22 U.S.C. § 1641a — Claims funds
submitted 76 years ago by ch. 54 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 361 words · no verdicts yet
This section creates five Treasury claims funds and tells the Treasury Secretary what money to place in each fund. It also requires a 5% deduction for administration before awards are paid.
(a) Five funds and deductions. The Treasury must create the Bulgarian, Hungarian, Rumanian, Italian, and Soviet Claims Funds. The Treasury Secretary must place in the Bulgarian, Hungarian, and Rumanian Funds the money attributable to each country or its nationals that was placed in the Treasury under section 1631a(a) and (b). The Secretary must place $5,000,000 paid by Italy under article II of the Memorandum of Understanding in the Italian Fund. The Secretary must place in the Treasury money collected under the Litvinov Assignment, including pre-November 16, 1933 postal money orders due to the Soviet Union, and then place that money in the Soviet Fund. From each fund, before any payment under section 1641i, the Secretary must deduct 5% to reimburse United States administration costs. The deductions go into Treasury miscellaneous receipts. (b) Bulgarian and Rumanian money. The Secretary must place in each of those funds money paid by the corresponding government under a claims settlement agreement with the United States. (c) Hungarian money. The Secretary must place in the Hungarian Fund money paid by Hungary under the United States-Hungarian Claims Agreement of March 6, 1973.
There are created in the Treasury of the United States five funds to be known as the Bulgarian Claims Fund, the Hungarian Claims Fund, the Rumanian Claims Fund, the Italian Claims Fund, and the Soviet Claims Fund. The Secretary of the Treasury shall cover into each of the Hungarian, Rumanian, and Bulgarian Claims Funds, the funds attributable to the respective country or its nationals covered into the Treasury pursuant to subsections (a) and (b) of section 1631a of this title. The Secretary of the Treasury shall cover into the Italian Claims Fund the sum of $5,000,000 paid to the United States by the Government of Italy pursuant to article II of the Memorandum of Understanding. The Secretary shall cover into the Treasury the funds collected by the United States pursuant to the Litvinov Assignment (including postal funds due prior to November 16, 1933, to the Union of Soviet Socialist Republics because of money orders certified to that country for payment) and shall cover into the Soviet Claims Fund the funds so covered into the Treasury. The Secretary shall deduct from each claims fund 5 per centum thereof as reimbursement to the Government of the United States for the expenses incurred by the Commission and by the Treasury Department in the administration of this subchapter. Such deduction shall be made before any payment is made out of such fund under section 1641i of this title. All amounts so deducted shall be covered into the Treasury to the credit of miscellaneous receipts.
The Secretary of the Treasury shall cover into each of the Bulgarian and Rumanian Claims Funds such sums as may be paid by the Government of the respective country pursuant to the terms of any claims settlement agreement between the Government of the United States and the Government of such country.
The Secretary of the Treasury shall cover into the Hungarian Claims Fund, such sums as may be paid to the United States by the Government of Hungary pursuant to the terms of the United States Hungarian Claims Agreement of March 6, 1973.
Source credit: (Mar. 10, 1950, ch. 54, title III, § 302, as added Aug. 9, 1955, ch. 645, § 3, 69 Stat. 571; amended Pub. L. 90–421, § 1(8), July 24, 1968, 82 Stat. 422; Pub. L. 93–460, § 1(1), Oct. 20, 1974, 88 Stat. 1386.)
- 1950Enacted · Act of Mar. 10, 1950, ch. 54 · 69 Stat. 571
- 1968Amended · Pub. L. 90-421 · 82 Stat. 422
- 1974Amended · Pub. L. 93-460 · 88 Stat. 1386
A history note hasn’t been published yet. The record shows enactment by ch. 54 on 1950-03-10.
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