Additional authorities for Office of Strategic Capital

(a) In general Section 149 of title 10, United States Code, is amended— (1) by redesignating subsection (f) as subsection (j); and (2) by inserting after subsection (e) the following new subsections: (f) Fees (1) In general The Director may— (A) charge and collect fees for the costs of services provided by the Office and associated with administering programs under this section, including for project-specific transaction costs and direct costs relating to such services; and (B) establish those fees at amounts that will ensure recovery of the full costs of administering those programs. (2) Deposit into Credit Program Account (A) In general Amounts collected as fees under paragraph (1) shall— (i) be deposited into the Credit Program Account established under subsection (e)(5); and (ii) remain available until expended. (B) Limitation on use of fees Notwithstanding subsection (e)(5)(B), none of the fees collected under paragraph (1) may be used to pay salaries or expenses of civilian employees of the Department of Defense. (3) Termination of authority (A) In general Except as provided by subparagraph (B), the authority under paragraph (1) to charge and collect fees shall expire on the date specified in paragraph (9)(A) of subsection (e) for the expiration of the authority of the Director to make new loans and provide new loan guarantees under paragraph (3)(A)(i) of that subsection. (B) Treatment of certain assets With respect to a loan or loan guarantee provided under this section that is outstanding as of the expiration date under subparagraph (A), the authority of the Director under paragraph (1) to charge and collect fees for services relating to the loan or loan guarantee shall remain in effect for the duration of the loan or loan guarantee. (4) Reports required (A) Annual report Not later than March 1 of each year, the Director shall submit to the congressional defense committees a report that includes— (i) a detailed summary of the fees collected under paragraph (1) in the preceding fiscal year; and (ii) a description of how those fees were allocated. (B) Audit The Inspector General of the Department of Defense shall— (i) conduct an audit of fees charged and collected under paragraph (1) not less frequently than once every two years; and (ii) not later than June 1 of the year in which an audit is conducted under clause (i), submit to the congressional defense committees a report on the results of the audit. (g) Authority to accept services Notwithstanding section 1342 of title 31, the Director may accept services, such as legal, financial, technical, or professional services, associated with administering programs under this section, including accepting such services as payment in kind for services provided by the Office. (h) Presumption of compliance Each agreement for a loan or loan guarantee executed by the Director shall be conclusively presumed to be issued in compliance with the requirements of this section. (i) Authority to collect debts In the case of a default on a loan or loan guarantee provided under this section, the Director may exercise any priority of the United States in collecting debts relating to the default.. (b) Determinations of loan default under pilot program on capital assistance to support defense investment in industrial base Subsection (e)(3)(A)(ii)(VI) of such section is amended by striking Secretary and inserting Director. (c) Conforming amendment to Credit Program Account Subsection (e)(5)(A)(ii) of such section is amended— (1) by striking consist of amounts and inserting the following: “consist of— (I) amounts; (2) by striking the period at the end and inserting; and; and (3) by adding at the end the following new subclause: (II) fees deposited under subsection (f)(2)..