42 U.S.C. § 606 | Federal loans for State welfare programs

(a)

Loan authority

(1)

In general

The Secretary shall make loans to any loan-eligible State, for a period to maturity of not more than 3 years.

(2)

Loan-eligible State

section 609(a)(1) of this titleAs used in paragraph (1), the term “loan-eligible State” means a State against which a penalty has not been imposed under .

(b)

Rate of interest

The Secretary shall charge and collect interest on any loan made under this section at a rate equal to the current average market yield on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the period to maturity of the loan.

(c)

Use of loan

section 603(a) of this titleA State shall use a loan made to the State under this section only for any purpose for which grant amounts received by the State under may be used, including—

(1)

welfare anti-fraud activities; and

(2)

section 612 of this title the provision of assistance under the State program to Indian families that have moved from the service area of an Indian tribe with a tribal family assistance plan approved under .

(d)

Limitation on total amount of loans to State

The cumulative dollar amount of all loans made to a State under this section during fiscal years 1997 through 2003 shall not exceed 10 percent of the State family assistance grant.

(e)

Limitation on total amount of outstanding loans

The total dollar amount of loans outstanding under this section may not exceed $1,700,000,000.

(f)

Appropriation

Out of any money in the Treasury of the United States not otherwise appropriated, there are appropriated such sums as may be necessary for the cost of loans under this section.

Aug. 14, 1935, ch. 531 Pub. L. 104–193, title I, § 103(a)(1)Aug. 22, 1996110 Stat. 2128 Pub. L. 105–33, title V, § 5514(c)Aug. 5, 1997111 Stat. 620 Pub. L. 108–40, § 3(f)June 30, 2003117 Stat. 837 (, title IV, § 406, as added , , ; amended , , ; , , .)

Editorial Notes

Prior Provisions

Aug. 14, 1935, ch. 531 49 Stat. 629 Aug. 10, 1939, ch. 666 53 Stat. 1380 Aug. 28, 1950, ch. 809 64 Stat. 551 Aug. 1, 1956, ch. 836 70 Stat. 850 July 25, 1962Pub. L. 87–543, title I76 Stat. 185 Oct. 13, 1964Pub. L. 88–641, § 2(a)78 Stat. 1042 July 30, 1965Pub. L. 89–97, title IV, § 40979 Stat. 422 Jan. 2, 1968Pub. L. 90–248, title II81 Stat. 880 Jan. 4, 1975Pub. L. 93–64788 Stat. 2348 Nov. 12, 1977Pub. L. 95–171, § 3(a)(2)91 Stat. 1354 Dec. 28, 1980Pub. L. 96–611, § 494 Stat. 3567 Aug. 13, 1981Pub. L. 97–35, title XXI, § 2184(b)(2)95 Stat. 817 Sept. 3, 1982Pub. L. 97–248, title I, § 153(a)96 Stat. 396 July 18, 1984Pub. L. 98–369, div. B, title III, § 2361(c)98 Stat. 1104 Aug. 16, 1984Pub. L. 98–378, § 20(a)98 Stat. 1322 Pub. L. 104–193, § 103(a)(1)Pub. L. 105–33, title V, § 5514(c)Aug. 5, 1997111 Stat. 620 A prior section 606, acts , title IV, § 406, ; , title IV, § 403, ; , title III, pt. 2, § 323(a), ; , title III, §§ 321, 322, 351(b), , 855; , , §§ 104(a)(3)(D), 108(a), 109, 152, 156(b), , 189, 190, 206, 207; , , ; , , ; , , §§ 201(f), 206(b), 207(a), 241(b)(5), , 893, 916; , , §§ 3(a)(5), 101(c)(7), , 2360; , , ; , , ; , , title XXIII, §§ 2311, 2312, 2317(b), 2353(b)(1), , 852, 853, 856, 872; , , ; , , title VI, § 2663(c)(3)(A), (B)(i), , 1166; , , , related to definitions used in this part, prior to repeal by , as amended by , , .

Amendments

Pub. L. 108–402003—Subsec. (d). substituted “2003” for “2002”.

Pub. L. 105–33 Pub. L. 104–193, § 103(a)(1)1997— made technical amendment to directory language of , which enacted this section.

Statutory Notes and Related Subsidiaries

Effective Date of 2003 Amendment

Pub. L. 108–40July 1, 2003section 8 of Pub. L. 108–40 section 603 of this titleAmendment by effective , see , set out as a note under .

Effective Date of 1997 Amendment

Pub. L. 105–33 Pub. L. 104–193 section 5518(d) of Pub. L. 105–33 section 862a of Title 21Amendment by effective as if included in the provision of amended at the time the provision became law, see , set out as a note under , Food and Drugs.

Effective Date

July 1, 1997section 116 of Pub. L. 104–193 section 601 of this titleSection effective , with transition rules relating to State options to accelerate such date, rules relating to claims, actions, and proceedings commenced before such date, rules relating to closing out of accounts for terminated or substantially modified programs and continuance in office of Assistant Secretary for Family Support, and provisions relating to termination of entitlement under AFDC program, see , as amended, set out as a note under .