10 U.S.C. § 9456 — Acceptance of guarantees with gifts for

Page 3535 TITLE 10—ARMED FORCES § 9456 subsec. (f), calling in of advisers in subsec. (g), and re- imbursement for travel in subsec. (h). 1999—Subsec. (a)(3). Pub. L. 106–65 substituted ‘‘Com- mittee on Armed Services’’ for ‘‘Committee on Na- tional Security’’. 1996—Subsec. (a)(3). Pub. L. 104–106, § 1502(a)(12), sub- stituted ‘‘National Security’’ for ‘‘Armed Services’’. Subsec. (h). Pub. L. 104–106, § 1061(e)(2), struck out ‘‘is entitled to not more than $5 a day and’’ after ‘‘each ad- viser’’. 1980—Subsec. (b). Pub. L. 96–579 required member whose term of office had expired to continue service until appointment of a successor. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2018 AMENDMENT Amendment by section 806(a)(3) of Pub. L. 115–232 ef- fective Feb. 1, 2019, with provision for the coordination of amendments and special rule for certain redesigna- tions, see section 800 of Pub. L. 115–232, set out as a note preceding section 3001 of this title. § 9456. Acceptance of guarantees with gifts for major projects (a) ACCEPTANCE AUTHORITY.—Subject to sub- section (c), the Secretary of the Air Force may accept from a donor or donors a qualified guar- antee for the completion of a major project for the benefit of the Academy. (b) OBLIGATION AUTHORITY.—The amount of a qualified guarantee accepted under this section shall be considered as contract authority to pro- vide obligation authority for purposes of Federal fiscal and contractual requirements. Funds available for a project for which such a guar- antee has been accepted may be obligated and expended for the project without regard to whether the total amount of the funds and other resources available for the project (not taking into account the amount of the guarantee) is sufficient to pay for completion of the project. (c) NOTICE OF PROPOSED ACCEPTANCE.—The Secretary of the Air Force may not accept a qualified guarantee under this section for the completion of a major project until after the ex- piration of 30 days following the date upon which a report of the facts concerning the pro- posed guarantee is submitted to Congress or, if earlier, the expiration of 14 days following the date on which a copy of the report is provided in an electronic medium pursuant to section 480 of this title. (d) PROHIBITION ON COMMINGLING OF FUNDS.— The Secretary of the Air Force may not enter into any contract or other transaction involving the use of a qualified guarantee and appro- priated funds in the same contract or trans- action. (e) DEFINITIONS.—In this section: (1) MAJOR PROJECT.—The term ‘‘major project’’ means a project for the purchase or other procurement of real or personal prop- erty, or for the construction, renovation, or repair of real or personal property, the total cost of which is, or is estimated to be, at least $1,000,000. (2) QUALIFIED GUARANTEE.—The term ‘‘quali- fied guarantee’’, with respect to a major project, means a guarantee that— (A) is made by one or more persons in con- nection with a donation, specifically for the project, of a total amount in cash or securi- ties that, as determined by the Secretary of the Air Force, is sufficient to defray a sub- stantial portion of the total cost of the project; (B) is made to facilitate or expedite the completion of the project in reasonable an- ticipation that other donors will contribute sufficient funds or other resources in amounts sufficient to pay for completion of the project; (C) is set forth as a written agreement that provides for the donor to furnish in cash or securities, in addition to the donor’s other gift or gifts for the project, any additional amount that may become necessary for pay- ing the cost of completing the project by reason of a failure to obtain from other do- nors or sources funds or other resources in amounts sufficient to pay the cost of com- pleting the project; and (D) is accompanied by— (i) an irrevocable and unconditional standby letter of credit for the benefit of the Academy that is in the amount of the guarantee and is issued by a major United States commercial bank; or (ii) a qualified account control agree- ment. (3) QUALIFIED ACCOUNT CONTROL AGREE- MENT.—The term ‘‘qualified account control agreement’’, with respect to a guarantee of a donor, means an agreement among the donor, the Secretary of the Air Force, and a major United States investment management firm that— (A) ensures the availability of sufficient funds or other financial resources to pay the amount guaranteed during the period of the guarantee; (B) provides for the perfection of a secu- rity interest in the assets of the account for the United States for the benefit of the Academy with the highest priority available for liens and security interests under appli- cable law; (C) requires the donor to maintain in an account with the investment management firm assets having a total value that is not less than 130 percent of the amount guaran- teed; and (D) requires the investment management firm, at any time that the value of the ac- count is less than the value required to be maintained under subparagraph (C), to liq- uidate any noncash assets in the account and reinvest the proceeds in Treasury bills issued under section 3104 of title 31. (4) MAJOR UNITED STATES COMMERCIAL BANK.—The term ‘‘major United States com- mercial bank’’ means a commercial bank that— (A) is an insured bank (as defined in sec- tion 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813)); (B) is headquartered in the United States; and (C) has net assets in a total amount con- sidered by the Secretary of the Air Force to qualify the bank as a major bank. (5) MAJOR UNITED STATES INVESTMENT MAN- AGEMENT FIRM.—The term ‘‘major United Page 3536 TITLE 10—ARMED FORCES § 9457 States investment management firm’’ means any broker, dealer, investment adviser, or pro- vider of investment supervisory services (as defined in section 3 of the Securities Exchange Act of 1934 (15 U.S.C. 78c) or section 202 of the Investment Advisers Act of 1940 (15 U.S.C. 80b–2)) or a major United States commercial bank that— (A) is headquartered in the United States; and (B) holds for the account of others invest- ment assets in a total amount considered by the Secretary of the Air Force to qualify the firm as a major investment management firm. (Added Pub. L. 106–65, div. B, title XXVIII, § 2871(c)(1), Oct. 5, 1999, 113 Stat. 875, § 9356; amended Pub. L. 106–398, § 1 [[div. A], title X, § 1087(a)(17)], Oct. 30, 2000, 114 Stat. 1654, 1654A–291; Pub. L. 108–136, div. A, title X, § 1031(a)(59), Nov. 24, 2003, 117 Stat. 1603; renum- bered § 9456, Pub. L. 115–232, div. A, title VIII, § 806(a)(3), Aug. 13, 2018, 132 Stat. 1832.) Editorial Notes AMENDMENTS 2018—Pub. L. 115–232 renumbered section 9356 of this title as this section. 2003—Subsec. (c). Pub. L. 108–136 inserted before pe- riod at end ‘‘or, if earlier, the expiration of 14 days fol- lowing the date on which a copy of the report is pro- vided in an electronic medium pursuant to section 480 of this title’’. 2000—Subsec. (e)(5). Pub. L. 106–398 inserted a closing parenthesis after ‘‘80b–2)’’ in introductory provisions. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2018 AMENDMENT Amendment by Pub. L. 115–232 effective Feb. 1, 2019, with provision for the coordination of amendments and special rule for certain redesignations, see section 800 of Pub. L. 115–232, set out as a note preceding section 3001 of this title. § 9457. Grants for faculty research for scientific, literary, and educational purposes: accept- ance; authorized grantees (a) ACCEPTANCE OF RESEARCH GRANTS.—The Secretary of the Air Force may authorize the Superintendent of the Academy to accept quali- fying research grants under this section. Any such grant may only be accepted if the work under the grant is to be carried out by a pro- fessor or instructor of the Academy for a sci- entific, literary, or educational purpose. (b) QUALIFYING GRANTS.—A qualifying re- search grant under this section is a grant that is awarded on a competitive basis by an entity re- ferred to in subsection (c) for a research project with a scientific, literary, or educational pur- pose. (c) ENTITIES FROM WHICH GRANTS MAY BE AC- CEPTED.—A grant may be accepted under this section only from a corporation, fund, founda- tion, educational institution, or similar entity that is organized and operated primarily for sci- entific, literary, or educational purposes. (d) ADMINISTRATION OF GRANT FUNDS.—The Secretary shall establish an account for admin- istering funds received as research grants under this section. The Superintendent shall use the funds in the account in accordance with applica- ble regulations and the terms and conditions of the grants received. (e) RELATED EXPENSES.—Subject to such limi- tations as may be provided in appropriations Acts, appropriations available for the Academy may be used to pay expenses incurred by the Academy in applying for, and otherwise pur- suing, award of a qualifying research grant. (f) REGULATIONS.—The Secretary of the Air Force shall prescribe regulations for the admin- istration of this section. (Added Pub. L. 105–261, div. A, title X, § 1063(c)(1), Oct. 17, 1998, 112 Stat. 2131, § 9357; renumbered § 9457, Pub. L. 115–232, div. A, title VIII, § 806(a)(3), Aug. 13, 2018, 132 Stat. 1832.) Editorial Notes AMENDMENTS 2018—Pub. L. 115–232 renumbered section 9357 of this title as this section. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2018 AMENDMENT Amendment by Pub. L. 115–232 effective Feb. 1, 2019, with provision for the coordination of amendments and special rule for certain redesignations, see section 800 of Pub. L. 115–232, set out as a note preceding section 3001 of this title. § 9459. Mixed-funded athletic and recreational extracurricular programs: authority to man- age appropriated funds in same manner as nonappropriated funds (a) AUTHORITY.—In the case of an Academy mixed-funded athletic or recreational extra- curricular program, the Secretary of the Air Force may designate funds appropriated to the Department of the Air Force and available for that program to be treated as nonappropriated funds and expended for that program in accord- ance with laws applicable to the expenditure of nonappropriated funds. Appropriated funds so designated shall be considered to be non- appropriated funds for all purposes and shall re- main available until expended. (b) COVERED PROGRAMS.—In this section, the term ‘‘Academy mixed-funded athletic or rec- reational extracurricular program’’ means an athletic or recreational extracurricular program of the Academy to which each of the following applies: (1) The program is not considered a morale, welfare, or recreation program. (2) The program is supported through appro- priated funds. (3) The program is supported by a non- appropriated fund instrumentality. (4) The program is not a private organization and is not operated by a private organization. (Added Pub. L. 108–375, div. A, title V, § 544(c)(1), Oct. 28, 2004, 118 Stat. 1907, § 9359; renumbered § 9459, Pub. L. 115–232, div. A, title VIII, § 806(a)(3), Aug. 13, 2018, 132 Stat. 1832.) Editorial Notes AMENDMENTS 2018—Pub. L. 115–232 renumbered section 9359 of this title as this section.