the Secretary shall pay such excess to the obligor.
49 U.S.C. § 22403
EDITORIAL NOTES
CODIFICATIONThe text of section 823 of Title 45, Railroads, which was transferred to this section and amended by Pub. L. 117-58, div. B, title I, §21301(a)(5), (e), was based on Pub. L. 94-210, title V, §503, as added and amended Pub. L. 105-178, title VII, §7203(a)(1), (4), June 9, 1998, 112 Stat. 475, 477; Pub. L. 109-59, title IX, §9003(h), (i), Aug. 10, 2005, 119 Stat. 1923; Pub. L. 114-94, div. A, title XI, §11605(b), Dec. 4, 2015, 129 Stat. 1695; Pub. L. 115-56, div. D, §164(b), as added Pub. L. 115-123, div. B, §20101(2), Feb. 9, 2018, 132 Stat. 121.
AMENDMENTS2021- Pub. L. 117-58, §21301(a)(5), transferred text of section 823 of Title 45, Railroads, to this section.Subsec. (a). Pub. L. 117-58, §21301(e)(1), designated existing provisions as par. (1), inserted heading, substituted "section 22402" for "section 502", and added par. (2).Subsecs. (b), (c). Pub. L. 117-58, §21301(e)(4)(A), substituted "section 22402" for "section 502".Subsec. (d)(3). Pub. L. 117-58, §21301(e)(2), substituted "section 22402(f)" for "section 502(f)".Subsecs. (e), (f). Pub. L. 117-58, §21301(e)(4)(B), substituted "this chapter" for "this title". Subsecs. (g), (h)(1). Pub. L. 117-58, §21301(e)(4)(A), substituted "section 22402" for "section 502".Subsec. (i). Pub. L. 117-58, §21301(e)(4)(A), substituted "section 22402" for "section 502" in two places in introductory provisions.Subsec. (j). Pub. L. 117-58, §21301(e)(4)(B), substituted "this chapter" for "this title". Subsec. (l)(3)(A). Pub. L. 117-58, §21301(e)(4)(B), substituted "this chapter" for "this title".Subsec. (l)(3)(B). Pub. L. 117-58, §21301(e)(4)(B), substituted "this chapter" for "this title". Pub. L. 117-58, §21301(e)(3), substituted "servicing a direct loan" for "serving a direct loan".Subsec. (m). Pub. L. 117-58, §21301(e)(4), substituted "section 22402" for "section 502" and "this chapter" for "this title".
- cost
- The term "cost" means the estimated long-term cost to the Government of a direct loan or loan guarantee or modification thereof, calculated on a net present value basis, excluding administrative costs and any incidental effects on governmental receipts or outlays.