(a)
(1) Amounts realized from a transfer pursuant to section 8122(a)(2)(C) 1 of this title shall be administered as a revolving fund and shall be available without fiscal year limitation.
(2) The revolving fund shall be deposited in a checking account with the Treasurer of the United States.
(b)
(1) The expenditure of funds from the revolving fund may be made only for the construction, alteration, and acquisition (including site acquisition) of nursing home facilities and may be made only as provided for in appropriation Acts.
(2) For the purpose of section 8104(a)(2) of this title, a bill, resolution, or amendment which provides that funds in the revolving fund may be expended for a project involving a total expenditure of more than $2,000,000 for the construction, alteration, or acquisition (including site acquisition) of a nursing home facility shall be considered to be a bill, resolution, or amendment making an appropriation which may be expended for a major medical facility project.
Repeal of Section
Pub. L. 108–422, title IV, §411(c)(1),(f), Nov. 30, 2004, 118 Stat. 2389, 2390, provided that this section is repealed effective at the end of the 30-day period beginning on the date on which the Secretary of Veterans Affairs certifies to Congress that the Secretary is in compliance with section 1710B(b) of this title.
References in Text
Section 8122(a)(2) of this title, referred to in subsec. (a)(1), was amended generally by Pub. L. 108–422, title IV, §411(e)(1), Nov. 30, 2004, 118 Stat. 2389, and, as so amended, no longer contains a subpar. (C).
Amendments
1991—Pub. L. 102–40, §402(b)(1), renumbered section 5016 of this title as this section.
Pub. L. 102–40, §402(d)(1), substituted "8122(a)(2)(C)" for "5022(a)(2)(C)" in subsec. (a)(1) and "8104(a)(2)" for "5004(a)(2)" in subsec. (b)(2).
Effective Date of Repeal
Repeal effective at the end of the 30-day period beginning on the date on which the Secretary of Veterans Affairs certifies to Congress that the Secretary is in compliance with section 1710B(b) of this title, see section 411(f) of Pub. L. 108–422, set out as an Effective Date of 2004 Amendment note under section 1710B of this title.
Transfer of Nursing Home Revolving Fund Balances and Receipts
For provisions relating to the transfer of balances and receipts from the Nursing Home Revolving Fund to the "Medical services" account, see section 115 of Pub. L. 108–447, set out as a note under section 1729a of this title.
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