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16 U.S.C. § 579c-1 - U.S. Code - Unannotated Title 16. Conservation § 579c-1. Forest Service interest bearing account

Current as of January 01, 2024 | Updated by Findlaw Staff

(a)Investment authority

Any monies covered into the Treasury under section 579c of this title, including all monies that were previously collected by the United States in a forfeiture, judgment, compromise, or settlement, shall be invested by the Secretary of the Treasury in interest bearing obligations of the United States to the extent the amounts are not, in the judgment of the Secretary of the Treasury, required to meet current withdrawals.

(b)Availability of funds

Any interest earned under subsection (a) shall be available in the same manner as the monies covered into the Treasury under section 579c of this title to cover the costs to the United States specified in section 579c of this title.

(c)Use of funds

Any portion of the monies received or earned under subsection (a) in excess of the amount expended in performing the work necessitated by the action which led to their receipt may be used to cover the other work specified in section 579c of this title.

(d)Effective date

This section shall apply with respect to fiscal year 2023 and each succeeding fiscal year.

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Cite this article: FindLaw.com - 16 U.S.C. § 579c-1 - U.S. Code - Unannotated Title 16. Conservation § 579c-1. Forest Service interest bearing account - last updated January 01, 2024 | https://codes.findlaw.com/us/title-16-conservation/16-usc-sect-579c-1/

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