
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 42USC12663]

 
                 TITLE 42--THE PUBLIC HEALTH AND WELFARE
 
               CHAPTER 129--NATIONAL AND COMMUNITY SERVICE
 
                SUBCHAPTER II--POINTS OF LIGHT FOUNDATION
 
Sec. 12663. Grants to Foundation


(a) In general

    Funds made available pursuant to sections 12662 and 12681(b) of this 
title shall be granted to the Foundation by a department or agency in 
the executive branch of the United States Government designated by the 
President--
        (1) to assist the Foundation in carrying out the undertakings 
    described in section 12661 of this title; and
        (2) for the administrative expenses of the Foundation.

(b) Interest earned on accounts

    Notwithstanding any other provision of law, the Foundation may hold 
funds granted to it pursuant to this subchapter in interest-bearing 
accounts, prior to the disbursement of such funds for purposes specified 
in subsection (a) of this section, and may retain for such purposes any 
interest earned on such deposits without returning such interest to the 
Treasury of the United States and without further appropriation by the 
Congress.

(Pub. L. 101-610, title III, Sec. 304, Nov. 16, 1990, 104 Stat. 3181.)

                  Section Referred to in Other Sections

    This section is referred to in section 12664 of this title.
