initiates, or eliminates a program, project, or activity; (2) increases funds or personnel for any program, project, or activity for which funds are denied or restricted by this Act; or (3) reduces funds that are directed to be used for a specific program, project, or activity by this Act. (g) (1) The Secretary of Energy may waive any requirement or restriction in this section that applies to the use of funds made available for the Department of Energy if compliance with such requirement or restriction would pose a substantial risk to human health, the environment, welfare, or national security. (2) The Secretary of Energy shall notify the Committees on Appropriations of both Houses of Congress of any waiver under paragraph (1) as soon as practicable, but not later than 3 days after the date of the activity to which a requirement or restriction would otherwise have applied. Such notice shall include an explanation of the substantial risk under paragraph (1) that permitted such waiver. (h) The unexpended balances of prior appropriations provided for activities in this Act may be available to the same appropriation accounts for such activities established pursuant to this title. Available balances may be merged with funds in the applicable established accounts and thereafter may be accounted for as one fund for the same time period as originally enacted.

3 of 3 references resolved to an enrolled provision