Page:United States Statutes at Large Volume 94 Part 1.djvu/718

 94 STAT. 668

Ante, p. 644.

PUBLIC LAW 96-294—JUNE 30, 1980 curred before such date under such section, up to a maximum of $3,000,000,000; and (ii) as are obligated from the Energy Security Reserve by the Department of Energy pursuant to the Federal NonNuclear Energy Research and Development Act of 1974 (Public Law 93-577; 42 U.S.C. 5901 et seq.), up to a maximum of $2,208,000,000. (2) Such aggregate principal amounts shall become available to the Corporation upon the date of enactment of this part or under paragraph (1)(A) upon satisfying the requirements of section 126. (b) The Corporation shall not issue any note or other obligation to the Secretary of the Treasury without prior consultation with the Secretary of the Treasury. LIMITATIONS ON TOTAL AMOUNT OF OBLIGATIONAL AUTHORITY

42 USC 8752.

Ante, p. 619.

SEC. 152. (a) The Corporation may not incur obligations or make commitments, including administrative expenses pursuant to section 120 and operating expenses, in excess of the aggregate principal amount of $20,000,000,000— (1) plus such sums, if any, as are authorized pursuant to section 126; and (2) less such sums— (A) as are obligated for purposes of carrying out section 305 of the Defense Production Act of 1950 before the date determined under section 305(k)(l) of the Defense Production Act of 1950 or are required to be reteiined as a reserve against a contingent obligation incurred before such date under such section, up to a maximum of $3,000,000,000; and (B) as are obligated from the Energy Security Reserve by the Department of Energy pursuant to the Federal NonNuclear Energy Research and Development Act of 1974 (Public Law 93-577; 42 U.S.C. 5901 et seq.) up to a maximum of $2,208,000,000. (b)(1) For purposes of determining the Corporation's compliance with this section— (A) loans shall be counted at the initial face value of the loan plus such amounts as are subsequently obligated pursuant to section 132(a)(3); (B) loan guarantees shall be counted at the initial face value of such loan guarantee (including any amount of interest which is guaranteed under such loan guarantee) plus such amounts as are subsequently obligated pursuant to section 133(a)(3); (C) price guarantees and purchase agreements shall be valued by the Corporation as of the date of each such contract, based upon the Corporation's estimate of its maximum potential liability; (D) joint ventures and Corporation construction projects shall be valued at the current estimated cost to the Corporation, as determined smnually by the Corporation; and (E) any increase in the liability of the Corporation pursuant to any amendment or other modification to a contract for a loan, loan guarantee, price guarantee, purchase agreement, joint venture, or Corporation construction project shall be counted. (2) Determinations made under paragraph (1) shall be made in accordance ^vith generally accepted accounting principles, consistently applied.

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