Title 47 — Telecommunications
Chapter 13 — Public Safety Communications and Electromagnetic Spectrum Auctions
§ 1441. State and Local Implementation Fund
Statutory text
Establishment
There is established in the Treasury of the United States a fund to be known as the State and Local Implementation Fund.
Amounts available for State and Local Implementation Grant Program
Any amounts borrowed under subsection (c)(1) and any amounts in the State and Local Implementation Fund that are not necessary to reimburse the general fund of the Treasury for such borrowed amounts shall be available to the Assistant Secretary to implement section 1442 of this title.
Borrowing authority
In general
Prior to the end of fiscal year 2022, the Assistant Secretary may borrow from the general fund of the Treasury such sums as may be necessary, but not to exceed $135,000,000, to implement section 1442 of this title.
Reimbursement
The Assistant Secretary shall reimburse the general fund of the Treasury, without interest, for any amounts borrowed under paragraph (1) as funds are deposited into the State and Local Implementation Fund.
Transfer of unused funds
If there is a balance remaining in the State and Local Implementation Fund on , the Secretary of the Treasury shall transfer such balance to the general fund of the Treasury, where such balance shall be dedicated for the sole purpose of deficit reduction.
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.
Middle Class Tax Relief and Job Creation Act of 2012
Pub. L. 112–96 title VI § 6301 · 126 Stat. 156
Enacted · 47 U.S.C. § 1441
(Pub. L. 112–96, title VI, § 6301, Feb. 22, 2012, 126 Stat. 218.)
Source evidence
Code source credit
(Pub. L. 112–96, title VI, § 6301, Feb. 22, 2012, 126 Stat. 218.)Enacted provision · exact public law section
SEC. 6301. STATE AND LOCAL IMPLEMENTATION FUND. (a) Establishment.— There is established in the Treasury of the United States a fund to be known as the State and Local Implementation Fund. (b) Amounts Available for State and Local Implementation Grant Program.— Any amounts borrowed under subsection (c)(1) and any amounts in the State and Local Implementation Fund that are not necessary to reimburse the general fund of the Treasury for such borrowed amounts shall be available to the Assistant Secretary to implement section 6302. (c) Borrowing Authority.— (1) In general.— Prior to the end of fiscal year 2022, the Assistant Secretary may borrow from the general fund of the Treasury such sums as may be necessary, but not to exceed $135,000,000, to implement section 6302. (2) Reimbursement.— The Assistant Secretary shall reimburse the general fund of the Treasury, without interest, for any amounts borrowed under paragraph (1) as funds are deposited into the State and Local Implementation Fund. (d) Transfer of Unused Funds.— If there is a balance remaining in the State and Local Implementation Fund on September 30, 2022, the Secretary of the Treasury shall transfer such balance to the general fund of the Treasury, where such balance shall be dedicated for the sole purpose of deficit reduction.
1 of 1 references resolved to an enrolled provision