Claims funds

Source Credit

(a) Establishment; coverage into Treasury; deduction
There are created in the Treasury of the United States five funds to be known as the Bulgarian Claims Fund, the Hungarian Claims Fund, the Rumanian Claims Fund, the Italian Claims Fund, and the Soviet Claims Fund. The Secretary of the Treasury shall cover into each of the Hungarian, Rumanian, and Bulgarian Claims Funds, the funds attributable to the respective country or its nationals covered into the Treasury pursuant to subsections (a) and (b) of section 1631a of this title. The Secretary of the Treasury shall cover into the Italian Claims Fund the sum of $5,000,000 paid to the United States by the Government of Italy pursuant to article II of the Memorandum of Understanding. The Secretary shall cover into the Treasury the funds collected by the United States pursuant to the Litvinov Assignment (including postal funds due prior to November 16, 1933, to the Union of Soviet Socialist Republics because of money orders certified to that country for payment) and shall cover into the Soviet Claims Fund the funds so covered into the Treasury. The Secretary shall deduct from each claims fund 5 per centum thereof as reimbursement to the Government of the United States for the expenses incurred by the Commission and by the Treasury Department in the administration of this subchapter. Such deduction shall be made before any payment is made out of such fund under section 1641i of this title. All amounts so deducted shall be covered into the Treasury to the credit of miscellaneous receipts.
(b) Bulgarian and Rumanian fund
The Secretary of the Treasury shall cover into each of the Bulgarian and Rumanian Claims Funds such sums as may be paid by the Government of the respective country pursuant to the terms of any claims settlement agreement between the Government of the United States and the Government of such country.
(c) Hungarian fund
The Secretary of the Treasury shall cover into the Hungarian Claims Fund, such sums as may be paid to the United States by the Government of Hungary pursuant to the terms of the United States Hungarian Claims Agreement of March 6, 1973.

History

(Mar. 10, 1950, ch. 54, title III, §302, as added Aug. 9, 1955, ch. 645, §3, 69 Stat. 571; amended Pub. L. 90–421, §1(8), July 24, 1968, 82 Stat. 422; Pub. L. 93–460, §1(1), Oct. 20, 1974, 88 Stat. 1386.)

Editorial Notes

Editorial Notes

Amendments
1974—Subsec. (c). Pub. L. 93–460 added subsec. (c).
1968—Pub. L. 90–421 designated existing provisions as subsec. (a) and added subsec. (b).