§3734. Annual submission of information on the Loan Guaranty Revolving Fund and the Guaranty and Indemnity Fund

(a) In the documents providing detailed information on the budget for the Department of Veterans Affairs that the Secretary submits to the Congress in conjunction with the President's budget submission for each fiscal year pursuant to section 1105 of title 31, United States Code, the Secretary shall include-

(1) a description of the operations of the Loan Guaranty Revolving Fund and the Guaranty and Indemnity Fund during the fiscal year preceding the fiscal year in which such budget is submitted; and

(2) the needs of such funds, if any, for appropriations in-

(A) the fiscal year in which the budget is submitted; and

(B) the fiscal year for which the budget is submitted.

(b) The matters submitted under subsection (a) of this section shall include, with respect to each fund referred to in subsection (a), the following:

(1) Information and financial data on the operations of the fund during the fiscal year before the fiscal year in which such matters are submitted and estimated financial data and related information on the operation of the fund for-

(A) the fiscal year of the submission; and

(B) the fiscal year following the fiscal year of the submission.

(2) Estimates of the amount of revenues derived by the fund in the fiscal year preceding the fiscal year of the submission, in the fiscal year of the submission, and in the fiscal year following the fiscal year of the submission from each of the following sources:

(A) Fees collected under section 3729(a) of this title for each category of loan guaranteed, insured, or made under this chapter or collected under section 3729(b) of this title for assumed loans.

(B) Federal Government contributions made under clauses (A) and (B) of section 3725(c)(2) of this title.

(C) Federal Government payments under subsections (a)(3) ¹ and (c)(2) of section 3729 of this title.

(D) Investment income.

(E) Sales of foreclosed properties.

(F) Loan asset sales.

(G) Each additional source of revenue.

(3) Information, for each fiscal year referred to in paragraph (2) of this subsection, regarding the types of dispositions made and anticipated to be made of defaults on loans guaranteed, insured, or made under this chapter, including the cost to the fund, and the numbers, of such types of dispositions.

(Added Pub. L. 101–237, title III, §302(b)(1), Dec. 18, 1989, 103 Stat. 2070 , §1834; renumbered §3734 and amended Pub. L. 102–83, §5(a), (c)(1), Aug. 6, 1991, 105 Stat. 406 .)

References in Text

Subsection (a)(3) of section 3729 of this title, referred to in subsec. (b)(2)(C), was repealed by Pub. L. 102–54, §15(a)(3), June 13, 1991, 105 Stat. 289 , and former subsec. (a)(5) of section 3729 was redesignated as subsec. (a)(3).

Amendments

1991-Pub. L. 102–83, §5(a), renumbered section 1834 of this title as this section.

Subsec. (b)(2). Pub. L. 102–83, §5(c)(1), substituted "3729(a)" for "1829(a)" and "3729(b)" for "1829(b)" in subpar. (A), "3725(c)(2)" for "1825(c)(2)" in subpar. (B), and "3729" for "1829" in subpar. (C).

¹ See References in Text note below.