§ 205g. — Gifts, donations and bequests to Board.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC205g]
TITLE 15--COMMERCE AND TRADE
CHAPTER 6--WEIGHTS AND MEASURES AND STANDARD TIME
SUBCHAPTER II--METRIC CONVERSION
Sec. 205g. Gifts, donations and bequests to Board
(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. 94-168, Sec. 8, Dec. 23, 1975, 89 Stat. 1011.)
