34 U.S.C. § 10158 — Interest-bearing trust funds

FEDERAL · 34 U.S.C. · Chapter 101

Interest-bearing trust funds

Current through Pub. L. 119-102

Title 34 — Crime Control and Law Enforcement·Ch. 101 — JUSTICE SYSTEM IMPROVEMENT·Subch. V·Pt. A

(a)Trust fund required A State or unit of local government shall establish a trust fund in which to deposit amounts received under this part.

(b)Expenditures

(1)In general Each amount received under this part (including interest on such amount) shall be expended before the date on which the grant period expires.

(2)Repayment A State or unit of local government that fails to expend an entire amount (including interest on such amount) as required by paragraph (1) shall repay the unexpended portion to the Attorney General not later than 3 months after the date on which the grant period expires.

(3)Reduction of future amounts If a State or unit of local government fails to comply with paragraphs (1) and (2), the Attorney General shall reduce amounts to be provided to that State or unit of

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Trust fund required
A State or unit of local government shall establish a trust fund in which to deposit amounts received under this part.
(b) Expenditures
(1) In general
Each amount received under this part (including interest on such amount) shall be expended before the date on which the grant period expires.
(2) Repayment
A State or unit of local government that fails to expend an entire amount (including interest on such amount) as required by paragraph (1) shall repay the unexpended portion to the Attorney General not later than 3 months after the date on which the grant period expires.
(3) Reduction of future amounts
If a State or unit of local government fails to comply with paragraphs (1) and (2), the Attorney General shall reduce amounts to be provided to that State or unit of local government accordingly.
(c) Repaid amounts
Amounts received as repayments under this section shall be subject to section 10108 of this title as if such amounts had not been granted and repaid. Such amounts shall be deposited in the Treasury in a dedicated fund for use by the Attorney General to carry out this part. Such funds are hereby made available to carry out this part.

34 U.S.C. § 10158 (Interest-bearing trust funds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Pub. L. 90–351, title I, §507, as added Pub. L. 109–162, title XI, §1111(a)(2)(C), Jan. 5, 2006, 119 Stat. 3100.)

Editorial Notes

Editorial Notes

Codification
Section was formerly classified to section 3757 of Title 42, The Public Health and Welfare, prior to editorial reclassification and renumbering as this section.

Prior Provisions
A prior section 507 of title I of Pub. L. 90–351, as added Pub. L. 100–690, title VI, §6091(a), Nov. 18, 1988, 102 Stat. 4335, related to designation and purposes of a State office, prior to repeal by Pub. L. 109–162, title XI, §1111(a)(1), (d), Jan. 5, 2006, 119 Stat. 3094, 3102, applicable with respect to the first fiscal year beginning after Jan. 5, 2006, and each fiscal year thereafter.
Another prior section 507 of Pub. L. 90–351, title I, June 19, 1968, 82 Stat. 205; Pub. L. 93–83, §2, Aug. 6, 1973, 87 Stat. 211; Pub. L. 94–503, title I, §§119(b), 121, Oct. 15, 1976, 90 Stat. 2417, 2418, related to officers, employees, and hearing examiners, prior to the general amendment of title I of Pub. L. 90–351 by Pub. L. 96–157.

Statutory Notes and Related Subsidiaries

Effective Date
Section applicable with respect to the first fiscal year beginning after Jan. 5, 2006, and each fiscal year thereafter, see section 1111(d) of Pub. L. 109–162, set out as an Effective Date of 2006 Amendment note under section 10151 of this title.