42 USC 7262: Gifts, bequests, and devises

42 USC 7262: Gifts, bequests, and devises Text contains those laws in effect on January 4, 1995

From Title 42-THE PUBLIC HEALTH AND WELFARECHAPTER 83-ENERGY EXTENSION SERVICESUBCHAPTER VI-ADMINISTRATIVE PROVISIONSPart C-General Administrative Provisions

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§7262. Gifts, bequests, and devises

The Secretary is authorized to accept, hold, administer, and utilize gifts, bequests, and devises of property, both real and personal, for the purpose of aiding or facilitating the work of the Department. Gifts, bequests, and devises of money and proceeds from sales of other property received as gifts, bequests, or devises shall be deposited in the Treasury and shall be disbursed upon the order of the Secretary. Property accepted pursuant to this section, and the proceeds thereof, shall be used as nearly as possible in accordance with the terms of the gift, bequest, or devise. For the purposes of Federal income, estate, and gift taxes, property accepted under this section shall be considered as a gift, bequest, or devise to the United States.

( Pub. L. 95–91, title VI, §652, Aug. 4, 1977, 91 Stat. 601 .)

Section Referred to in Other Sections

This section is referred to in section 7142 of this title.