15 U.S.C. § 1523 — Tax status of gifts and bequests of prop-

Page 1442 TITLE 15—COMMERCE AND TRADE § 1522 $20,000,000, to remain available until September 30, 2022, to the Fund for necessary expenses for a business application system modernization. (Pub. L. 116–93, div. B, title I, § 111, Dec. 20, 2019, 133 Stat. 2395.) Editorial Notes REFERENCES IN TEXT This Act, referred to in text, is div. B of Pub. L. 116–93, Dec. 20, 2019, 133 Stat. 2385, known as the Com- merce, Justice, Science, and Related Agencies Appro- priations Act, 2020. For complete classification of this Act to the Code, see Tables. § 1522. Acceptance of gifts and bequests for pur- poses of the Department; separate fund; dis- bursements The Secretary of Commerce is hereby author- ized to accept, hold, administer, and utilize gifts and bequests of property, both real and personal, for the purpose of aiding or facilitating the work of the Department of Commerce. Gifts and be- quests of money and the proceeds from sales of other property received as gifts or bequests shall be deposited in the Treasury in a separate fund and shall be disbursed upon order of the Sec- retary of Commerce. Property accepted pursu- ant to this provision, and the proceeds thereof, shall be used as nearly as possible in accordance with the terms of the gift or bequest. (Pub. L. 88–611, § 1, Oct. 2, 1964, 78 Stat. 991.) Editorial Notes CODIFICATION Section was formerly classified to section 608a of Title 5 prior to the general revision and enactment of Title 5, Government Organization and Employees, by Pub. L. 89–554, § 1, Sept. 6, 1966, 80 Stat. 378. Statutory Notes and Related Subsidiaries TRANSFER OF FUNDS Pub. L. 88–611, § 4(b), Oct. 2, 1964, 78 Stat. 991, provided that: ‘‘All gifts and bequests received under the provi- sions of law repealed by subsection (a) of this section [which repealed section 278a of this title, section 883g of Title 33, Navigation and Navigable Waters, and section 1126(g) of former Title 46, Shipping] and all funds held on the date of enactment of this Act [Oct. 2, 1964] in the United States Merchant Marine Academy general gift fund, established by subsection (g) of section 216 of the Merchant Marine Act, 1936 [section 1126(g) of former Title 46], shall be transferred to the fund authorized by this Act [sections 1522 to 1524 of this title] and shall be administered in accordance with the provisions of this Act [sections 1522 to 1524 of this title].’’ § 1523. Tax status of gifts and bequests of prop- erty For the purpose of Federal income, estate, and gift taxes, property accepted under section 1522 of this title shall be considered as a gift or be- quest to or for the use of the United States. (Pub. L. 88–611, § 2, Oct. 2, 1964, 78 Stat. 991.) Editorial Notes CODIFICATION Section was formerly classified to section 608b of Title 5 prior to the general revision and enactment of Title 5, Government Organization and Employees, by Pub. L. 89–554, § 1, Sept. 6, 1966, 80 Stat. 378. § 1524. Investment and reinvestments of moneys; credit and disbursement of interest Upon the request of the Secretary of Com- merce, the Secretary of the Treasury may invest and reinvest in securities of the United States or in securities guaranteed as to principal and interest by the United States any moneys con- tained in the fund authorized herein. Income ac- cruing from such securities, and from any other property accepted pursuant to section 1522 of this title, shall be deposited to the credit of the fund authorized herein, and shall be disbursed upon order of the Secretary of Commerce. (Pub. L. 88–611, § 3, Oct. 2, 1964, 78 Stat. 991.) Editorial Notes CODIFICATION Section was formerly classified to section 608c of Title 5 prior to the general revision and enactment of Title 5, Government Organization and Employees, by Pub. L. 89–554, § 1, Sept. 6, 1966, 80 Stat. 378. § 1525. Special studies; special compilations, lists, bulletins, or reports; clearinghouse for tech- nical information; transcripts or copies; cost payments for special work; joint projects: cost apportionment, waiver The Secretary of Commerce is authorized, upon the request of any person, firm, organiza- tion, or others, public or private, to make spe- cial studies on matters within the authority of the Department of Commerce; to prepare from its records special compilations, lists, bulletins, or reports; to perform the functions authorized by section 1152 of this title; and to furnish tran- scripts or copies of its studies, compilations, and other records; upon the payment of the actual or estimated cost of such special work. In the case of nonprofit organizations, re- search organizations, or public organizations or agencies, the Secretary may engage in joint projects, or perform services, on matters of mu- tual interest, the cost of which shall be appor- tioned equitably, as determined by the Sec- retary, who may, however, waive payment of any portion of such costs by others, when au- thorized to do so under regulations approved by the Office of Management and Budget. (Pub. L. 91–412, § 1, Sept. 25, 1970, 84 Stat. 864; 1970 Reorg. Plan No. 2, § 102, eff. July 1, 1970, 35 F.R. 7959, 84 Stat. 2085.) Executive Documents TRANSFER OF FUNCTIONS Functions vested by law (including reorganization plan) in Bureau of the Budget or Director of Bureau of the Budget transferred to President by section 101 of Reorg. Plan No. 2 of 1970, eff. July 1, 1970, 35 F.R. 7959, 84 Stat. 2085, set out in the Appendix to Title 5, Govern- ment Organization and Employees. Section 102 of Reorg. Plan No. 2 of 1970 redesignated Bureau of the Budget as Office of Management and Budget.