§ 419. — Retirement Home Trust Fund.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 24USC419]
TITLE 24--HOSPITALS AND ASYLUMS
CHAPTER 10--ARMED FORCES RETIREMENT HOME
SUBCHAPTER I--ESTABLISHMENT AND OPERATION OF RETIREMENT HOME
Sec. 419. Armed Forces Retirement Home Trust Fund
(a) Establishment
There is hereby established in the Treasury of the United States a
trust fund to be known as the Armed Forces Retirement Home Trust Fund.
The Fund shall consist of the following:
(1) Such amounts as may be transferred to the Fund.
(2) Moneys deposited in the Fund by the Retirement Home Board
realized from gifts or from the disposition of property and
facilities.
(3) Amounts deposited in the Fund as monthly fees paid by
residents of the Retirement Home under section 414 of this title.
(4) Amounts of fines and forfeitures deposited in the Fund under
section 2772 of title 10.
(5) Amounts deposited in the Fund as deductions from the pay of
enlisted members, warrant officers, and limited duty officers under
section 1007(i) of title 37.
(6) Interest from investments made under subsection (c) of this
section.
(b) Availability and use of Fund
Amounts in the Fund shall be available solely for the operation of
the Retirement Home.
(c) Investments
The Secretary of the Treasury may invest in obligations issued or
guaranteed by the United States any monies in the Fund that the Chief
Operating Officer determines are not currently needed to pay for the
operation of the Retirement Home.
(Pub. L. 101-510, div. A, title XV, Sec. 1519, Nov. 5, 1990, 104 Stat.
1730; Pub. L. 107-107, div. A, title XIV, Secs. 1404(b)(2), 1410(a)(2),
(b)(2), Dec. 28, 2001, 115 Stat. 1260, 1266.)
Amendments
2001--Pub. L. 107-107, Sec. 1410(a)(2), inserted ``Armed Forces''
before ``Retirement Home Trust Fund'' in section catchline.
Subsec. (c). Pub. L. 107-107, Sec. 1404(b)(2), substituted ``Chief
Operating Officer'' for ``Director''.
Subsec. (d). Pub. L. 107-107, Sec. 1410(b)(2), struck out heading
and text of subsec. (d). Text read as follows:
``(1) During the period beginning on November 5, 1990, and ending on
September 30, 1994, the Fund shall contain a separate account for each
establishment of the Retirement Home. During that period, contributions
shall be collected under subsection (a) of this section for the account
of the Naval Home for the purpose of achieving a trust fund five times
the estimated annual operating budget of the Naval Home.
``(2) Beginning on November 5, 1990, funds required for the
operation of the United States Soldiers' and Airmen's Home shall be
drawn from the appropriate account. Beginning on October 1, 1991, funds
required for the operation of the Naval Home shall be drawn from the
account of the Naval Home.
``(3) During the period beginning on November 5, 1990, and ending on
September 30, 1994--
``(A) amounts collected as monthly fees paid by residents of the
Naval Home and amounts referred to in subsections (a)(4) and (a)(5)
of this section derived from enlisted members, warrant officers, and
limited duty officers of the Navy, Marine Corps, and Coast Guard
shall be credited to the account relating to that establishment; and
``(B) amounts collected as monthly fees paid by residents of the
United States Soldiers' and Airmen's Home and amounts referred to in
subsections (a)(4) and (a)(5) of this section derived from members
and warrant officers of the Army and Air Force shall be credited to
the account relating to that establishment.''
Effective Date
Section effective Nov. 5, 1990, see section 1541(b) of Pub. L. 101-
510, formerly set out as a note under section 401 of this title.
Section Referred to in Other Sections
This section is referred to in section 401 of this title.
