Source: https://budgetcounsel.com/laws-and-rules/congressional-budget-act-of-1974-2/%C2%A7154-cba-504-credit-reform-budget-treatment/
Timestamp: 2019-04-22 16:26:04+00:00

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(a) President’s Budget.—Beginning with fiscal year 1992, the President’s budget shall reflect the costs of direct loan and loan guarantee programs. The budget shall also include the planned level of new direct loan obligations or loan guarantee commitments associated with each appropriations request.
(1) The authority to incur new direct loan obligations, make new loan guarantee commitments, or modify outstanding direct loans (or direct loan obligations) or loan guarantees (or loan guarantee commitments) shall constitute new budget authority in an amount equal to the cost of the direct loan or loan guarantee in the fiscal year in which definite authority becomes available or indefinite authority is used. Such budget authority shall constitute an obligation of the credit program account to pay to the financing account.
(2) The outlays resulting from new budget authority for the cost of direct loans or loan guarantees described in paragraph (1) shall be paid from the credit program account into the financing account and recorded in the fiscal year in which the direct loan or the guaranteed loan is disbursed or its costs altered.
(3) All collections and payments of the financing accounts shall be a means of financing.
(e) Modifications.—An outstanding direct loan (or direct loan obligation) or loan guarantee (or loan guarantee commitment) shall not be modified in a manner that increases its costs unless budget authority for the additional cost has been provided in advance in an appropriations Act.
(f) Reestimates.—When the estimated cost for a group of direct loans or loan guarantees for a given credit program made in a single fiscal year is reestimated in a subsequent year, the difference between the reestimated cost and the previous cost estimate shall be displayed as a distinct and separately identified subaccount in the credit program account as a change in program costs and a change in net interest. There is hereby provided permanent indefinite authority for these reestimates.
(g) Administrative Expenses.—All funding for an agency’s administration of a direct loan or loan guarantee program shall be displayed as distinct and separately identified subaccounts within the same budget account as the program’s cost.
 This section is classified to the U.S. Code at 2 U.S.C. 661c.
 Means of Financing: Ways in which a budget deficit is financed or a budget surplus is used. A budget deficit may be financed by the Department of the Treasury (Treasury) (or agency) borrowing, by reducing Treasury cash balances, by the sale of gold, by seigniorage, by net cash flows resulting from transactions in credit financing accounts, by allowing certain unpaid liabilities to increase, or by other similar transactions. It is customary to separate total means of financing into “change in debt held by the public” (the government’s debt, which is the primary means of financing) and “other means of financing” (seigniorage, change in cash balances, transactions of credit financing accounts, etc.).
U.S. Congress, Constitution, House Manual and Rules of the House of Representatives of the United States, cl. 1(b), rule X, (114th Congress) H. Doc. 113-181, 113th Cong., 2nd sess.
Parliamentarian’s Note: The proceedings of March 26, 1992 should be viewed in light of the separate requirement contained in section 504(b). 138 Congressional Record. 7228–31, 102nd Congress 1st Session. On that occasion, the Chair ruled that an amendment providing new authority to incur primary loan guarantee commitments, but failing to explicitly condition the effectiveness of such commitments to amounts provided in appropriation acts, violated section 402(a) (now section 401(a)). The Chair did not include section 504(b) in the analysis on this particular point of order. Had he done so, the lack of language explicitly superseding section 504(b) would have been sufficient to render the amendment in order under section 402(a) (now section 401(a)). Ultimately, the question was moot as the amendment was out of order under a separate rationale for violating section 303(a) of the Congressional Budget Act.
Pub. L. 101–508, title XIII, §13201(a), Nov. 5, 1990, 104 Stat. 1388–612 (Budget Enforcement Act of 1990) added §504 to Pub. L. 93–344, title V (Congressional Budget Act of 1974).
Pub. L. 105–33, title X, §10117(b), Aug. 5, 1997, 111 Stat. 693 amended various subsections of §504.
A prior section 504 of the CBA was enacted (see Pub. L. 93–344, title V, July 12, 1974, 88 Stat. 322). It was classified to section 1020a of the former Title 31 of the U.S. Code but was repealed by the Title 31 Revision and Codification Law enacted in 1983 (Pub. L. 97–258, §5(b), Sept. 13, 1982, 96 Stat. 1068).
Pub. L. 105–33, §10117(b)(1), amended paragraph (1) generally. Prior to amendment, paragraph (1) read as follows: “appropriations of budget authority to cover their costs are made in advance;”.
Pub. L. 105–33, §10117(b)(2), substituted “has been provided in advance in an appropriations Act” for “is enacted”.
Pub. L. 105–33, §10117(b)(3), substituted “Subsections (b) and (e)” for “Subsection (b)”.
Pub. L. 105–33, §10117(b)(4), substituted “modify outstanding direct loans (or direct loan obligations) or loan guarantees (or loan guarantee commitments)” for “directly or indirectly alter the costs of outstanding direct loans and loan guarantees”.

References: §13201
 §504
 §10117
 §504
 §5
 §10117
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 §10117