§2008b. Limited transfer authority of loan amounts
(a) Transfer of funds
If the sums appropriated for direct loans for the water and waste or community facility program authorized under section 1926(a) of this title and made available to any eligible State (within the meaning of section 2008(b)(3) of this title) under such program for the fiscal year are insufficient to enable the Secretary to provide the full amount of the assistance requested for a project specified in section 2008(c)(4) of this title, the Secretary may transfer, subject to subsection (b) of this section, to one program from the other such program part or all of the sums appropriated for loans made available to the State for such other program.
(b) Limitation on loan amounts transferred
(1) Amounts transferred within certain States
With regard to each eligible State (within the meaning of section 2008(b)(3) of this title), the amount of direct loan funds transferred from a program under this section shall not exceed the amount for such program left unobligated after obligating to each project in an application ranked higher in priority on the list described in section 2008a(b)(6) of this title the full amount of assistance requested for each such project.
(2) Amounts transferred on national basis
With regard to all such eligible States, the amount of direct loan funds transferred in a fiscal year from a program under this section (after accounting for any offsetting transfers into such program) shall not exceed $9,000,000.
(Pub. L. 87 128, title III, §367, as added Pub. L. 101 624, title XXIII, §2317, Nov. 28, 1990,
Amendments
1991-Subsec. (b)(1). Pub. L. 102 237 substituted "section 2008a(b)(6)" for "section 2008(b)(6)".
Effective Date of 1991 Amendment
Amendment by Pub. L. 102 237 effective as if included in the provision of the Food, Agriculture, Conservation, and Trade Act of 1990, Pub. L. 101 624, to which the amendment relates, see section 1101(b)(6) of Pub. L. 102 237, set out as a note under section 1421 of this title.
Effective Date
Section effective Oct. 1, 1991, see section 2007(d) of this title.
Section Referred to in Other Sections
This section is referred to in sections 2007, 6943 of this title.