Source: https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title10-section2601&num=0&edition=prelim
Timestamp: 2019-11-17 12:58:10
Document Index: 72827491

Matched Legal Cases: ['§ 2601', '§511', '§1704', '§374', '§593', '§587', '§2852', '§2812', '§2852', '§593']

[USC02] 10 USC 2601: General gift funds
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10 USC 2601: General gift funds Text contains those laws in effect on November 16, 2019
(a) General Authority to Accept Gifts.-(1) The Secretary concerned may accept, hold, administer, and spend any gift, devise, or bequest of real property, personal property, or money made on the condition that the gift, devise, or bequest be used for the benefit, or in connection with, the establishment, operation, or maintenance, of a school, hospital, library, museum, cemetery, or other institution or organization under the jurisdiction of the Secretary.
(b) Additional Authority to Accept Gifts to Benefit Certain Members, Dependents, and Civilian Employees.-(1) The Secretary concerned may accept, hold, administer, and spend any gift, devise, or bequest of real property, personal property, money, or services made on the condition that the gift, devise, or bequest be used for the benefit of-
(c) Gift Funds.-Gifts and bequests of money, and the proceeds of the sale of property, received under subsection (a) or (b) shall be deposited in the Treasury in the following accounts:
(d) Use of Gifts; Prohibitions.-(1) Except as provided in paragraph (2), property and money accepted under subsection (a) or (b) may be used by the Secretary concerned, and services accepted under such subsections may be performed, without further specific authorization in law.
(2) Property, money, and services may not be accepted under subsection (a) or (b)-
(e) Acceptance of Real Property Gifts; Naming Rights.-(1) The Secretary concerned may accept a gift under subsection (a) or (b) consisting of the provision, acquisition, enhancement, or construction of real property offered to the United States Military Academy, the Naval Academy, the Air Force Academy, or the Coast Guard Academy even though the gift will be subject to the condition that the real property, or a portion thereof, bear a specified name.
(3) A gift may not be accepted under paragraph (1) if-
(f) Payment of Expenses.-The Secretary concerned may pay all necessary expenses in connection with the conveyance or transfer of a gift, devise, or bequest accepted under this section.
(g) Treatment of Gifts.-For the purposes of Federal income, estate, and gift taxes, any property, money, or services accepted under subsection (a) or (b) shall be considered as a gift, devise, or bequest to or for the use of the United States.
(h) Management of Funds.-In the case of each gift fund referred to in subsection (c), the Secretary of the Treasury, upon the request of the Secretary concerned, may retain money, securities, and the proceeds of the sale of securities in the gift fund and may invest money and reinvest the proceeds of the sale of securities in the gift fund in securities of the United States or in securities guaranteed as to principal and interest by the United States. The interest and profits accruing from those securities shall be deposited to the credit of the gift fund and may be disbursed as provided in subsection (d).
(i) Comptroller General Review.-The Comptroller General shall make periodic audits of gifts, devises, and bequests accepted under subsection (a) or (b) at such intervals as the Comptroller General determines to be warranted. The Comptroller General shall submit to Congress a report on the results of each such audit.
(Aug. 10, 1956, ch. 1041, 70A Stat. 144 ; Pub. L. 96–513, title V, §511(86), Dec. 12, 1980, 94 Stat. 2927 ; Pub. L. 107–296, title XVII, §1704(b)(1), Nov. 25, 2002, 116 Stat. 2314 ; Pub. L. 109–163, div. A, title III, §374, Jan. 6, 2006, 119 Stat. 3211 ; Pub. L. 110–181, div. A, title V, §593(a), Jan. 28, 2008, 122 Stat. 138 ; Pub. L. 112–239, div. A, title V, §587(a), div. B, title XXVIII, §2852(a), Jan. 2, 2013, 126 Stat. 1768 , 2160; Pub. L. 114–92, div. B, title XXVIII, §2812, Nov. 25, 2015, 129 Stat. 1174 .)
Mar. 11, 1948, ch. 107, 62 Stat. 71 .
2015-Subsecs. (e) to (j). Pub. L. 114–92 added subsec. (e) and redesignated former subsecs. (e) to (i) as (f) to (j), respectively.
2013-Subsec. (a). Pub. L. 112–239, §2852(a)(1), designated existing provisions as par. (1), substituted "The" for "Subject to subsection (d)(2), the", and added par. (2).
2008-Subsec. (b)(4). Pub. L. 110–181 struck out par. (4) which read as follows: "The authority to accept gifts, devises, or bequests under this subsection expires on December 31, 2007."
2006-Pub. L. 109–163 reenacted section catchline without change and amended text generally. Prior to amendment, section consisted of subsecs. (a) to (d) relating to general gift funds.
2002-Subsec. (b)(4). Pub. L. 107–296 substituted "Secretary of Homeland Security" for "Secretary of Transportation".
1980-Subsec. (b)(4). Pub. L. 96–513 substituted "Secretary of Transportation" for "Secretary of the Treasury".
Pub. L. 110–181, div. A, title V, §593(b), Jan. 28, 2008, 122 Stat. 138 , provided that: "The Secretary of Defense shall prescribe regulations implementing sections 2601 and 2608 of title 10, United States Code, that prohibit the solicitation of any gift under such sections by any employee of the Department of Defense if the nature or circumstances of such solicitation would compromise the integrity or the appearance of integrity of any program of the Department of Defense or of any individual involved in such program."