51 U.S.C. § 40902 — National Aeronautics and Space Administration Endeavor Teacher Fellowship Trust Fund
submitted 16 years ago by Pub. L. 111-314 to r/title-51-NATIONAL-AND-COMMERCIAL-SPACE-PROGRAMS · 293 words · no verdicts yet
NASA created the Endeavor Teacher Fellowship Trust Fund in the Treasury to honor the Space Shuttle Challenger crew. The fund's interest pays fellowships for U.S. students earning teaching degrees in these fields. In 2012, that interest also funded the Endeavor Science Teacher Certificate Program.
(a) Establishment
NASA created a trust fund in the U.S. Treasury, called the National Aeronautics and Space Administration* Endeavor Teacher Fellowship Trust Fund, as a tribute to the crew of the Space Shuttle Challenger. The Administrator* may, at their discretion, move money into this fund from the NASA Gifts and Donations Trust Fund.
(b) Investment of Trust Fund
The Administrator must direct the Secretary of the Treasury to invest and reinvest the fund's money in public debt securities with maturities that fit the fund's needs, earning interest based on current market rates for similar U.S. securities. That interest is credited to the fund.
(c) Purpose
As much as Congress provides in appropriations, the fund's interest income pays for the Endeavor Teacher Fellowship Program. The Administrator can use this money to give fellowships to selected U.S. nationals who are undergraduates working toward a certified teaching degree in elementary education, or in secondary math, science, or technology education, based on standards the Administrator sets.
(d) Availability of Funds
In fiscal year 2012, the fund's interest was also available to pay for the Endeavor Science Teacher Certificate Program.
There is established in the Treasury of the United States, in tribute to the dedicated crew of the Space Shuttle Challenger, a trust fund to be known as the National Aeronautics and Space Administration* Endeavor Teacher Fellowship Trust Fund (hereafter in this section referred to as the “Trust Fund”). The Trust Fund shall consist of amounts which may from time to time, at the discretion of the Administrator*, be transferred from the National Aeronautics and Space Administration Gifts and Donations Trust Fund.
The Administrator shall direct the Secretary of the Treasury to invest and reinvest funds in the Trust Fund in public debt securities with maturities suitable for the needs of the Trust Fund, and bearing 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 maturities. Interest earned shall be credited to the Trust Fund.
Income accruing from the Trust Fund principal shall be used to create the National Aeronautics and Space Administration Endeavor Teacher Fellowship Program, to the extent provided in advance in appropriation Acts. The Administrator is authorized to use such funds to award fellowships to selected United States nationals who are undergraduate students pursuing a course of study leading to certified teaching degrees in elementary education or in secondary education in mathematics, science, or technology disciplines. Awards shall be made pursuant to standards established for the fellowship program by the Administrator.
The interest accruing from the National Aeronautics and Space Administration Endeavor Teacher Fellowship Trust Fund principal shall be available in fiscal year 2012 for the purpose of the Endeavor Science Teacher Certificate Program.
Source credit: (Pub. L. 111–314, § 3, Dec. 18, 2010, 124 Stat. 3391; Pub. L. 112–55, div. B, title III, Nov. 18, 2011, 125 Stat. 626.)
- 2010Enacted · Pub. L. 111-314 · 124 Stat. 3391
- 2011Amended · Pub. L. 112-55 · 125 Stat. 626
A history note hasn’t been published yet. The record shows enactment by Pub. L. 111-314 on 2010-12-18.
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