At the written request of a Senator, the Director shall, to the extent practicable, prepare an estimate of the direct costs of a Federal intergovernmental mandate contained in an amendment of such Senator.
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Source location: Title 2, Chapter 17A, § 661a; chapter-17a-congressional-budget-and-fiscal-operations.md
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At the written request of a Senator, the Director shall, to the extent practicable, prepare an estimate of the direct costs of a Federal intergovernmental mandate contained in an amendment of such Senator.
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Federal law — U.S. Code and appendices · legal_authorities
§ 661a. Definitions
For purposes of this subchapter—
(1) The term ‘‘direct loan’’ means a disburse-
ment of funds by the Government to a non-
Federal borrower under a contract that re-
quires the repayment of such funds with or
without interest. The term includes the pur-
chase of, or participation in, a loan made by
another lender and financing arrangements
that defer payment for more than 90 days, in-
cluding the sale of a government 1 asset on
credit terms. The term does not include the
acquisition of a federally guaranteed loan in
satisfaction of default claims or the price sup-
port loans of the Commodity Credit Corpora-
tion.
(2) The term ‘‘direct loan obligation’’ means
a binding agreement by a Federal agency to
make a direct loan when specified conditions
are fulfilled by the borrower.
(3) The term ‘‘loan guarantee’’ means any
guarantee, insurance, or other pledge with re-
spect to the payment of all or a part of the
principal or interest on any debt obligation of
a non-Federal borrower to a non-Federal lend-
er, but does not include the insurance of de-
posits, shares, or other withdrawable accounts
in financial institutions.
(4) The term ‘‘loan guarantee commitment’’
means a binding agreement by a Federal agen-
cy to make a loan guarantee when specified
conditions are fulfilled by the borrower, the
lender, or any other party to the guarantee
agreement.
(5)(A) The term ‘‘cost’’ means the estimated
long-term cost to the Government of a direct
loan or loan guarantee or modification there-
of, calculated on a net present value basis, ex-
cluding administrative costs and any inci-
dental effects on governmental receipts or
outlays.
(B) The cost of a direct loan shall be the net
present value, at the time when the direct
loan is disburse