31 U.S.C. § 3113 — Accepting gifts

(a) To give people in the United States a way to make gifts for reducing the public debt: (1) the Treasury Secretary may accept: (A) money conditioned only on its use to reduce the debt; (B) a Government obligation in the public debt conditioned only on cancellation, retirement, and no reissue; and (C) other intangible personal property conditioned only on its sale and use of the proceeds to reduce the debt; and (2) the General Services Administrator may accept tangible property conditioned only on its sale and use of the proceeds to reduce the debt. (b) Either official may reject a gift when rejection is in the Government’s interest. (c) The Secretary or Administrator must convert an accepted gift under (a)(1)(C) or (a)(2) into money on the best available terms. If an accepted gift is subject to a gift or inheritance tax, either official may pay that tax from the gift’s proceeds or from its redemption or sale proceeds. (d) The Treasury must maintain an account for money received as gifts and proceeds from their sale or redemption. The Secretary must use the account to pay at maturity, redeem before maturity, or buy before maturity a Government obligation included in the public debt. Any obligation paid, redeemed, or bought this way must be canceled and retired and may not be reissued. Money deposited in the account is appropriated and may be spent to carry out this section. (e) (1) When received, the Secretary must redeem a direct Government obligation that bears interest or was sold at a discount if it: (A) is given to the Government; (B) becomes Government property under a trust; or (C) is payable at the owner’s death to the Government or to a Government officer in the officer’s official capacity. (2) If the gift or transfer is subject to a gift or inheritance tax, the Secretary must pay the tax from the redemption proceeds.