SUBCHAPTER V—ASBESTOS SCHOOL HAZARD ABATEMENT
§4011. Findings and purpose
(a) Findings
The Congress finds that—
(1) exposure to asbestos fibers has been identified over a long period of time and by reputable medical and scientific evidence as significantly increasing the incidence of cancer and other severe or fatal diseases, such as asbestosis;
(2) medical evidence has suggested that children may be particularly vulnerable to environmentally induced cancers;
(3) medical science has not established any minimum level of exposure to asbestos fibers which is considered to be safe to individuals exposed to the fibers;
(4) substantial amounts of asbestos, particularly in sprayed form, have been used in school buildings, especially during the period 1946 through 1972;
(5) partial surveys in some States have indicated that (A) in a number of school buildings materials containing asbestos fibers have become damaged or friable, causing asbestos fibers to be dislodged into the air, and (B) asbestos concentration far exceeding normal ambient air levels have been found in school buildings containing such damaged materials;
(6) the presence in school buildings of friable or easily damaged asbestos creates an unwarranted hazard to the health of the school children and school employees who are exposed to such materials;
(7) the Department of Health and Human Services and the Environmental Protection Agency, as well as several States, have attempted to publicize the potential hazards to school children and employees from exposure to asbestos fibers, but there is no systematic program for remedying hazardous conditions in schools;
(8) because there is no Federal health standard regulating the concentration of asbestos fibers in noncommercial workplace environments such as schools, school employees and students may be exposed to hazardous concentrations of asbestos fibers in the school buildings which they use each day;
(9) without a program of information distribution, technical and scientific assistance, and financial support, many local educational agencies and States will not be able to mitigate the potential asbestos hazards in their schools; and
(10) the effective regulation of interstate commerce for the protection of the public health requires the establishment of programs under this subchapter to mitigate hazards from exposure to asbestos fibers and materials emitting such fibers.
(b) Purpose
It is the purpose of this subchapter to—
(1) direct the Administrator of the Environmental Protection Agency to establish a program to assist States and local educational agencies to ascertain the extent of the danger to the health of school children and employees from asbestos materials in schools;
(2) provide continuing scientific and technical assistance to State and local agencies to enable them to identify and abate asbestos hazards in schools;
(3) provide financial assistance for the abatement of asbestos threats to the health and safety of school children or employees; and
(4) assure that no employee of any local educational agency suffers any disciplinary action as a result of calling attention to potential asbestos hazards which may exist in schools.
(
Editorial Notes
Amendments
1990—
Subsecs. (a), (b).
Statutory Notes and Related Subsidiaries
Short Title of 1990 Amendment
Short Title
S
Findings and Purposes
"(a)
"(1) The Environmental Protection Agency has estimated that more than forty-four thousand school buildings contain friable asbestos, exposing more than fifteen million school children and one million five hundred thousand school employees to unwarranted health hazards.
"(2) All elementary and secondary schools are required by the Asbestos Hazard Emergency Response Act [of 1986, see Short Title of 1986 Amendment note set out under
"(3) The Environmental Protection Agency has estimated it will cost local education agencies more than $3,000,000,000 to comply with the Asbestos Hazard Emergency Response Act.
"(4) Without a continuing program of information assistance, technical and scientific assistance, training, and financial support, many local educational agencies will be unable to carry out sufficient response actions to prevent the release of asbestos fibers into the air.
"(5) Without the provisions of sufficient financial support, the cost to local educational agencies of implementing asbestos response actions may have an adverse impact in their educational mission.
"(6) The effective regulation of interstate commerce for the protection of human health and the environment requires the continuation of programs to mitigate hazards of asbestos fibers and materials emitting such fibers.
"(b)
"(1) To direct the Environmental Protection Agency to maintain a program to assist local schools in carrying out their responsibilities under the Asbestos Hazard Emergency Response Act.
"(2) To provide continuing scientific and technical assistance to State and local agencies to enable them to identify and abate asbestos health hazards.
"(3) To provide financial assistance to State and local agencies for training of persons involved with inspections and abatement of asbestos, for conducting necessary reinspections of school buildings, and for the actual abatement of asbestos threats to the health and safety of school children or employees.
"(4) To assure that no employee of a local educational agency suffers any disciplinary action as a result of calling attention to potential asbestos hazards which may exist in schools."
§4012. Asbestos hazard abatement program
(a) Abatement program
There is hereby established a program within the Environmental Protection Agency to be known as the Asbestos Hazards Abatement Program (hereinafter in this subchapter referred to as "Program").
(b) Duties
The duties of the Administrator in implementing and effectuating the Program shall include—
(1) the compilation of medical, scientific, and technical information including, but not limited to—
(A) the health and safety hazards associated with asbestos materials;
(B) the means of identifying, sampling, and testing materials suspected of emitting asbestos fibers; and
(C) the means of abating the threat posed by asbestos and asbestos containing materials;
(2) the distribution of the information described in paragraph (1) (in any appropriate form such as pamphlets, reports, or instructions) to State and local educational agencies and to other institutions, including parent and employee organizations, for the purpose of carrying out activities described in this subchapter;
(3) not later than November 15 of each year for which this subchapter is authorized, the development and distribution of applications, or notifications to all local educational agencies of the availability of application forms including information for obtaining such forms; and
(4) the review of applications for financial assistance, and the approval or disapproval of such applications, in accordance with the provisions of
(
Editorial Notes
Amendments
1990—
Subsec. (a).
Subsec. (b).
Subsec. (b)(2).
Subsec. (b)(3).
§4013. State records and priority lists
(a) Records
The Governor of each State shall maintain records on—
(1) the presence of asbestos materials in school buildings of local educational agencies;
(2) the asbestos detection and abatement activities and other response actions conducted by local educational agencies (including activities relating to the replacement of the asbestos materials removed from school buildings with other appropriate building materials); and
(3) repairs made to restore school buildings to conditions comparable to those which existed before the abatement activities referred to in paragraph (2) were undertaken.
(b) Priority list
(1) Each year, in accordance with procedures established by the Administrator, the Governor of each State shall:
(A) submit to the Administrator a priority list of all schools under the authority of a local educational agency within the State, without regard to the public or private nature of the school involved, that are candidates for abatement activities and other response actions; and
(B) forward to the Administrator for each candidate for abatement activities and other response actions all applications for financial assistance prepared by the local educational agencies in accordance with the provisions of
(2) The priority list shall rank the potential candidates for abatement action based on the nature and magnitude of the existing and potential exposure presented by the asbestos materials.
(3) For each school listed, the Governor shall certify that the statement of need contained in the application for assistance accurately reflects the financial resources available to the local educational agency for the asbestos abatement program.
(4) For the purpose of determining the adequacy of the financial resources available to a local educational agency for the abatement of asbestos threats the Governor shall, to the extent practicable, consider the following:
(A) A measure of financial need used by the State in which the local educational agency is located.
(B) The estimated per capita income of the locality of such agency or of those directly or indirectly providing financial support for such agency.
(C) The extent to which the local school millage rate falls above or below (i) the millage rate average of the State and (ii) the millage rate of other local educational agencies with comparable enrollment, per capita income, and resource base.
(D) The ratio, expressed as a percentage, of the estimated cost of the project to the total budget of the local educational agency.
(E) The borrowing capacity of the local educational agency.
(F) Any additional costs to the local educational agency of meeting the special needs of disadvantaged students.
(G) Any other factor that demonstrates that the local educational agency has limited financial resources.
(
Editorial Notes
Amendments
1990—
Subsec. (a).
Subsec. (a)(2).
Subsec. (a)(3).
Subsec. (b).
Subsec. (b)(1).
Subsec. (b)(1)(A).
Subsec. (b)(1)(B).
Subsec. (b)(1)(C).
Subsec. (b)(4)(C).
Subsec. (b)(4)(F), (G).
Subsec. (c).
1 So in original. Probably should end with a period instead of "; and".
§4014. Financial assistance
(a) Assistance Program
There is hereby established within the Environmental Protection Agency an Asbestos Hazards Abatement Assistance Program (hereinafter in this chapter referred to as the "Assistance Program"), which shall be administered in accordance with this section.
(b) Application submission
(1) Applications for financial assistance shall be submitted by a local educational agency to the Governor, or the Governor's designee, who shall establish a priority list based on the criteria of
(2) Pursuant to
(c) Review of application
(1) The Administrator shall provide financial assistance on a school-by-school basis to local educational agencies in accordance with other provisions of this section to carry out projects for—
(A) abating the threat posed by materials containing asbestos to the health and safety of children or employees;
(B) replacing the asbestos materials removed from school buildings with other appropriate building materials; and
(C) restoring school buildings to conditions comparable to those existing before abatement activities were undertaken pursuant to this section.
(2) The Administrator shall review and list in priority order applications for financial assistance. In ranking applications, the Administrator shall consider—
(A) the priority assigned to the abatement program by the Governor pursuant to
(B)(i) the likelihood of release of asbestos fibers into a school environment;
(ii) any other evidence of the risk caused by the presence of asbestos including, but not limited to, situations in which there is a substantial quantity of dry loose asbestos-containing material on horizontal surfaces or asbestos-containing material is substantially deteriorated or damaged, and there is asbestos-containing material in an air plenum or in a high traffic area, confined space, or within easy reach of a passerby;
(iii) the extent to which the corrective action proposed by the applicant will reduce the exposure of school children and school employees; and
(iv) the extent to which the corrective action proposed by the applicant uses the least burdensome methods which protect human health and the environment.
(3) In determining whether an applicant is eligible for assistance, and the nature and amount of financial assistance, the Administrator shall consider the financial resources available to the applicant as certified by the Governor pursuant to
(d) Limitation
In no event shall financial assistance be provided under this subchapter to an applicant if—
(1) the Administrator determines that such applicant has resources adequate to support an appropriate asbestos materials abatement program; or
(2) the applicant is not in compliance with title II of the Toxic Substances Control Act (
(e) Amount of loan or grant
(1) An applicant for financial assistance may be granted a loan of up to 100 percent of the costs of an abatement program or, if the Administrator determines the applicant is unable to undertake and complete an asbestos materials abatement program with a loan, such applicant may also receive a grant (alone or in combination with a loan) not to exceed 50 percent of the total costs of abatement, in the amount which the Administrator deems necessary.
(2) In approving any grant, the Administrator shall state with particularity the reasons why the applicant is unable to undertake and complete the abatement program with loan funds.
(f) Loan agreement
Loans under this section shall be made pursuant to agreements which shall provide for the following:
(1) the loan shall not bear interest;
(2) the loan shall have a maturity period of not more than twenty years (as determined by the Administrator) and shall be repayable during such period at such times and in such amounts as the Administrator may specify in the loan agreement;
(3) repayment shall be made to the Secretary of the Treasury for deposit in the Asbestos Trust Fund established by
(4) such other terms and conditions that the Administrator determines necessary to protect the financial interest of the United States.
(g) Application requirements
(1) No financial assistance may be provided under this section unless an application has been submitted to the Administrator in accordance with such procedures as may be developed by the Administrator.
(2) The Administrator shall not approve an application unless—
(A) the application contains such information as the Administrator may require, including but not limited to information describing—
(i) the nature and extent of the asbestos problem for which the assistance is sought;
(ii) the asbestos content of the material to be abated;
(iii) the methods which will be used to abate the asbestos materials;
(iv) the amount and type of financial assistance requested;
(v) a description of the financial resources of the local educational agency; and
(vi) a justification for the type and amount of the financial assistance requested.
(B) the application contains a certification that—
(i) the local educational agency has prepared and is implementing an asbestos management plan, as required under title II of the Toxic Substances Control Act (
(ii) all activities to be conducted with the financial assistance will be performed by individuals trained and accredited in conformance with title II of the Toxic Substances Control Act (
(C) the application contains assurances that the local educational agency will furnish such information as is necessary for the Administrator to make the report required by
(3) No financial assistance may be provided by the Administrator under this section for projects described in subsection (a)(2) on which abatement action was completed prior to January 1, 1984.
(4) Except as provided in
(
Editorial Notes
References in Text
The Toxic Substances Control Act, referred to in subsecs. (d)(2) and (g)(2)(B), is
Amendments
1990—
Subsec. (a).
Subsec. (b).
Subsec. (b)(1).
Subsec. (b)(2).
Subsec. (b)(3).
Subsec. (c).
Subsec. (c)(2)(A).
Subsec. (c)(2)(B)(ii).
Subsec. (c)(2)(B)(iv).
Subsec. (c)(3).
"(A) the financial resources available to the applicant as certified by the Governor pursuant to
"(B) the report, if any, of the Secretary of Education pursuant to
Subsec. (d).
Subsec. (e).
Subsec. (e)(1).
Subsec. (f).
Subsec. (f)(3).
Subsec. (g).
Subsec. (g)(1).
Subsec. (g)(2)(B)(i), (ii).
"(i) any employee engaged in an asbestos material abatement program will be trained and equipped pursuant to
"(ii) no child or inadequately informed or protected school employee will be permitted in the vicinity of any asbestos abatement activity;".
Subsec. (g)(3), (4).
"(A) No financial assistance may be provided under this section to any school—
"(i) which uses any person who has not been accredited pursuant to section 2646(b) or (c) of title 15, to carry out activities described in
"(ii) which uses any laboratory which has not been accredited pursuant to
"(B) This paragraph shall apply to any financial assistance provided under this section after October 22, 1986, for activities performed after the following dates:
"(i) In the case of activities performed by persons, after the date which is one year after October 22, 1986.
"(ii) In the case of activities performed by laboratories, after the date which is 180 days after the date on which a laboratory accreditation program is completed under
1988—Subsec. (g)(4)(B)(i).
Subsec. (g)(4)(B)(ii).
1986—Subsec. (g)(4).
Statutory Notes and Related Subsidiaries
Financial Assistance To Carry Out Inspections for Asbestos-Containing Material
§4015. Administrative provisions
(a) Regulations
The Administrator shall promulgate rules and regulations as necessary to implement the authorities and requirements of this subchapter.
(b) Procedures
The Administrator also shall establish procedures to be used by local educational agencies, in programs for which financial assistance is made available under
(1) abating asbestos materials in school buildings;
(2) replacing the asbestos materials removed from school buildings with other appropriate building materials; and
(3) restoring such school buildings to conditions comparable to those existing before asbestos containment or removal activities were undertaken.
(c) Relationship to other laws
Nothing contained in this subchapter shall be construed, interpreted, or applied to diminish in any way the level of protection required under any other State or Federal worker protection or other applicable laws.
(d) Other authority
In order to effectuate the purposes of this subchapter, the Administrator may also adopt such other procedures, standards, and regulations as the Administrator deems necessary, including—
(1) procedures for testing the level of asbestos fibers in schools, including safety measures to be followed in conducting such tests;
(2) standards for evaluating (on the basis of such tests) the likelihood of the leakage of asbestos fibers into the school environment; and
(3) periodic reporting with respect to the activities that have taken place using funds loaned or granted under this subchapter.
(
Editorial Notes
Amendments
1990—
Subsec. (a).
Subsec. (b).
"(1) procedures to be used by local educational agencies, in programs for which financial assistance is made available under
"(A) abating asbestos materials in school buildings;
"(B) replacing the asbestos materials removed from school buildings with other appropriate building materials; and
"(C) restoring such school buildings to conditions comparable to those existing before asbestos containment or removal activities were undertaken; and
"(2) within ninety days, standards for determining—
"(A) which contractors are qualified to carry out the activities referred to in paragraph (1), and
"(B) what training, equipment, protective clothing and other information and material must be supplied to adequately advise and protect school employees utilized to carry out the activities in paragraph (1).
"(3) nothing contained in this subchapter shall be construed, interpreted or applied to diminish in any way the level of protection required under State or Federal worker protection laws."
Subsec. (c).
Subsec. (d).
§4016. Annual report
During each calendar year until 1999, the Administrator shall prepare and submit, not later than June 1 of each year, to the Committee on Environment and Public Works of the Senate and to the Committee on Energy and Commerce of the House of Representatives a report on the loan and grant program authorized by
(1) describe the number of applications received;
(2) describe the number of loans and grants made in the preceding calendar year and specify each applicant for and recipient of a loan or grant;
(3) specify the number of loan or grant applications which were disapproved during the preceding calendar year and describe the reasons for such disapprovals;
(4) describe the types of programs for which loans or grants were made;
(5) specify the estimated total costs of such programs to the recipients of loans or grants and specify the amount of loans or grants made under the program authorized by this section; and
(6) estimate the number of schools still in need of assistance and the amount of resources needed by such schools, categorized by State, to abate all remaining asbestos hazards.
(
Editorial Notes
Amendments
1990—
Par. (6).
Statutory Notes and Related Subsidiaries
Change of Name
Committee on Energy and Commerce of House of Representatives treated as referring to Committee on Commerce of House of Representatives by section 1(a) of
§4017. Recovery of costs
(a) Loan condition
(1) As a condition of the award of any financial assistance under
(2) The proceeds from any judgment recovered in any suit brought by the United States under paragraph (1) (or, if the recipient files a similar suit on its own behalf, the proceeds from a judgment recovered by the recipient in such suit) shall be used to repay to the United States, by deposit in the Asbestos Trust Fund established by
(A) the amount (i) outstanding on any loan and (ii) of any grant made to the recipient; and
(B) an amount equal to the interest which would have been charged on such loan were the loan made by a commercial lender at prevailing interest rates (as determined by the Administrator).
(b) Expeditious recovery
The Attorney General shall, where appropriate, proceed in an expeditious manner to recover the amounts expended by the United States to carry out this subchapter from the persons identified by the Attorney General as being liable for such costs.
(
Editorial Notes
Amendments
1990—
Subsec. (a).
Subsec. (a)(1).
Subsec. (a)(2).
Subsec. (b).
§4018. Employee protection
No State or local educational agency receiving assistance under this subchapter may discharge any employee or otherwise discriminate against any employee with respect to the employee's compensation, terms, conditions, or privileges of employment because the employee has brought to the attention of the public information concerning any asbestos problem in the school buildings within the jurisdiction of such agency.
(
Editorial Notes
Amendments
1990—
§4019. Affect on rights under other laws
Except as otherwise provided in
(1) affect the right of any party to seek legal redress in connection with the purchase or installation of asbestos materials in schools or any claim of disability or death related to exposure to asbestos in a school setting; or
(2) affect the rights of any party under any other law.
(
Editorial Notes
Amendments
1990—
§4020. Definitions
For purposes of this subchapter:
(1) The term "asbestos" means—
(A) chrysotile, amosite, or crocidolite; or
(B) in fibrous form, tremolite, anthophyllite, or actinolite.
(2) The term "Attorney General" means the Attorney General of the United States.
(3) The term "threat" or "hazard" means that an asbestos material is friable or easily damaged, or within reach of students or employees or otherwise susceptible to damage (including damage from water, vibration, or air circulation) which could result in the dispersal of asbestos fibers into the school environment.
(4) The term "local educational agency" means—
(A) any local educational agency as defined in
(B) the governing authority of any nonprofit elementary or secondary school.
(5) The term "nonprofit elementary or secondary school" means—
(A) any elementary school or secondary school as defined in
(B) any school of any agency of the United States.
(6) The term "school buildings" means—
(A) structures suitable for use as classrooms, laboratories, libraries, school eating facilities, or facilities used for the preparation of food;
(B) any gymnasium or other facility which is specially designed for athletic or recreational activities for an academic course in physical education;
(C) other facilities used for the instruction of students, for research, or for the administration of educational or research programs; and
(D) maintenance, storage, or utility facilities essential to the operation of the facilities described in subparagraphs (A) through (C) of this paragraph.
(7) The term "Administrator" means the Administrator of the Environmental Protection Agency, or the Administrator's designee.
(8) The term "State" means each of the several States, the District of Columbia, the Commonwealth of Puerto Rico, Guam, American Samoa, the Virgin Islands, the Northern Mariana Islands, the Trust Territory of the Pacific Islands, and the Bureau of Indian Affairs.
(9) The term "response action" has the meaning given such term by
(
Editorial Notes
Amendments
2015—Par. (4)(A).
Par. (5)(A).
2002—Par. (4)(A).
Par. (5)(A).
1994—Par. (4)(A).
Par. (5)(A).
1990—
Pars. (1), (2).
Par. (3).
Par. (4).
Par. (5).
Pars. (6), (7).
Par. (8).
Par. (9).
Statutory Notes and Related Subsidiaries
Effective Date of 2015 Amendment
Amendment by
Effective Date of 2002 Amendment
Amendment by
Executive Documents
Termination of Trust Territory of the Pacific Islands
For termination of Trust Territory of the Pacific Islands, see note set out preceding
§4021. Authorization
(a) Amount; availability until expended
(1) There are hereby authorized to be appropriated for the asbestos abatement program not more than $200,000,000 for each of fiscal years 1991, 1992, 1993, 1994, and 1995. In addition, for such purposes and for each of such fiscal years there are authorized to be appropriated out of the Asbestos Trust Fund established by
(2) The sums appropriated under this subchapter shall remain available until expended.
(b) Minimum State amount; fiscal year obligation requirement; reserved funds for administration and asbestos abatement oriented program expenditures; appropriations out of Asbestos Trust Fund
(1) A State with qualified applicants shall receive no less than one-half of 1 per centum of the sums appropriated under this subchapter or the total of the amounts requested by such applicants, whichever is less. Those amounts available in each fiscal year under this paragraph shall be obligated before the end of that fiscal year. For the purposes of this paragraph the term "State" means each of the several States, the District of Columbia, the Commonwealth of Puerto Rico, the Bureau of Indian Affairs and, taken together, Guam, American Samoa, the Virgin Islands, the Northern Mariana Islands, and the Trust Territory of the Pacific Islands.
(2) Of those sums appropriated for the implementation of this subchapter, not more than 5 percent may be reserved during each fiscal year for the administration of this subchapter and for programs including (but not limited to) the following:
(A) The establishment of training centers for contractors, engineers, school employees, parents, and other personnel to provide instruction, in accordance with title II of the Toxic Substances Control Act (
(B) The development and dissemination of abatement guidance documents to assist in evaluation of potential hazards and the determination of proper abatement programs.
(C) The development of rules and regulations regarding inspection, reporting, and recordkeeping.
(D) The development of a comprehensive testing and technical assistance program.
(3) Of those sums appropriated for any fiscal year for the implementation of this subchapter, the Administrator may use not more than 5 percent to provide grants to States for the following purposes:
(A) Assisting local educational agencies in performing the periodic reinspections and training activities required under title II of the Toxic Substances Control Act (
(B) Establishing and maintaining programs to accredit personnel performing asbestos inspections and response actions.
(
Editorial Notes
References in Text
The Toxic Substances Control Act, referred to in subsec. (b)(2)(A), (3)(A), is
Amendments
1990—
Subsec. (a)(1).
Subsec. (b)(2).
"(A) the establishment of a training center for contractors, engineers, school employees, parents and other personnel to provide instruction on asbestos assessment and abatement;
"(B) the development and dissemination of abatement guidance documents to assist in evaluation of potential hazards, and the determination of proper abatement programs;
"(C) the development of rules and regulations regarding inspection, reporting and record-keeping; and
"(D) the development of a comprehensive testing and technical assistance program."
Subsec. (b)(3).
1988—
1986—
Executive Documents
Termination of Trust Territory of the Pacific Islands
For termination of Trust Territory of the Pacific Islands, see note set out preceding
§4022. Asbestos Trust Fund
(a) Creation of Trust Fund
There is established in the Treasury of the United States a trust fund to be known as the "Asbestos Trust Fund", consisting of such amounts as may be transferred or credited to such Trust Fund as provided in this section.
(b) Transfers to Trust Fund
(1) Transfer
There are hereby transferred to the Asbestos Trust Fund amounts equivalent to—
(A) amounts received in the Treasury on or after January 1, 1987, as repayments of loans made under
(B) amounts received as deposits from local educational agencies under
(C) amounts received as proceeds from any judgment recovered in any suit brought pursuant to
(2) Monthly transfers
The amounts transferred by paragraph (1) shall be transferred at least monthly from the general fund of the Treasury to the Asbestos Trust Fund on the basis of estimates made by the Secretary of the Treasury of the amounts referred to in such paragraph. Adjustments shall be made in the amounts subsequently transferred to the extent prior estimates were more or less than the amounts required to be transferred.
(c) Management of Trust Fund
(1) Investment
(A) In general
The Secretary of the Treasury shall invest such portion of the Asbestos Trust Fund as is not, in his judgment, required to meet current withdrawals. Such investments may be made only in interest-bearing obligations of the United States and may be acquired—
(i) on original issue at the issue price, or
(ii) by purchase of outstanding obligations at the market price.
(B) Sale of obligations
Any obligation acquired by the Asbestos Trust Fund may be sold by the Secretary of the Treasury at the market price.
(C) Interest on certain proceeds
The interest on, and the proceeds from the sale or redemption of, any obligations held in the Asbestos Trust Fund shall be credited to and form a part of the Trust Fund.
(2) Repealed. Pub. L. 104–66, title I, §1131(c), Dec. 21, 1995, 109 Stat. 725
(d) Expenditures from Asbestos Trust Fund
Amounts in the Asbestos Trust Fund shall be available, as provided by appropriation Acts, only for purposes of carrying out the Asbestos Hazards Abatement Assistance Program under
(e) Authority to borrow
(1) In general
There are authorized to be appropriated to the Asbestos Trust Fund, as repayable advances, $25,000,000 for each of fiscal years 1987, 1988, 1989, and 1990.
(2) Repayment of advances
(A) In general
Advances made under this subsection shall be repaid, and interest on such advances shall be paid, to the general fund of the Treasury when the Secretary determines that moneys are available for such purposes in the Asbestos Trust Fund.
(B) Rate of interest
Interest on advances made under this subsection shall be at a rate determined by the Secretary (as of the close of the calendar month preceding the month in which the advance is made) to be equal to the current average market yield on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the anticipated period during which the advance will be outstanding and shall be compounded annually.
(f) Effective date
The amendments made by this section shall take effect on January 1, 1986.
(
Editorial Notes
Codification
Section was enacted as part of the Asbestos Hazard Emergency Response Act of 1986, and not as part of the Asbestos School Hazard Abatement Act of 1984 which comprises this subchapter nor as part of the Education for Economic Security Act which comprises this chapter.
Amendments
1995—Subsec. (c)(2).
1990—Subsec. (b)(1).
Subsec. (d).