Proposed Rescission by Department of Commerce of Unobligated Emergency Steel Guarantee Loan Program Appropriation
B-302335: Jan 15, 2004
This letter responds to the Ranking Minority Member's (RRM), Senate Committee on Appropriations, 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. The RRM asked whether the unobligated balance of the Program's appropriation is available to the Department for that purpose.