
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document affected by Public Law 107-117 Section 913]
[CITE: 40USC188a-2]

 
             TITLE 40--PUBLIC BUILDINGS, PROPERTY, AND WORKS
 
                 CHAPTER 2--CAPITOL BUILDING AND GROUNDS
 
Sec. 188a-2. Capitol Preservation Fund


(a) In general

    There is established in the Treasury a fund, to be known as the 
``Capitol Preservation Fund'' (hereafter in sections 188a to 188a-5 of 
this title referred to as the ``fund''), which shall consist of (1) 
amounts deposited, and interest and proceeds credited, under subsection 
(d) of this section, (2) obligations obtained under subsection (e) of 
this section, and (3) all surcharges received by the Secretary of the 
Treasury from the sale of coins minted under the Bicentennial of the 
United States Congress Commemorative Coin Act.

(b) Availability of fund

    The fund shall be available to the Commission--
        (1) for payment of transaction costs and similar expenses 
    incurred under section 188a-1 of this title;
        (2) subject to the approval of the Committee on Appropriations 
    of the House of Representatives and the Committee on Appropriations 
    of the Senate, for improvement and preservation projects for the 
    United States Capitol;
        (3) for disbursement with respect to works of fine art and other 
    property as provided in section 188a-1 of this title; and
        (4) for such other payments as may be required to carry out 
    section 188a of this title or section 188a-1 of this title.

(c) Transaction costs and proportionality

    In carrying out this section, the Commission shall, to the extent 
practicable, take such action as may be necessary--
        (1) to minimize disbursements under subsection (b)(1) of this 
    section; and
        (2) to equalize disbursements under subsection (b) of this 
    section between the Senate and the House of Representatives.

(d) Deposits, credits, and disbursements

    The Commission shall deposit in the fund gifts of money and proceeds 
of transactions under section 188a-1 of this title. The Secretary of the 
Treasury shall credit to the fund the interest on, and the proceeds from 
sale or redemption of, obligations held in the fund. Disbursements from 
the fund shall be made on vouchers approved by the Commission and signed 
by the co-chairmen.

(e) Investments

    The Secretary of the Treasury shall invest any portion of the fund 
that, as determined by the Commission, is not required to meet current 
withdrawals. Each investment shall be made in an interest bearing 
obligation of the United States or an obligation guaranteed as to 
principal and interest by the United States that, as determined by the 
Commission has a maturity suitable for the fund. In carrying out this 
subsection, the Secretary may make such purchases, sales, and 
redemptions of obligations as may be approved by the Commission.

(Pub. L. 100-696, title VIII, Sec. 803, Nov. 18, 1988, 102 Stat. 4609; 
Pub. L. 101-302, title III, Sec. 312(b), May 25, 1990, 104 Stat. 245.)

                       References in Text

    The Bicentennial of the United States Congress Commemorative Coin 
Act, referred to in subsec. (a), is Pub. L. 100-673, Nov. 17, 1988, 102 
Stat. 3992, which is set out as a note under section 5112 of Title 31, 
Money and Finance.


                               Amendments

    1990--Subsec. (b). Pub. L. 101-302, Sec. 312(b)(1), struck out 
``subject to the approval, except for the purchase of fine art and 
antiques, of the Committees on Appropriations of the House of 
Representatives and Senate, respectively'' after ``The fund shall be 
available to the Commission''.
    Subsec. (b)(2). Pub. L. 101-302, Sec. 312(b)(2), inserted ``subject 
to the approval of the Committee on Appropriations of the House of 
Representatives and the Committee on Appropriations of the Senate,'' 
before ``For improvement''.

                  Section Referred to in Other Sections

    This section is referred to in sections 188a, 188a-1, 188a-5 of this 
title.
