
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 31USC3113]

 
                       TITLE 31--MONEY AND FINANCE
 
                   SUBTITLE III--FINANCIAL MANAGEMENT
 
                         CHAPTER 31--PUBLIC DEBT
 
                    SUBCHAPTER I--BORROWING AUTHORITY
 
Sec. 3113. Accepting gifts

    (a) To provide the people of the United States with an opportunity 
to make gifts to the United States Government to be used to reduce the 
public debt--
        (1) the Secretary of the Treasury may accept for the Government 
    a gift of--
            (A) money made only on the condition that it be used to 
        reduce the public debt;
            (B) an obligation of the Government included in the public 
        debt made only on the condition that the obligation be canceled 
        and retired and not reissued; and
            (C) other intangible personal property made only on the 
        condition that the property is sold and the proceeds from the 
        sale used to reduce the public debt; and

        (2) the Administrator of General Services may accept for the 
    Government a gift of tangible property made only on the condition 
    that it be sold and the proceeds from the sale be used to reduce the 
    public debt.

    (b) The Secretary and the Administrator each may reject a gift under 
this section when the rejection is in the interest of the Government.
    (c) The Secretary and the Administrator shall convert a gift either 
of them accepts under subsection (a)(1)(C) or (2) of this section to 
money on the best terms available. If a gift accepted under subsection 
(a) of this section is subject to a gift or inheritance tax, the 
Secretary or the Administrator may pay the tax out of the proceeds of 
the gift or the proceeds of the redemption or sale of the gift.
    (d) The Treasury has an account into which money received as gifts 
and proceeds from the sale or redemption of gifts under this section 
shall be deposited. The Secretary shall use the money in the account to 
pay at maturity, or to redeem or buy before maturity, an obligation of 
the Government included in the public debt. An obligation of the 
Government that is paid, redeemed, or bought with money from the account 
shall be canceled and retired and may not be reissued. Money deposited 
in the account is appropriated and may be expended to carry out this 
section.
    (e)(1) The Secretary shall redeem a direct obligation of the 
Government bearing interest or sold on a discount basis on receiving it 
when the obligation--
        (A) is given to the Government;
        (B) becomes the property of the Government under the conditions 
    of a trust; or
        (C) is payable on the death of the owner to the Government (or 
    to an officer of the Government in the officer's official capacity).

    (2) If the gift or transfer to the Government is subject to a gift 
or inheritance tax, the Secretary shall pay the tax out of the proceeds 
of redemption.

(Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 943.)

                                          Historical and Revision Notes
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---------------------------------
           Revised Section                   Source (U.S. Code)                
Source (Statutes at Large)
-------------------------------------------------------------------------------
---------------------------------
3113(a)..............................  31:901(less (b)(proviso)).      June 27,
 1961, Pub. L. 87-58, 75 Stat.
                                                                        119.
3113(b)..............................  31:901(b)(proviso).
3113(c)..............................  31:902, 903.
3113(d)..............................  31:904.
3113(e)..............................  31:757e.                        Sept. 24
, 1917, ch. 56, 40 Stat. 288,
                                                                        Sec.  2
4; added Apr. 3, 1945, ch. 51,
                                                                        Sec.  4
, 59 Stat. 48.
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---------------------------------

    In subsection (a), before clause (1), the words ``In order'' are 
omitted as surplus. The words ``To provide'' are substituted for ``to 
afford'' for clarity. The words ``for the purpose'' are omitted as 
unnecessary. In clauses (1) and (2), the word ``for'' is substituted for 
``on behalf of'' for consistency. The word ``realized'' is omitted as 
surplus. In clause (2), the word ``tangible'' is substituted for ``real 
or personal'' to eliminate unnecessary words.
    In subsections (b) and (c), the words ``as the case may be'' are 
omitted as unnecessary.
    In subsection (c), the words ``under applicable law'' are omitted as 
surplus.
    In subsection (d), the words ``on the books of'' and ``special'' are 
omitted as surplus. The words ``proceeds from the sale or redemption of 
gifts'' are substituted for ``all money received as a result of the 
conversion into money of gifts of property other than money received'' 
for clarity and consistency.
    In subsection (e)(1), the word ``Secretary'' is substituted for 
``Treasurer of the United States'' because of the source provisions 
restated in section 321(c) of the revised title. In clause (A), the word 
``given'' is substituted for ``is donated . . . is bequeathed by will'' 
to eliminate unnecessary words. In clause (B), the word ``conditions'' 
is substituted for ``terms'' for consistency in the revised title and 
with other titles of the United States Code. In clause (C), the words 
``by its terms'' are omitted as surplus.
    In subsection (e)(2), the words ``under applicable law'' and 
``bequest'' are omitted as surplus. The words ``and shall deposit the 
balance in the Treasury as miscellaneous receipts or as otherwise 
authorized by law'' are omitted as surplus because of section 3302(a) of 
the revised title. The text of 31:757e(last sentence) is omitted because 
of the restatement.

                  Section Referred to in Other Sections

    This section is referred to in title 26 section 2055.
