20 U.S.C. § 5606 — Establishment of Morris K. Udall and Stewart L. Udall Trust Fund
submitted 34 years ago by Pub. L. 102-259 to r/title-20-EDUCATION · 199 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
There is established in the Treasury of the United States a trust fund to be known as the “Morris K. Udall and Stewart L. Udall Trust Fund” to be administered by a Foundation*. The Trust Fund shall consist of amounts appropriated to it pursuant to section 5609(a) of this title and amounts credited to it under subsection (b).
It shall be the duty of the Secretary of the Treasury to invest, at the direction of the Foundation Board*, in full the amounts appropriated to the Trust Fund. Such investments shall be in public debt securities with maturities suitable to the needs of the Trust Fund. Investments in public debt securities shall bear 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 maturity. Beginning on October 1, 2023, and thereafter, interest earned from investments made with any new appropriations to the Trust Fund shall only be available subject to appropriations and is authorized to be appropriated to carry out the provisions of this chapter.
Source credit: (Pub. L. 102–259, § 8, Mar. 19, 1992, 106 Stat. 82; Pub. L. 105–156, § 9, Feb. 11, 1998, 112 Stat. 12; Pub. L. 111–90, § 7, Nov. 3, 2009, 123 Stat. 2978; Pub. L. 118–47, div. G, title II, § 202, Mar. 23, 2024, 138 Stat. 858.)
- 1992Enacted · Pub. L. 102-259 · 106 Stat. 82
- 1998Amended · Pub. L. 105-156 · 112 Stat. 12
- 2009Amended · Pub. L. 111-90 · 123 Stat. 2978
- 2024Amended · Pub. L. 118-47 · 138 Stat. 858
A history note hasn’t been published yet. The record shows enactment by Pub. L. 102-259 on 1992-03-19.
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