20 U.S.C. § 5606 — Establishment of Morris K. Udall and

Page 1285 TITLE 20—EDUCATION § 5607 1 So in original. No par. (2) has been enacted. Subsec. (a)(1)(D). Pub. L. 116–94, § 305(1)(A)(ii), redesig- nated subpar. (D) as (B). Subsec. (a)(5), (6). Pub. L. 116–94, § 305(1)(B), (D), added pars. (5) and (6) and struck out former par. (5) which re- lated to awarding of grants for various purposes. Former par. (6) redesignated (7). Subsec. (a)(7). Pub. L. 116–94, § 305(1)(C), (E), redesig- nated par. (6) as (7) and substituted ‘‘the papers of Mor- ris K. Udall and Stewart L. Udall’’ for ‘‘Morris K. Udall’s papers’’. Former par. (7) redesignated (8). Subsec. (a)(8). Pub. L. 116–94, § 305(1)(C), redesignated par. (7) as (8). Subsec. (a)(9). Pub. L. 116–94, § 305(1)(F), added par. (9). Subsec. (c). Pub. L. 116–94, § 305(2), added subsec. (c) and struck out former subsec. (c). Prior to amendment, text read as follows: ‘‘The Foundation shall determine the priority of the programs to be carried out under this chapter and the amount of funds to be allocated for such programs. However, not less than 50 percent shall be utilized for the programs set forth in section 5604(a)(2) of this title, section 5604(a)(3) of this title, and section 5604(a)(4) of this title, not more than 15 percent shall be used for salaries and other administrative pur- poses, and not less than 20 percent shall be appro- priated to the Center for section 5604(a)(5) of this title, section 5604(a)(6) of this title, and section 5604(a)(7) of this title conditioned on a 25-percent match from other sources and further conditioned on adequate space at the Center being made available for the Executive Di- rector and other appropriate staff of the Foundation by the Center.’’ Subsec. (d). Pub. L. 116–94, § 305(3), added subsec. (d). 2009—Subsec. (a)(5)(E). Pub. L. 111–90, § 6(1), added subpar. (E). Subsec. (b). Pub. L. 111–90, § 6(2), added subsec. (b) and struck out former subsec. (b). Prior to amendment, text read as follows: ‘‘Recipients of scholarships, fellow- ships, internships, and grants under this chapter shall be known as ‘Morris K. Udall Scholars’.’’ 1998—Subsec. (a)(1)(D). Pub. L. 105–156, § 5(1), added subpar. (D). Subsec. (a)(6). Pub. L. 105–156, § 9(b), substituted ‘‘Trust Fund’’ for ‘‘Fund’’. Subsec. (a)(7). Pub. L. 105–156, § 5(2), inserted ‘‘and Training’’ after ‘‘Conflict Resolution’’. Statutory Notes and Related Subsidiaries REFERENCES TO UNITED STATES INSTITUTE FOR ENVIRONMENTAL CONFLICT RESOLUTION Pub. L. 116–94, div. P, title III, § 302(c), Dec. 20, 2019, 133 Stat. 3187, provided that: ‘‘Any reference to the United States Institute for Environmental Conflict Resolution in any Federal law, Executive Order, rule, delegation of authority, or document shall be construed to refer to the John S. McCain III National Center for Environmental Conflict Resolution established under section 7(a)(1)(B) of the Morris K. Udall and Stewart L. Udall Foundation Act (20 U.S.C. 5605(a)(1)(B)).’’ § 5606. Establishment of Morris K. Udall and Stewart L. Udall Trust Fund (a) Establishment of Trust Fund There is established in the Treasury of the United States a trust fund to be known as the ‘‘Morris K. Udall and Stewart L. Udall Trust Fund’’ to be administered by a Foundation. The Trust Fund shall consist of amounts appro- priated to it pursuant to section 5609(a) of this title and amounts credited to it under sub- section (b). (b) Investment of Trust Fund assets (1) 1 IN GENERAL.—It shall be the duty of the Secretary of the Treasury to invest, at the di- rection of the Foundation Board, in full the amounts appropriated to the Trust Fund. Such investments shall be in public debt securities with maturities suitable to the needs of the Trust Fund. Investments in public debt securi- ties shall bear interest ‘‘at rates determined by the Secretary of the Treasury taking into con- sideration the current average market yield on outstanding marketable obligations of the United States’’ of comparable maturity. Begin- ning on October 1, 2023, and thereafter, interest earned from investments made with any new ap- propriations to the Trust Fund shall only be available subject to appropriations and is au- thorized to be appropriated to carry out the pro- visions of this chapter. (Pub. L. 102–259, § 8, Mar. 19, 1992, 106 Stat. 82; Pub. L. 105–156, § 9, Feb. 11, 1998, 112 Stat. 12; Pub. L. 111–90, § 7, Nov. 3, 2009, 123 Stat. 2978; Pub. L. 118–47, div. G, title II, § 202, Mar. 23, 2024, 138 Stat. 858.) Editorial Notes AMENDMENTS 2024—Subsec. (b)(1). Pub. L. 118–47 inserted at end ‘‘Beginning on October 1, 2023, and thereafter, interest earned from investments made with any new appropria- tions to the Trust Fund shall only be available subject to appropriations and is authorized to be appropriated to carry out the provisions of this chapter.’’ 2009—Pub. L. 111–90 substituted ‘‘and Stewart L. Udall’’ for ‘‘Scholarship and Excellence in National En- vironmental Policy’’ in section catchline and in subsec. (a). 1998—Subsec. (a). Pub. L. 105–156, § 9(a), substituted ‘‘The Trust Fund’’ for ‘‘The fund’’ and ‘‘5609(a)’’ for ‘‘5609’’. Subsec. (b)(1). Pub. L. 105–156, § 9(b), substituted ‘‘Trust Fund’’ for ‘‘Fund’’ in two places. § 5607. Expenditures and audit of Trust Fund (a) In general The Foundation shall pay from the interest and earnings of the Trust Fund such sums as the Board determines are necessary and appropriate to enable the Foundation to carry out the provi- sions of this chapter, including a reasonable amount for official reception and representation expenses, as determined by the Board, not to ex- ceed $5,000 for a fiscal year. (b) Audit by Government Accountability Office The activities of the Foundation and the Cen- ter under this chapter may be audited by the Government Accountability Office under such rules and regulations as may be prescribed by the Comptroller General of the United States. Representatives of the Government Account- ability Office shall have access to all books, ac- counts, records, reports filed and all other pa- pers, things, or property belonging to or in use by the Foundation and the Center, pertaining to such federally assisted activities and necessary to facilitate the audit. (Pub. L. 102–259, § 9, Mar. 19, 1992, 106 Stat. 83; Pub. L. 105–156, § 9(b), Feb. 11, 1998, 112 Stat. 12; Pub. L. 108–271, § 8(b), July 7, 2004, 118 Stat. 814; Pub. L. 111–90, § 8, Nov. 3, 2009, 123 Stat. 2978.)