Source(June 29, 1936, ch. 858, title XII, § 1208, as added Sept. 7, 1950, ch. 906, 64 Stat. 775; amended Pub. L. 87–743, Oct. 3, 1962, 76 Stat. 740; Pub. L. 97–31, § 12(139), Aug. 6, 1981, 95 Stat. 166; Pub. L. 108–375, div. C, title XXXV, § 3502(b), Oct. 28, 2004, 118 Stat. 2195.)
2004—Subsec. (a). Pub. L. 108–375 substituted “The Secretary of Transportation may request the Secretary of the Treasury to invest such portion of the Fund as is not, in the judgment of the Secretary of Transportation, required to meet the current needs of the fund. Such investments shall be made by the Secretary of the Treasury in public debt securities of the United States, with maturities suitable to the needs of the fund, and bearing interest rates determined by the Secretary of the Treasury, taking into consideration current market yields on outstanding marketable obligations of the United States of comparable maturity.” for “Payments of return premiums, losses, settlements, judgments, and all liabilities incurred by the United States under this subchapter shall be made from such fund through the Division of Disbursement, Treasury Department.”
1981—Subsec. (a). Pub. L. 97–31 substituted “Secretary of Transportation” for “Secretary of Commerce”.
1962—Subsec. (a). Pub. L. 87–743 authorized the investment or reinvestment of all or part of the fund in securities of the United States or in securities guaranteed as to principal and interest by the United States, and required the interest and benefits accruing from such securities to be deposited to the credit of the fund.
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