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B-207186 1 (1982-05-05)

handle is hein.gao/gaobabjap0001 and id is 1 raw text is: r- oo (5 d z_-r'j O CO, ,PTROLLER GL.I1AL ToIrI t IJ - 34ISTATES 17 .7 B-207186 'Iay 5, I,'! The Honorable Richard L, Ottingert Chairman, Subcommittee on Energy t-'I(llie. Conservation and Power Committee on Energy and Commerce House of Representatives Dear Mr. Chairman: This responds to your letter dated April 26, 1982, in which you asked that we address the ±_ssues outlined in your April 13 letter. (Your April 13 letter asked that we testify at an April 30 hearing, which subsequently was postponed indefi- nitely.) The issues concern the legality of an impoundment of funds appropriated for the Solar Energy and Energy Conservation Bank, and the relevance o' sections 516 and 517 of the Energy Security Act and section 1001(4) of the Impoundiment Control Act. ESTABLIS HMENT OF THE RANK The Bank was established on June 30, 1980, by title V of the Energy Security Act of 1980. Title V, known as the Solar Energy -and Energy Conservation Bank Act of 1980, provides that the Ban!; will be governed by a Board of Directors consisting of the Secretaries of flousing and Urban Developmeht (HUD), Energy, Treasury, itgriculture, and Commerce. The Secretary of HUD is the chairperson. Subject to the Board's direction, the Bank's affairs are to be managed by officers consisting of a Presiden- tially appointed President, and two Executive Vice-Pzesidents appointed by the Bank President. However, as a result of the impoundment actions described below, the Bank does not have its officers, nor have its regulations been issued. In other words, the Bank is not presently operational. Fiscal Year 1982 Funding and Presidential Impoundmentsri Congress' passage of the first continuing resolution for fiscal year 1982 appropriated on a yearly basis $25 million for the Bank. Since the continuing resolution was in effect for 14 percent of the fiscal year, OMB recognized 14 percent of the -appropriation, or $1.5 million, as available for apportionment. However, since the Administration had proposed no funding for the Bank in fiscal year 1982, OMB did not apportion any of .r i*~~ , .-.e----.~- *.-wtr-t- * '-''* rtr~- ~ u*s ....................................-. ~ ~* S ,9t1@91fWR iPSi ~

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