usc:us:2:160

text: U.S.C. Title 2 - THE CONGRESS 2 U.S.C. United States Code, 2024 Edition Title 2 - THE CONGRESS CHAPTER 5 - LIBRARY OF CONGRESS Sec. 160 - Disbursement of gifts, etc., to Library From the U.S. Government Publishing Office, www.gpo.gov §160. Disbursement of gifts, etc., to Library Nothing in sections 154 to 162 and 163 1 of this title shall be construed as prohibiting or restricting the Librarian of Congress from accepting in the name of the United States gifts or bequests in the interest of the Library, its collections, or its service, of the following: (1) nonpersonal services; (2) voluntary and uncompensated personal services not to exceed $10,000 per person, per year in value; (3) gifts or bequests of money for immediate disbursement; and (4) gifts or bequests of securities or other personal property. Such gifts or bequests of money, after acceptance by the librarian, shall be paid by the donor or his representative to the Treasurer of the United States, whose receipts shall be their acquittance. In the case of a gift of securities, the Librarian shall sell the gift and provide the donor with such acknowledgment as needed for the donor to substantiate the gift. The Treasurer of the United States shall enter the gift, bequest, or proceeds in a special account to the credit of the Library of Congress and subject to disbursement by the librarian for the purposes in each case specified. The Librarian shall make an annual public report regarding gifts accepted under this section. Upon agreement by the Librarian of Congress and the Board, a gift or bequest accepted by the Librarian under the first paragraph of this section may be invested or reinvested in the same manner as provided for trust funds under section 157 of this title. (Mar. 3, 1925, ch. 423, §4, 43 Stat. 1108; Pub. L. 105–55, title II, §208, Oct. 7, 1997, 111 Stat. 1194; Pub. L. 115–141, div. I, title I, §152, Mar. 23, 2018, 132 Stat. 784; Pub. L. 117–103, div. I, title I, §141(a), Mar. 15, 2022, 136 Stat. 518.) Editorial Notes References in Text Section 163 of this title, referred to in text, was omitted from the Code. Amendments 2022 —Pub. L. 117–103, in first paragraph, struck out "and" before "(3) gifts or bequests of money for immediate disbursement", substituted "; and (4) gifts or bequests of securities or other personal property." for period at end of first sentence, inserted "of money" after "Such gifts or bequests" in second sentence, inserted "In the case of a gift of securities, the Librarian shall sell the gift and provide the donor with such acknowledgment as needed for the donor to substantiate the gift." after second sentence, and substituted "The Treasurer of the United States shall enter the gift, bequest, or proceeds" for "The Treasurer of the United States shall enter them" in penultimate sentence. 2018 —Pub. L. 115–141, in first paragraph, struck out "of money for immediate disbursement" after "gifts or bequests", substituted ", of the following: (1) nonpersonal services; (2) voluntary and uncompensated personal services not to exceed $10,000 per person, per year in value; and (3) gifts or bequests of money for immediate disbursement." for period at end of first sentence, and inserted at end "The Librarian shall make an an nual public report regarding gifts accepted under this section." 1997 —Pub. L. 105–55 added second par. Statutory Notes and Related Subsidiaries Effective Date of 2022 Amendment Pub. L. 117–103, div. I, title I, §141(b), Mar. 15, 2022, 136 Stat. 519, provided that: "The amendments made by this section [amending this section] shall apply with respect to fiscal year 2022 and each succeeding fiscal year." 1 See References in Text note below.