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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 09:52:37 -04:00

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LegalText 2 U.S.C. § 158 Deposits by Library of Congress Trust Fund Board with Treasurer of United States us united_states_code code_section 2 THE CONGRESS 5 LIBRARY OF CONGRESS 158 2 U.S.C. § 158 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc02@119-100.zip /us/usc/t2/s158 data/legal/raw/us/code/title-02/usc02.xml c8783809464bc14be73eaec389ddf90c3c83fdaf1ca03f80143936578538cf99 ec6910a011de0a97d11b263bbcd649766188311e429ae6bdb5fc2cf5e6ebbb9e c2e29ed1a194012b2b3ea71b167acd9214300d3bbcadccaade5f903d8e39d86f 2026-07-04 official
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2 U.S.C. § 158 - Deposits by Library of Congress Trust Fund Board with Treasurer of United States

Text

In the absence of any specification to the contrary, the board may deposit the principal sum, in cash, with the Treasurer of the United States as a permanent loan to the United States Treasury, and the Treasurer shall thereafter credit such deposit with interest at a rate which is the higher of the rate of 4 per centum per annum or a rate which is 0.25 percentage points less than a rate determined by the Secretary of the Treasury, taking into consideration the current average market yield on outstanding long-term marketable obligations of the United States, adjusted to the nearest one-eighth of 1 per centum, payable semi-annually, such interest, as income, being subject to disbursement by the Librarian of Congress for the purposes specified: Provided, however, That the total of such principal sums at any time so held by the Treasurer under this authorization shall not exceed the sum of $10,000,000.

(Mar. 3, 1925, ch. 423, § 2, formerly § 1, 43 Stat. 1107; renumbered § 2, Apr. 13, 1936, ch. 213, 49 Stat. 1205; amended June 23, 1936, ch. 734, 49 Stat. 1894; Pub. L. 87522, July 3, 1962, 76 Stat. 135; Pub. L. 94289, May 22, 1976, 90 Stat. 521.)

Notes

Editorial Notes

Codification Section is comprised of third par. of section 2 of act Mar. 3, 1925. First, second, and fourth pars. of section 2 are classified to sections 156, 157, and 158a of this title, respectively.

Amendments1976—Pub. L. 94289 substituted “a rate which is the higher of the rate of 4 per centum per annum or a rate which is 0.25 percentage points less than a rate determined by the Secretary of the Treasury, taking into consideration the current average market yield on outstanding long-term marketable obligations of the United States, adjusted to the nearest one-eighth of 1 per centum” for “the rate of 4 per centum per annum”. 1962—Pub. L. 87522 increased the total amount of deposits which can be held by the Treasurer from $5,000,000 to $10,000,000. 1936—Act June 23, 1936, substituted “in the absence of any specification to the contrary” for “Should any gift or bequest so provide”.