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Federal Credit Reform Act


FEDERAL CREDIT REFORM ACT OF 1990
Title V of the Congressional Budget Act of 1990
Sec. 500. Short Title.
Sec. 501. Purposes
Sec. 502. Definitions
(1) The term "direct loan"
(2) The term "direct loan obligation"
(3) The term "loan guarantee"
(4) The term "loan guarantee commitment"
(5) The term "cost" means estimated long-term
(A) The term "cost"
(B) The cost of a direct loan
(C) The cost of a loan guarantee
(D) The cost of a modification is
(E) In estimating net present values, the discount rate shall be
(F) When funds are obligated for a direct loan or loan guarantee, the estimated cost shall be
(6) The term "credit program account"
(7) The term "financing account"
(8) The term "liquidating account"
(9) The term "modification"
(10) The term "current"
(11) The term "Director"
Sec. 503. OMB and CBO Analysis, Coordination, and Review
(a) In General
(b) Delegation
(c) Coordination with The Congressional Budget Office
(d) Improving Cost Estimates
(e) Historical Credit Programs Costs
(f) Administrative Costs
Sec. 504. Budgetary Treatment
(a) President's Budget
(b) Appropriations Required
(c) Exemption for Mandatory Programs
(d) Budget Accounting
(1) The authority to incur new direct loan obligations, make new loan guarantee commitments, or modify outstanding direct loans (or direct loan obligations) or loan guarantees (or loan guarantee commitments)
(2) The outlays resulting from new budget authority for the cost of direct loans or loan guarantees described in paragraph (1) shall be paid from the credit program account
(3) All collections and payments of the financing accounts shall be a means of financing
(e) Modifications
(f) Reestimates
(g) Administrative Expenses
Sec. 505. Authorizations
(a) Authorization of Appropriations for Costs
(b) Authorization for Financing Accounts
(c) Treasury Transactions with the Financing Accounts
(d) Authorization for Liquidating Accounts
(1) Amounts in liquidating accounts shall be available only for
(2) Amounts credited to liquidating accounts in any year shall be available
(3) If funds in liquidating accounts are insufficient
(e) Authorization of Appropriations for Implementation Expenses
(f) Reinsurance
(g) Eligibility and Assistance
Sec. 506. Treatment of Deposit Insurance and Agencies and Other Insurance Programs
(a) In General
(b) Study
(c) Access to Data
Sec. 507. Effect on Other Laws
(a) Effect on Other Laws
(b) Crediting of Collections


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   Last Updated:  March 14, 2014