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LegalText 15 U.S.C. § 205g Gifts, donations and bequests to Board us united_states_code code_section 15 COMMERCE AND TRADE 6 WEIGHTS AND MEASURES AND STANDARD TIME 205g 15 U.S.C. § 205g current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc15@119-100.zip /us/usc/t15/s205g data/legal/raw/us/code/title-15/usc15.xml 48b53d884566349067f5c3b351bff8a70c62ed4f630ca4f13a6991e969ad3d62 6982338d990ef19d6b52bff6825089bdd6d0ee1233d9382673faf533decd5059 1e27af15d7c5879467a6bb2cca0afa862e85a0f1c9d0476f38b3f16718e71a2e 2026-07-04 official
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15 U.S.C. § 205g - Gifts, donations and bequests to Board

Text

(a) Authorization; deposit into Treasury and disbursement The Board may accept, hold, administer, and utilize gifts, donations, and bequests of property, both real and personal, and personal services, for the purpose of aiding or facilitating the work of the Board. Gifts and bequests of money, and the proceeds from the sale of any other property received as gifts or requests, shall be deposited in the Treasury in a separate fund and shall be disbursed upon order of the Board.

(b) Federal income, estate, and gift taxation of property For purpose of Federal income, estate, and gift taxation, property accepted under subsection (a) of this section shall be considered as a gift or bequest to or for the use of the United States.

(c) Investment of moneys; disbursement of accrued income Upon the request of the Board, the Secretary of the Treasury may invest and reinvest, in securities of the United States, any moneys contained in the fund authorized in subsection (a) of this section. Income accruing from such securities, and from any other property accepted to the credit of such fund, shall be dispersed upon the order of the Board.

(d) Reversion to Treasury of unexpended funds Funds not expended by the Board as of the date when it ceases to exist, in accordance with section 205d(d) of this title, shall revert to the Treasury of the United States as of such date.

(Pub. L. 94168, § 8, Dec. 23, 1975, 89 Stat. 1011.)