§ 2269. — Gifts of property; acceptance and administration by Secretary of Agriculture; Federal tax law consideration; separate fund in Treasury; regulations.
[Laws in effect as of January 7, 2003]
[Document not affected by Public Laws enacted between
January 7, 2003 and December 19, 2003]
[CITE: 7USC2269]
TITLE 7--AGRICULTURE
CHAPTER 55--DEPARTMENT OF AGRICULTURE
Sec. 2269. Gifts of property; acceptance and administration by
Secretary of Agriculture; Federal tax law consideration;
separate fund in Treasury; regulations
Notwithstanding any other provision of law, the Secretary of
Agriculture is authorized to accept, receive, hold, utilize, and
administer on behalf of the United States gifts, bequests, or devises of
real and personal property made for the benefit of the United States
Department of Agriculture or for the carrying out of any of its
functions. For the purposes of the Federal income, estate, and gift tax
laws, property accepted under the authority of this section shall be
considered as a gift, bequest, or devise to the United States. Any gift
of money accepted pursuant to the authority granted in this section, or
the net proceeds from the liquidation of any property so accepted, or
the proceeds of any insurance on any gift property not used for its
restoration shall be deposited in the Treasury of the United States for
credit to a separate fund and shall be disbursed upon order of the
Secretary of Agriculture. The Secretary of Agriculture may promulgate
regulations to carry out the provisions of this section.
(Pub. L. 95-442, Oct. 10, 1978, 92 Stat. 1065.)
Section Referred to in Other Sections
This section is referred to in section 3152 of this title; title 16
sections 460lll-26, 1650.
