Page:United States Statutes at Large Volume 94 Part 1.djvu/677

 PUBLIC LAW 96-294—JUNE 30, 1980

94 STAT. 627

"(g)(1) No authority contained in this section may be exercised to acquire any amount of synthetic fuel unless the President determines that such synthetic fuel is needed to meet national defense needs and that it is not anticipated that such synthetic fuel will be resold by the Government. "(2) In any case in which synthetic fuel is acquired by the Government under this section, such synthetic fuel is no longer needed to meet national defense needs, and such synthetic fuel is not accepted by a Federal agency pursuant to subsection (e)(?), the President shall offer such synthetic fuel to the Secretary of Energy for purposes of meeting the storage requirements of the Strategic Petroleum Reserve. "(3) Any synthetic fuel which is acquired by the Government under this section and which is not used by the Government or accepted by the Secretary of Energy pursuant to paragraph (2), shall be sold in accordance with applicable Federal law. "(h)(1) Any contract under this section, including any amendment or other modification of such contract, shall, subject to the availability of unencumbered appropriations in advance, specify in dollars the maximum liability of the Federal Government under such contract as determined in accordance with paragraph (2). "(2) For the purpose of determining the maximum liability under Contracts, any contract under paragraph (1)— i^lyn^"^ "(A) loans shall be valued at the initial face value of the loan; ^^ ^ ^ y"(B) guarantees shall be valued at the initial face value of such guarantee (including any amount of interest which is guaranteed under such guarantee); "(C) purchase agreements shall be valued as of the date of each such contract based upon the President's estimate of the maximum liability under such contract; "(D) contracts for activities under subsection (c)(l)(A)(v) shall be valued at the initial face value of such contract; "(E) Government synthetic fuel projects pursuant to subsection (c)(l)(A)(vi) shall be valued at the current estimated cost to the Government, as determined annually by the President; and "(F) any increase in the liability of the Government pursuant to any amendment or other modification to a contract for a loan, guarantee, purchase agreement, contract for activities under subsection (c)(l)(A)(v), or Government synthetic fuel project pursuant to subsection (c)(l)(A)(vi) shall be valued in accordance with the applicable preceding subparagraph. "(3) If more than one form of assistance is provided under this section to any synthetic fuel project then the maximum liability under such contract for purposes of paragraphs (1) and (2) shall be valued at the maximum potential exposure on such project at any time during the life of such project. "(4) Any such contract shall be accompanied by a certification by the Director of the Office of Management and Budget that the necessary appropriations have been made for the purpose of such contract and are available. The remaining available and unencumbered appropriations shall equal the total aggregate appropriations less the aggregate maximum liability of the Federal Government under all contracts pursuant to this section. "(5) Any commitment made under this section which is nullified or voided for any reason shall not be considered in the aggregate maximum liability for the purposes of paragraph (4).

�