Source: http://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8714&num=0&edition=prelim
Timestamp: 2019-04-23 00:51:26+00:00

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(2) expenses incurred by the Office of Personnel Management in the administration of this chapter within the limitations that may be specified annually by appropriation acts.
(b) The Secretary of the Treasury may invest and reinvest any of the money in the Fund in interest-bearing obligations of the United States, and may sell these obligations for the purposes of the Fund. The interest on and the proceeds from the sale of these obligations, and the income derived from dividend or premium rate adjustments from insurers, become a part of the Fund.
(c)(1) No tax, fee, or other monetary payment may be imposed or collected by any State, the District of Columbia, or the Commonwealth of Puerto Rico, or by any political subdivision or other governmental authority thereof, on, or with respect to, any premium paid under an insurance policy purchased under this chapter.
(2) Paragraph (1) of this subsection shall not be construed to exempt any company issuing a policy of insurance under this chapter from the imposition, payment, or collection of a tax, fee, or other monetary payment on the net income or profit accruing to or realized by that company from business conducted under this chapter, if that tax, fee, or payment is applicable to a broad range of business activity.
5 U.S.C. 2094(c) (less applicability to 5 U.S.C. 2099), (d). Aug. 17, 1954, ch. 752, §5(c) (less applicability to §10), 68 Stat. 739 .
Aug. 11, 1955, ch. 794, §1(a) "(c) (less applicability to §10)", (b), 69 Stat. 676 .
Apr. 11, 1958, Pub. L. 85–377, §1 (less applicability to §10), 72 Stat. 87 .
In subsection (a), the words "of the Employees' Life Insurance Fund" are substituted for "of a fund which is hereby created". The proviso which made appropriations available to the Commission for salaries and expenses for the fiscal year 1955 available on a reimbursable basis for necessary administrative expenses for carrying out the purposes of this chapter is omitted as executed.
1980-Subsec. (c). Pub. L. 96–499 added subsec. (c).
1978-Subsec. (a)(2). Pub. L. 95–454 substituted "Office of Personnel Management" for "Civil Service Commission".
Pub. L. 96–499, title IV, §405(b), Dec. 5, 1980, 94 Stat. 2607 , provided that: "The amendment made by subsection (a) [amending this section] shall take effect on the date of the enactment of this Act [Dec. 5, 1980], and shall apply with respect to premiums paid on or after such date."
Pub. L. 103–409, §4, Oct. 25, 1994, 108 Stat. 4232 , provided that: "Notwithstanding section 8714(a)(1) of title 5, United States Code, the Office of Personnel Management shall retain in the Employees' Life Insurance Fund such portion of premium payments otherwise due as will, no later than September 30, 1995, permanently reduce the contingency reserve established under the third sentence of section 8712 of such title 5 by an amount equal to the amount by which payments from the Employees' Life Insurance Fund during the fiscal year ending September 30, 1995, exceed the payments that would have been paid had the amendments made by this Act [enacting section 8714d of this title] not been enacted."

References: §5
 §10
 §1
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 §1
 §10
 §405
 §4