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PUBLIC LAW 111–203—JULY 21, 2010 124 STAT. 2135

(Public Law 110–289; 122 Stat. 2683), including any fee agreed
to by contract between the Secretary and the Association or Cor-
poration, shall be deposited in the General Fund of the Treasury
where such amounts shall be—
(1) dedicated for the sole purpose of deficit reduction; and
(2) prohibited from use as an offset for other spending
increases or revenue reductions.

SEC. 1305. FEDERAL HOUSING FINANCE AGENCY REPORT.
The Director of the Federal Housing Finance Agency shall
submit to Congress a report on the plans of the Agency to continue
to support and maintain the Nation’s vital housing industry, while
at the same time guaranteeing that the American taxpayer will
not suffer unnecessary losses.

SEC. 1306. REPAYMENT OF UNOBLIGATED ARRA FUNDS.
(a) REJECTION OF ARRA FUNDS BY STATE.—Section 1607 of
the American Recovery and Reinvestment Act of 2009 (Public Law
111–5; 123 Stat. 305) is amended by adding at the end the following:
‘‘(d) STATEWIDE REJECTION OF FUNDS.—If funds provided to
any State in any division of this Act are not accepted for use
by the Governor of the State pursuant to subsection (a) or by
the State legislature pursuant to subsection (b), then all such funds
shall be—
‘‘(1) rescinded; and Rescission.
‘‘(2) deposited in the General Fund of the Treasury where
such amounts shall be—
‘‘(A) dedicated for the sole purpose of deficit reduction;
and
‘‘(B) prohibited from use as an offset for other spending
increases or revenue reductions.’’.
(b) WITHDRAWAL OR RECAPTURE OF UNOBLIGATED FUNDS.—
Title XVI of the American Recovery and Reinvestment Act of 2009
(Public Law 111–5; 123 Stat. 302) is amended by adding at the
end the following:

‘‘SEC. 1613. WITHDRAWAL OR RECAPTURE OF UNOBLIGATED FUNDS.
‘‘Notwithstanding any other provision of this Act, if the head
of any executive agency withdraws or recaptures for any reason
funds appropriated or otherwise made available under this division,
and such funds have not been obligated by a State to a local
government or for a specific project, such recaptured funds shall
be—
‘‘(1) rescinded; and
‘‘(2) deposited in the General Fund of the Treasury where
such amounts shall be—
‘‘(A) dedicated for the sole purpose of deficit reduction;
and
‘‘(B) prohibited from use as an offset for other spending
increases or revenue reductions.’’.
(c) RETURN OF UNOBLIGATED FUNDS BY END OF 2012.—Section
1603 of the American Recovery and Reinvestment Act of 2009
(Public Law 111–5; 123 Stat. 302) is amended by—
(1) striking ‘‘All funds’’ and inserting ‘‘(a) IN GENERAL.—
All funds’’; and

LAWS (2) adding at the end the following: ‘‘(b) REPAYMENT OF UNOBLIGATED FUNDS.—Any discretionary appropriations made available in this division that have not beenPUBLIC with on anorris VerDate Nov 24 2008 22:28 Sep 03, 2010 Jkt 089139 PO 00203 Frm 00761 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL203.111 PUBL203