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B-302335 1 (2004-01-15)

handle is hein.gao/gaobacyoc0001 and id is 1 raw text is: I 7inAccountability * Integrity * Reliability United States General Accounting Office Washington, DC 20548 B-302335 January 15, 2004 The Honorable Robert C. Byrd Ranking Minority Member Committee on Appropriations United States Senate Subject: Proposed Rescission by Department of Commerce of Unobligated Emergency Steel Guarantee Loan Program Appropriation Dear Senator Byrd: This responds to your request of December 22, 2003, for our opinion on the Department of Commerce's (Department) plan to rescind $17.711 million of the unobligated balance of amounts appropriated for the Emergency Steel Guarantee Loan Program (Program).' The Department has indicated that it would draw on the unobligated balance of the Program's appropriation to help satisfy a $100 million rescission that would be required by H.R. 2673, the bill making omnibus appropriations for fiscal year 2004, if enacted. You asked whether the unobligated balance of the Program's appropriation is available to the Department for that purpose. For the reasons provided below, we conclude that the Program's appropriation is not available to the Department for purposes of the $100 million rescission. BACKGROUND In the findings section of the Emergency Steel Loan Guarantee Act of 1999 (Steel Act), Congress noted the loss of jobs and company bankruptcies in the steel industry as a consequence of increases in steel imports. Emergency Steel Loan Guarantee Act of 1999, Pub. L. No. 106-51, §101(b), 113 Stat. 252 (1999). Congress found that a 1 Section 10 1(d) of the Emergency Steel Loan Guarantee Act of 1999, which established the Program, refers to the Emergency Steel Guarantee Loan Program. Pub. L. No. 106-51, §101(d), 113 Stat. 252 (1999). However, in other places in the same act, such as the caption in Section 101, the Program is referred to as the Emergency Steel Loan Guarantee Program.

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