22 U.S.C. § 285e — Authorization of appropriations; income covered into Treasury

submitted 60 years ago by Pub. L. 89-369 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 53 words · no verdicts yet

in plain englishAI-generated · not legal advice

Congress may appropriate $200,000,000 to buy 20,000 shares of the Bank's capital stock. This money has no yearly limit. Any income the Bank pays the U.S. as a share of its net income goes to the Treasury.

(a) Congress is authorized to appropriate $200,000,000, with no fiscal-year limit, to buy twenty thousand shares of the Bank's capital stock. (b) Any payment the Bank makes to the United States as a distribution of its net income must be deposited into the Treasury as a miscellaneous receipt.

the actual law source: uscode.house.gov ↗public domain

(a)

There is hereby authorized to be appropriated, without fiscal year limitation, for the purchase of twenty thousand shares of capital stock of the Bank, $200,000,000.

(b)

Any payment made to the United States by the Bank as a distribution of net income shall be covered into the Treasury as a miscellaneous receipt.

Source credit: (Pub. L. 89–369, § 7, Mar. 16, 1966, 80 Stat. 72.)

history & why it existsrecord from the source credit

1966Enacted · Pub. L. 89-369 · 80 Stat. 72

A history note hasn’t been published yet. The record shows enactment by Pub. L. 89-369 on 1966-03-16.

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