Termination date of the Fund’s functions; exceptions; liquidation

(a) In general The Fund shall continue to exercise its functions in connection with and in furtherance of its object and purposes until the close of business on the date that is 10 years after the date of enactment of this Act, but the provisions of this section shall not be construed as preventing the Fund from acquiring obligations prior to such date which mature subsequent to such date or from assuming prior to such date liability as guarantor, endorser, or acceptor of obligations which mature subsequent to such date, or from continuing as a corporate agency of the United States and exercising any of its functions subsequent to such date for purposes of orderly liquidation, including the administration of its assets and the collection of any obligations held by the Fund. (b) Funding (1) In general After the date described in subsection (a)— (A) the Board of Governors of the Fund shall transfer any funds not needed to carry out the functions described in subsection (a) to the Secretary of Commerce; and (B) the Secretary of Commerce shall use all such funds for programs carried out by the Department of Commerce to assist American manufacturing, including manufacturing grant programs. (2) Other requirements All laborers and mechanics employed by contractors or subcontractors in the performance of construction, alteration, or repair work carried out, in whole or in part, with assistance made available under paragraph (1)(B) shall be paid wages at rates not less than those prevailing on projects of a character similar in the locality as determined by the Secretary of Labor in accordance with subchapter IV of chapter 31 of title 40, United States Code. With respect to such labor standards, the Secretary of Labor shall have the authority and functions set forth in Reorganization Plan No. 14 of 1950 (64 Stat. 1267; 5 U.S.C. App.) and section 3145 of title 40, United States Code. (c) Sense of Congress on reauthorization It is the sense of Congress that the Fund should be reauthorized in the future.