United States Code (Last Updated: May 24, 2014) |
Title 31. MONEY AND FINANCE |
SubTitle III. FINANCIAL MANAGEMENT |
Chapter 37. CLAIMS |
SubChapter II. CLAIMS OF THE UNITED STATES GOVERNMENT |
§ 3720B. Barring delinquent Federal debtors from obtaining Federal loans or loan insurance guarantees
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(a) Unless this subsection is waived by the head of a Federal agency, a person may not obtain any Federal financial assistance in the form of a loan (other than a disaster loan or a marketing assistance loan or loan deficiency payment under subtitle C of the Agricultural Market Transition Act (7 U.S.C. 7231 et seq.)) or loan insurance or guarantee administered by the agency if the person has an outstanding debt (other than a debt under the Internal Revenue Code of 1986) with any Federal agency which is in a delinquent status, as determined under standards prescribed by the Secretary of the Treasury. Such a person may obtain additional loans or loan guarantees only after such delinquency is resolved in accordance with those standards. The Secretary of the Treasury may exempt, at the request of an agency, any class of claims. (b) The head of a Federal agency may delegate the waiver authority under subsection (a) to the Chief Financial Officer of the agency. The waiver authority may be redelegated only to the Deputy Chief Financial Officer of the agency.
References In Text
The Agricultural Market Transition Act, referred to in subsec. (a), is title I of Pub. L. 104–127,
The Internal Revenue Code of 1986, referred to in subsec. (a), is classified to Title 26, Internal Revenue Code.
Amendments
2000—Subsec. (a). Pub. L. 106–387 inserted “or a marketing assistance loan or loan deficiency payment under subtitle C of the Agricultural Market Transition Act (7 U.S.C. 7231 et seq.)” after “disaster loan”.
Effective Date Of Amendment
Pub. L. 106–387, § 1(a) [title VIII, § 845(c)],
Miscellaneous
Pub. L. 106–387, § 1(a) [title VIII, § 845(b)],