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► 20 U.S.C. § 74a 20 u.s.c. · smithsonian institution, national museum · title 20
20 U.S.C. § 74a
Permanent loan of funds by Board of Trustees to Treasury; semiannual interest payments to Board
Title 20 USC
● ACTIVE
Ch. 3
Jurisdiction Federal — United States
Chapter SMITHSONIAN INSTITUTION, NATIONAL MUSEUMS AND ART GALLERIES
Primary Source uscode.house.gov ↗
Federation ID OM-USC20-SEC-74B425
► STATUTORY TEXT primary source · verbatim · uscode.house.gov

U.S.C. Title 20 - EDUCATION 20 U.S.C. United States Code, 2023 Edition Title 20 - EDUCATION CHAPTER 3 - SMITHSONIAN INSTITUTION, NATIONAL MUSEUMS AND ART GALLERIES SUBCHAPTER II - NATIONAL GALLERY OF ART Sec. 74a - Permanent loan of funds by Board of Trustees to Treasury; semiannual interest payments to Board From the U.S. Government Publishing Office, www.gpo.gov

§74a. Permanent loan of funds by Board of Trustees to Treasury; semiannual interest payments to Board

The Secretary of the Treasury is authorized and directed to receive into the Treasury from time to time as a permanent loan by the Board of Trustees of the National Gallery of Art to the United States sums in cash of not to exceed $5,000,000 in the aggregate, and to pay interest on the principal amount of such loan at a rate which is the higher of the rate of 4 per centum per annum or a rate which is .25 percentage points less than a rate determined by the Secretary of the Treasury, taking into consideration the current average market yield on outstanding long-term marketable obligations of the United States, adjusted to the nearest one-eighth of 1 per centum, payable semiannually. Such interest is permanently appropriated for payment to the Board of Trustees of the National Gallery of Art.

(Apr. 10, 1943, ch. 46, 57 Stat. 62; Pub. L. 94–418, Sept. 21, 1976, 90 Stat. 1278.)

Editorial Notes

Codification Section was not enacted as part of act Mar. 24, 1937, ch. 50, 50 Stat. 51, which comprises this subchapter.

Amendments 1976—Pub. L. 94–418 inserted provision authorizing alternate interest rate to existing interest rate of 4 per centum per annum.

Source: uscode.house.gov — public domain Official Source ↗
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The statutory text of 20 U.S.C. § 74a is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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Chapter 3 — SMITHSONIAN INSTITUTION, NATIONAL MUSEUMS AND ART GALLERIES
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3 — SMITHSONIAN INSTITUTION, NATIONAL MUSEUMS AND ART GALLERIES
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Education
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Education — 20 U.S.C. § 74a