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U.S Code last checked for updates: Nov 22, 2024
All Titles
Title 20
Chapter 66
§ 5605. Authority of Foundation...
§ 5607. Expenditures and audit o...
§ 5605. Authority of Foundation...
§ 5607. Expenditures and audit o...
U.S. Code
Notes
§ 5606.
Establishment of Morris K. Udall and Stewart L. Udall Trust Fund
(a)
Establishment of Trust Fund
(b)
Investment of Trust Fund assets
(1)
1
1
So in original. No par. (2) has been enacted.
In general
.—
It shall be the duty of the Secretary of the Treasury to invest, at the direction of the Foundation Board, in full the amounts appropriated to the Trust Fund. Such investments shall be in public debt securities with maturities suitable to the needs of the Trust Fund. Investments in public debt securities shall bear 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 maturity. Beginning on
October 1, 2023
, and thereafter, interest earned from investments made with any new appropriations to the Trust Fund shall only be available subject to appropriations and is authorized to be appropriated to carry out the provisions of this chapter.
(
cite as:
20 USC 5606
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