31 U.S.C. § 9702 — Investment of trust funds

Page 590 TITLE 31—MONEY AND FINANCE § 9702 1 See References in Text note below. consistency and to eliminate unnecessary words. The words ‘‘(including groups, associations, organizations, partnerships, corporations, or businesses)’’ are omitted as being included in ‘‘person’’ under 1:1. In subsection (b), before clause (1), the words ‘‘may prescribe regulations establishing the charge for a serv- ice or thing of value provided by the agency’’ are sub- stituted for ‘‘is authorized by regulation . . . to pre- scribe therefor such fee, charge, or price, if any, as he shall determine, in case none exists, or redetermine, in case of any existing one’’ for consistency, to eliminate unnecessary words, and because of the restatement. In clause (1), the words ‘‘and equitable’’ are omitted as being included in ‘‘fair’’. In clause (2)(A), the words ‘‘di- rect and indirect’’ are omitted as surplus. In clause (2)(B), the words ‘‘of the service or thing’’ are added for clarity. In clause (2)(D), the words ‘‘and any amount so determined or redetermined shall be collected and paid into the Treasury as miscellaneous receipts’’ are omit- ted as unnecessary because of section 3302(a) of this title. Subsection (c) is substituted for 31:483a(provisos) for clarity and to eliminate unnecessary words. Statutory Notes and Related Subsidiaries SHORT TITLE OF 1992 AMENDMENT Pub. L. 102–393, title VI, § 638(a), Oct. 6, 1992, 106 Stat. 1779, provided that: ‘‘This section [enacting section 9703 of this title and amending sections 981 and 982 of Title 18, Crimes and Criminal Procedure, section 1509 of Title 21, Food and Drugs, section 524 of Title 28, Judiciary and Judicial Procedure, and section 2003 of Title 39, Postal Service] may be cited as the ‘Treasury For- feiture Fund Act of 1992’.’’ § 9702. Investment of trust funds Except as required by a treaty of the United States, amounts held in trust by the United States Government (including annual interest earned on the amounts)— (1) shall be invested in Government obliga- tions; and (2) shall earn interest at an annual rate of at least 5 percent. (Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 1052.) HISTORICAL AND REVISION NOTES Revised Section Source (U.S. Code) Source (Statutes at Large) 9702 ......... 31:547a. R.S. § 3659. The section is substituted for 31:547a for clarity and consistency in the revised title. § 9703. Managerial accountability and flexibility (a) Beginning with fiscal year 1999, the per- formance plans required under section 1115 may include proposals to waive administrative proce- dural requirements and controls, including spec- ification of personnel staffing levels, limitations on compensation or remuneration, and prohibi- tions or restrictions on funding transfers among budget object classification 20 and subclassifica- tions 11, 12, 31, and 32 of each annual budget sub- mitted under section 1105, in return for specific individual or organization accountability to achieve a performance goal. In preparing and submitting the performance plan under section 1105(a)(29),1 the Director of the Office of Manage- ment and Budget shall review and may approve any proposed waivers. A waiver shall take effect at the beginning of the fiscal year for which the waiver is approved. (b) Any such proposal under subsection (a) shall describe the anticipated effects on per- formance resulting from greater managerial or organizational flexibility, discretion, and au- thority, and shall quantify the expected im- provements in performance resulting from any waiver. The expected improvements shall be compared to current actual performance, and to the projected level of performance that would be achieved independent of any waiver. (c) Any proposal waiving limitations on com- pensation or remuneration shall precisely ex- press the monetary change in compensation or remuneration amounts, such as bonuses or awards, that shall result from meeting, exceed- ing, or failing to meet performance goals. (d) Any proposed waiver of procedural require- ments or controls imposed by an agency (other than the proposing agency or the Office of Man- agement and Budget) may not be included in a performance plan unless it is endorsed by the agency that established the requirement, and the endorsement included in the proposing agen- cy’s performance plan. (e) A waiver shall be in effect for one or two years as specified by the Director of the Office of Management and Budget in approving the waiv- er. A waiver may be renewed for a subsequent year. After a waiver has been in effect for three consecutive years, the performance plan pre- pared under section 1115 may propose that a waiver, other than a waiver of limitations on compensation or remuneration, be made perma- nent. (f) For purposes of this section, the definitions under section 1115(f) 1 shall apply. (Added Pub. L. 103–62, § 5(a), Aug. 3, 1993, 107 Stat. 289.) Editorial Notes REFERENCES IN TEXT Section 1105(a)(29), referred to in subsec. (a), was re- designated section 1105(a)(28) of this title by Pub. L. 104–287, § 4(1), Oct. 11, 1996, 110 Stat. 3388. Section 1115, referred to in subsec. (f), was repealed, and a new section 1115 enacted, by Pub. L. 111–352, § 3, Jan. 4, 2011, 124 Stat. 3867. As reenacted, definitions in former section 1115(f) are now contained in section 1115(h) of this title. CODIFICATION Another section 9703 was renumbered section 9705 of this title. Statutory Notes and Related Subsidiaries CONSTRUCTION No provision or amendment made by Pub. L. 103–62 to be construed as creating any right, privilege, benefit, or entitlement for any person who is not an officer or employee of the United States acting in such capacity, and no person not an officer or employee of the United States acting in such capacity to have standing to file any civil action in any court of the United States to enforce any provision or amendment made by Pub. L. 103–62, or to be construed as superseding any statutory requirement, see section 10 of Pub. L. 103–62, set out as a Construction of 1993 Amendment note under section 1101 of this title.