U.S Code last checked for updates: Nov 22, 2024
All TitlesTitle 20Chapter 52Subchapter V
§ 4022.
Asbestos Trust Fund
(a)
Creation of Trust Fund
(b)
Transfers to Trust Fund
(1)
Transfer
There are hereby transferred to the Asbestos Trust Fund amounts equivalent to—
(A)
amounts received in the Treasury on or after January 1, 1987, as repayments of loans made under section 4014 of this title,
(B)
amounts received as deposits from local educational agencies under section 2647(a) of title 15, and
(C)
amounts received as proceeds from any judgment recovered in any suit brought pursuant to section 4017(a)(1) of this title.
(2)
Monthly transfers
(c)
Management of Trust Fund
(1)
Investment
(A)
In general
The Secretary of the Treasury shall invest such portion of the Asbestos Trust Fund as is not, in his judgment, required to meet current withdrawals. Such investments may be made only in interest-bearing obligations of the United States and may be acquired—
(i)
on original issue at the issue price, or
(ii)
by purchase of outstanding obligations at the market price.
(B)
Sale of obligations
(C)
Interest on certain proceeds
(2)
Repealed. Pub. L. 104–66, title I, § 1131(c), Dec. 21, 1995, 109 Stat. 725
(d)
Expenditures from Asbestos Trust Fund
(e)
Authority to borrow
(1)
In general
(2)
Repayment of advances
(A)
In general
(B)
Rate of interest
(f)
Effective date
(Pub. L. 99–519, § 5, Oct. 22, 1986, 100 Stat. 2990; Pub. L. 101–637, § 12, Nov. 28, 1990, 104 Stat. 4593; Pub. L. 104–66, title I, § 1131(c), Dec. 21, 1995, 109 Stat. 725.)
cite as: 20 USC 4022
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