§ 321 TITLE 31—MONEY AND FINANCE Page 22

who have been performing or shall perform the duties

of their respective offices after the date of such expiration’’, and ‘‘the salary, compensation, fees, or emoluments authorized or provided by law in each case for

the respective incumbents of the offices’’ because of 25

Op. Atty. Gen. 636 (1906) and for consistency with other

titles of the United States Code. The words ‘‘until a

successor is appointed and qualified’’ are substituted

for ‘‘before the appointment and qualification of their

successors’’ and 31:1016 (last sentence) for consistency

with other titles of the Code.

AMENDMENTS

2010—Pub. L. 111–203 renumbered section 312 of this

title as this section.

2003—Pub. L. 108–177 renumbered section 311 of this

title as this section.

2001—Pub. L. 107–56 renumbered section 310 of this

title as this section.

1989—Pub. L. 101–73 renumbered section 309 of this

title as this section.

EFFECTIVE DATE OF 2010 AMENDMENT

Amendment by Pub. L. 111–203 effective 1 day after

July 21, 2010, except as otherwise provided, see section

4 of Pub. L. 111–203, set out as an Effective Date note

under section 5301 of Title 12, Banks and Banking.

SUBCHAPTER II—ADMINISTRATIVE

§ 321. General authority of the Secretary

(a) The Secretary of the Treasury shall—

(1) prepare plans for improving and managing receipts of the United States Government

and managing the public debt;

(2) carry out services related to finances

that the Secretary is required to perform;

(3) issue warrants for money drawn on the

Treasury consistent with appropriations;

(4) mint coins, engrave and print currency

and security documents, and refine and assay

bullion, and may strike medals;

(5) prescribe regulations that the Secretary

considers best calculated to promote the public convenience and security, and to protect

the Government and individuals from fraud

and loss, that apply to anyone who may—

(A) receive for the Government, Treasury

notes, United States notes, or other Government securities; or

(B) be engaged or employed in preparing

and issuing those notes or securities;

(6) collect receipts;

(7) with a view to prosecuting persons, take

steps to discover fraud and attempted fraud

involving receipts and decide on ways to prevent and detect fraud;

(8) maintain separate accounts of taxes received in each State, territory, and possession

of the United States, and collection district,

with each account listing—

(A) each kind of tax;

(B) the amount of each tax; and

(C) the money paid as pay and allowances

to officers and employees of the Department

collecting taxes in that State, territory, possession, or district; and

(9) advise the President on major domestic

and international prudential policy issues in

connection with all lines of insurance except

health insurance.

(b) The Secretary may—

(1) prescribe regulations to carry out the duties and powers of the Secretary;

(2) delegate duties and powers of the Secretary to another officer or employee of the

Department of the Treasury;

(3) transfer within the Department the

records, property, officers, employees, and unexpended balances of appropriations, allocations, and amounts of the Department that

the Secretary considers necessary to carry out

a delegation made under clause (2) of this subsection;

(4) detail, in addition to details authorized

under another law, not more than 6 officers

and employees of the Department at any one

time to enforce the laws related to the Department, except that of those 6 officers and employees not more than 4 officers and employees—

(A) paid from the appropriations for the

collection of customs may be so detailed;

(B) paid from the appropriations for internal revenue may be so detailed; and

(C) paid from the appropriations for suppressing counterfeiting and other crimes

may be so detailed;

(5) authorize, at rates and under conditions

prescribed by the Secretary, the private use of

telephone lines controlled by the Department

when the use does not interfere with Department business;

(6) buy arms and ammunition required by officers and employees of the Department in carrying out their duties and powers; and

(7) notwithstanding any other provision of

law, fulfill any requirement to issue a report

on the financial condition of any fund on the

books of the Treasury by including the required information in a consolidated report,

except that information with respect to a specific fund shall be separately reported if the

Secretary determines that the consolidation

of such information would result in an unwarranted delay in the availability of such information.

(c) Duties and powers of officers and employees of the Department are vested in the Secretary except duties and powers—

(1) vested by subchapter II of chapter 5 of

title 5 in administrative law judges employed

by the Secretary; and

(2) of the Comptroller of the Currency.

(d)(1) The Secretary of the Treasury may accept, hold, administer, and use gifts and bequests of property, both real and personal, for

the purpose of aiding or facilitating the work of

the Department of the Treasury. Gifts and bequests of money and the proceeds from sales of

other property received as gifts or bequests shall

be deposited in the Treasury in a separate fund

and shall be disbursed on order of the Secretary

of the Treasury. Property accepted under this

paragraph, and the proceeds thereof, shall be

used as nearly as possible in accordance with

the terms of the gift or bequest.

(2) For purposes of the Federal income, estate,

and gift taxes, property accepted under paragraph (1) shall be considered as a gift or bequest

to or for the use of the United States.

(3) The Secretary of the Treasury may invest

and reinvest the fund in public debt securities
Page 23 TITLE 31—MONEY AND FINANCE § 321

with maturities suitable for the needs of the

fund and bearing interest at rates determined by

the Secretary of the Treasury, taking into consideration the current average market yield on

outstanding marketable obligations of the

United States of comparable maturities. Income

accruing from the securities, and from any other

property accepted under paragraph (1), shall be

deposited to the credit of the fund, and shall be

disbursed on order of the Secretary of the Treasury for purposes as nearly as possible in accordance with the terms of the gifts or bequests.

(4) The Secretary of the Treasury shall, not

less frequently than annually, make a public

disclosure of the amount (and sources) of the

gifts and bequests received under this subsection, and the purposes for which amounts in

the separate fund established under this subsection are expended.

(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 880; Pub.

L. 98–369, div. A, title IV, §445, July 18, 1984, 98

Stat. 816; Pub. L. 101–73, title III, §307(b), (d),

Aug. 9, 1989, 103 Stat. 353; Pub. L. 104–66, title I,

§1132(b), Dec. 21, 1995, 109 Stat. 725; Pub. L.

111–203, title III, §378(1), title V, §502(b), July 21,

2010, 124 Stat. 1570, 1588.)

HISTORICAL AND REVISION NOTES

Revised

Section Source (U.S. Code) Source (Statutes at Large)

321(a)(1)–

(3).

31:1002(less words

between 1st and

2d semicolons and

between 4th and

5th semicolons).

R.S. §248(less words between

4th and 5th semicolons).

321(a)(4) .. (no source).

321(a)(5) .. 31:427. R.S. §251(words after ‘‘Treasury’’ and before ‘‘shall prescribe forms of entries’’).

321(a)(6) .. 31:1002(words between 1st and 2d

semicolons).

321(a)(7) .. 31:1011. R.S. §376; May 10, 1934, ch. 277,

§512(b), 48 Stat. 759.

321(a)(8) .. 31:1024. R.S. §§239, 261; Feb. 18, 1875,

ch. 80, §1(3d complete par.

on p. 317), 18 Stat. 317; Aug.

7, 1946, ch. 770, §1(48), 60

Stat. 870.

321(b)(1) .. 31:127. Oct. 9, 1940, ch. 796, §5, 54

Stat. 1087.

31:317f. Dec. 18, 1942, ch. 767, §7, 56

Stat. 1066.

31:397. July 23, 1965, Pub. L. 89–81,

§107, 79 Stat. 255.

31:528(d). R.S. §3646(d); July 8, 1937, ch.

444, §9, 50 Stat. 483; restated

Dec. 3, 1945, ch. 515, §1, 59

Stat. 593.

31:564. Nov. 21, 1941, ch. 489, §5, 55

Stat. 778; Dec. 22, 1974, Pub.

L. 93–539, §1(a) (related to

§4), 88 Stat. 1738.

31:1053. Oct. 26, 1970, Pub. L. 91–508,

§204, 84 Stat. 1120.

31:1262(a). Oct. 20, 1972, Pub. L. 92–512,

§142(a), 86 Stat. 935.

321(b)(2),

(3).

31:1001(note). Reorg. Plan No. 26 of 1950, eff.

July 31, 1950, §§2, 4, 64 Stat.

1281.

321(b)(4) .. 31:1017. June 12, 1917, ch. 27, §1(4th

par. under heading ‘‘Miscellaneous Objects, Treasury Department’’), 40 Stat.

118; Mar. 4, 1921, ch. 161,

§1(1st par. under heading

‘‘Miscellaneous Objects,

Treasury Department’’), 41

Stat. 1374.

321(b)(5) .. 31:486. Apr. 28, 1904, ch. 1762,

§1(proviso immediately before heading ‘‘Revenue-Cutter Service’’), 33 Stat. 460.

321(b)(6) .. 31:1023(a). June 1, 1955, ch. 119, §1(a), 69

Stat. 82.

321(c) ...... 31:1001(note). Reorg. Plan No. 26 of 1950, eff.

July 31, 1950, §1(a), (b), 64

Stat. 1280.

In subsection (a)(1)–(3), the words between the 2d and

3d semicolons are omitted as superseded by section 3512

of the revised title.

In subsection (a)(1), the word ‘‘digest’’ is omitted as

being included in ‘‘prepare’’. The word ‘‘receipts’’ is

substituted for ‘‘revenue’’, and the words ‘‘managing

the public debt’’ are substituted for ‘‘for the support of

the public credit’’, for consistency in the revised title.

In subsection (a)(2), the words ‘‘carry out’’ are substituted for ‘‘generally shall perform’’ for consistency

in the revised title and with other titles of the United

States Code. The words ‘‘that the Secretary is required’’ are substituted for ‘‘as he shall be directed’’ because of the restatement.

In subsection (a)(3), the word ‘‘issue’’ is substituted

for ‘‘shall grant’’ for consistency. The words ‘‘under

limitations herein established or to be provided’’ are

omitted as unnecessary. The word ‘‘consistent’’ is substituted for ‘‘in pursuance of’’, and the words ‘‘by law’’

are omitted, for consistency.

Subsection (a)(4) is included to reflect all the major

duties of the Secretary of the Treasury. See chapter 51

of the revised title.

In subsection (a)(5), before subclause (A), the words

‘‘prescribe regulations’’ are substituted for ‘‘make and

issue from time to time such instructions and regulations’’ for consistency in the revised title and to eliminate unnecessary words. The words ‘‘applicable to anyone’’ are substituted for ‘‘to the several collectors, receivers, depositaries, officers, and others’’ for clarity

and to eliminate unnecessary words. In subclause (A),

the words ‘‘for the Government’’ are inserted because

section 8 of the Act of June 30, 1864 (ch. 172, 13 Stat.

221), from which section 251 of the Revised Statutes is

derived, used the phrase ‘‘in behalf of the United

States’’. In subclause (B), the words ‘‘those notes and

securities’’ are substituted for ‘‘the same’’ for clarity.

In subsection (a)(6), the word ‘‘collect’’ is substituted

for ‘‘superintend the collection’’ because of the source

provisions restated in section 321(c) of the revised title.

The word ‘‘receipts’’ is substituted for ‘‘revenue’’ for

consistency in the revised title.

In subsection (a)(7), the words ‘‘Secretary of the

Treasury’’ are substituted for ‘‘General Counsel of the

Department of the Treasury, under the direction of the

Secretary of the Treasury’’ because of the source provisions restated in subsection (c) of this section. The

words ‘‘with a view to prosecuting persons’’ are substituted for ‘‘for the prosecution of persons charged

with the commission thereof’’ for clarity. The words

‘‘take steps to discover fraud and attempted fraud’’ are

substituted for ‘‘take cognizance of all frauds or attempted frauds’’ for clarity. The words ‘‘involving receipts’’ are substituted for ‘‘upon the revenue’’ for consistency in the revised title. The words ‘‘decide on ways

to prevent and detect fraud’’ are substituted for ‘‘exercise a general supervision over the measures for their

prevention and detection’’ for clarity and to eliminate

unnecessary words.

In subsection (a)(8), before subclause (A), the word

‘‘maintain’’ is substituted for ‘‘shall be kept’’ for consistency. The words ‘‘all moneys’’ and ‘‘internal’’ are

omitted as unnecessary because of the restatement.

The words ‘‘duties or’’ are omitted as being included in

‘‘taxes’’. The word ‘‘possession’’ is added for consistency in the revised title and with other titles of the

Code. The word ‘‘listing’’ is substituted for ‘‘so as to exhibit, as far as may be’’ for clarity and to eliminate unnecessary words. In subclause (A), the word ‘‘kind’’ is

substituted for ‘‘species’’ for consistency. The words

‘‘that shall accrue’’ are omitted as surplus. In subclause (B), the words ‘‘each tax’’ are substituted for

‘‘each source of revenue’’ for clarity. In subclause (C),

the word ‘‘pay’’ is substituted for ‘‘compensation’’ for

consistency. The words ‘‘officers and employees’’ are

substituted for ‘‘collectors and deputy collectors, inspectors, and other officers’’ for consistency and to

eliminate unnecessary words.

Subsection (b)(1) is included as a general statement

of the authority of the Secretary of the Treasury to
§ 322 TITLE 31—MONEY AND FINANCE Page 24

prescribe regulations to avoid repeating each time specific authority of the Secretary to carry out certain

provisions of law.

In subsection (b)(2), the words ‘‘make such provisions’’ in 31:1001(note) are omitted as unnecessary. The

words ‘‘or by any agency’’ are omitted and the words

‘‘duties and powers’’ are substituted for ‘‘function’’, for

consistency in the revised title and with other titles of

the Code. The words ‘‘including any function transferred to the Secretary by the provisions of this reorganization plan’’ are omitted as executed.

In subsection (b)(3), the word ‘‘effect ’’ is omitted as

unnecessary. The words ‘‘(available or to be made

available)’’ are omitted as surplus. The words ‘‘delegation made under clause (2) of this subsection’’ are substituted for ‘‘provisions of this reorganization plan’’ because the only provision of Reorganization Plan No. 26

of 1950 (eff. July 31, 1950, 64 Stat. 1281) that continues

to have legal effect is section 2 that is restated in

clause (2).

In subsection (b)(4), before subclause (A), the word

‘‘detail’’ is substituted for ‘‘to use for, and in connection with’’ to eliminate unnecessary words. The words

‘‘in addition to details authorized under another law’’

are substituted for 31:1017(last sentence) to eliminate

unnecessary words and because subsequent laws would

also provide additional authority to detail. The words

‘‘and the several branches of the public service under

its control’’ are omitted as being included in ‘‘Department’’. The words ‘‘officers and employees’’ are substituted for ‘‘persons’’ for clarity and consistency in

the revised title. In subclause (B), the words ‘‘agents or

from the appropriation for the foregoing purpose’’ are

omitted as unnecessary because of the restatement.

In subsection (b)(5), the words ‘‘the proceeds thereof

to be accounted for and paid into the Treasury of the

United States’’ are omitted as unnecessary because of

section 3302 of the revised title.

In subsection (b)(6), the word ‘‘buy’’ is substituted for

‘‘make expenditures’’ for consistency in the revised

title and with other titles of the Code. The words ‘‘officers or employees’’ are substituted for ‘‘civilian employees’’, and the words ‘‘in carrying out their duties

and powers’’ are substituted for ‘‘in the performance of

their official duties’’, for consistency in the revised

title and with other titles of the Code.

AMENDMENTS

2010—Subsec. (a)(9). Pub. L. 111–203, §502(b), added

par. (9).

Subsec. (c). Pub. L. 111–203, §378(1)(A), inserted ‘‘and’’

at end of par. (1), substituted period for ‘‘; and’’ at end

of par. (2), and struck out par. (3) which read as follows:

‘‘of the Director of the Office of Thrift Supervision;’’.

Subsec. (e). Pub. L. 111–203, §378(1)(B), struck out subsec. (e). Text read as follows: ‘‘The Secretary of the

Treasury may not merge or consolidate the Office of

Thrift Supervision, or any of the functions or responsibilities of the Office or the Director of such office,

with the Office of the Comptroller of the Currency or

the Comptroller of the Currency.’’

1995—Subsec. (b)(7). Pub. L. 104–66 added par. (7).

1989—Subsec. (c)(3). Pub. L. 101–73, §307(b), added par.

(3).

Subsec. (e). Pub. L. 101–73, §307(d), added subsec. (e).

1984—Subsec. (d). Pub. L. 98–369 added subsec. (d).

EFFECTIVE DATE OF 2010 AMENDMENT

Amendment by section 378(1) of Pub. L. 111–203 effective on the transfer date, see section 351 of Pub. L.

111–203, set out as a note under section 906 of Title 2,

The Congress.

Amendment by section 502(b) of Pub. L. 111–203 effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111–203, set out as an Effective Date note under section 5301 of Title 12, Banks

and Banking.

EMERGENCY PREPAREDNESS FUNCTIONS

For assignment of certain emergency preparedness

functions to Secretary of the Treasury, see Parts 1, 2,

and 15 of Ex. Ord. No. 12656, Nov. 18, 1988, 53 F.R. 47491,

set out as a note under section 5195 of Title 42, The

Public Health and Welfare.

USE OF AIRCRAFT IN EMERGENCY LAW ENFORCEMENT

SUPPORT

Pub. L. 104–52, title I, §107, Nov. 19, 1995, 109 Stat. 476,

provided that: ‘‘The Secretary of the Treasury is authorized in fiscal year 1996 and hereafter, to use Treasury Department aircraft, with or without reimbursement, to assist bureaus within the Department of the

Treasury or other Federal agencies, Departments or offices outside of the Department of the Treasury to provide emergency law enforcement support to protect

human life, property, public health, or safety.’’

§ 322. Working capital fund

(a) The Department of the Treasury has a

working capital fund. Amounts in the fund are

available for expenses of operating and maintaining common administrative services of the

Department that the Secretary of the Treasury,

with the approval of the Director of the Office of

Management and Budget, decides may be carried

out more advantageously and more economically as central services.

(b) Amounts in the fund remain available until

expended. Amounts may be appropriated to the

fund.

(c) The fund consists of—

(1) amounts appropriated to the fund;

(2) to the extent transferred to the fund by

the Secretary, the reasonable value of supply

inventories, equipment, and other assets and

inventories on order for providing services out

of amounts in the fund, less related liabilities

and unpaid obligations;

(3) amounts received from the sale or exchange of property; and

(4) payments received for loss or damage to

property of the fund.

(d) The fund shall be reimbursed, or credited

with advance payments, from amounts available

to the Department or from other sources, for

supplies and services at rates that will equal the

expenses of operation, including accrual of annual leave and the depreciation of plant and

equipment. Amounts the Secretary decides are

in excess of the needs of the fund shall be deposited at the end of each fiscal year in the Treasury as miscellaneous receipts.

(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 881; Pub.

L. 98–369, div. A, title IV, §442, July 18, 1984, 98

Stat. 816.)

HISTORICAL AND REVISION NOTES

Revised

Section Source (U.S. Code) Source (Statutes at Large)

322(a) ...... 31:1033(1st sentence

less words between 1st and 3d

commas, 2d sentence 1st–9th

words).

Dec. 31, 1970, Pub. L. 91–614,

§401, 84 Stat. 1846.

322(b) ...... 31:1033(1st sentence

words between 1st

and 3d commas,

last sentence).

322(c) ...... 31:1033(2d sentence

less 1st–9th words,

4th sentence).

322(d) ...... 31:1033(3d, 5th sentences).

In subsection (a), the words ‘‘Amounts in the fund are

available’’ are added because of the restatement.