§ 4534. Defense Production Act Fund

• (a) There is established in the Treasury of the United States a separate fund to be known as the “Defense Production Act Fund” (in this section referred to as the “Fund”).
• (b) There shall be credited to the Fund—
  • (1) all moneys appropriated for the Fund, as authorized by section 4561 of this title ; and
  • (2) all moneys received by the Fund on transactions entered into pursuant to section 4533 of this title .
• (c) The Fund shall be available to carry out the provisions and purposes of this subchapter, subject to the limitations set forth in this chapter and in appropriations Acts.
• (d) Moneys in the Fund shall remain available until expended.
• (e) The Fund balance at the close of each fiscal year shall not exceed $750,000,000, excluding any moneys appropriated to the Fund during that fiscal year or obligated funds. If, at the close of any fiscal year, the Fund balance exceeds $750,000,000, the amount in excess of $750,000,000 shall be paid into the general fund of the Treasury.
• (f) The President shall designate a Fund manager. The duties of the Fund manager shall include—
  • (1) determining the liability of the Fund in accordance with subsection (g);
  • (2) ensuring the visibility and accountability of transactions engaged in through the Fund; and
  • (3) reporting to the Congress each year regarding activities of the Fund during the previous fiscal year.
• (g) When any agreement entered into pursuant to this subchapter after December 31, 1991 , imposes any contingent liability upon the United States, such liability shall be considered an obligation against the Fund.