Corporate Capital Account

B1: Anticipated collections in respect of an Economy Act obligation from DoD to DFC (MOU signed 6/22/2020) for DFC to execute: loan origination, disbursement, loan management, monitoring, budget & accounting support services for loans obligated pursuant to EO 13922 using DoD DPA Title III CARES Act appropriated funds.

B2: The National Defense Authorization Act (NDAA) of 2021, Section 9902, directed the Secretary of the Department of Commerce to establish a program to provide federal financial assistance to incentivize investment in facilities and equipment in the United States for semiconductor fabrication, assembly, testing, advanced packaging, or research and development (CHIPS Act). Under the CHIPS Act, the Department is responsible for designing, implementing, and overseeing a loan and loan guarantee program targeted at expanding U.S. domestic semiconductor production. Standing up this program is a key Administration priority, however Commerce is challenged by internal procurement lead times to roll out the program quickly. DFC has a contract vehicle (BPA) already in place that will allow for Commerce to significantly shorten the time to award of a contract to assist in standing up this program. Commerce has requested DFC to conduct an assisted procurement using this contract vehicle in which DFC will award the contract and will be reimbursed by Commerce for any contract payments made.

A1: Amounts apportioned on this line may be increased as necessary to pay valid claims and provisions, without further action by OMB, but the amount of any such increase may not cause total apportioned budgetary resources to exceed the total amount of budgetary resources in the CCA account plus the amount of any indefinite borrowing authority displayed on this apportionment, or as may be exercised pursuant to 22 USC 9634(e)(2). [Rationale: Footnote signifies that this TAFS has received or may receive an automatic apportionment.

A2: FY 2024 Appropriations language requires the use of fees for expenses related to travel, professionals services and legal expenses. The language provides: “Provided further, That fees charged for project-specific transaction costs as described in section 1434(k) of the BUILD Act of 2018, and other direct costs associated with origination or monitoring services provided to specific or potential investors, shall not be considered administrative expenses for the purposes of this heading: Provided further, That such fees shall be credited to this account for such purposes, to remain available until expended." Pursuant to this appropriation, all fees will support the entire DFC portfolio including projects transferred to the DFC. DFC will provide estimated uses of Fees per this apportionment for project-specific expenses and will update this apportionment as needed if additional fees are required. [Rationale: Footnote specifies the purpose(s) for which the funds are available to be obligated]

A2: FY 2024 Appropriations language requires the use of fees for expenses related to travel, professionals services and legal expenses. The language provides: “Provided further, That fees charged for project-specific transaction costs as described in section 1434(k) of the BUILD Act of 2018, and other direct costs associated with origination or monitoring services provided to specific or potential investors, shall not be considered administrative expenses for the purposes of this heading: Provided further, That such fees shall be credited to this account for such purposes, to remain available until expended." Pursuant to this appropriation, all fees will support the entire DFC portfolio including projects transferred to the DFC. DFC will provide estimated uses of Fees per this apportionment for project-specific expenses and will update this apportionment as needed if additional fees are required. [Rationale: Footnote specifies the purpose(s) for which the funds are available to be obligated]