(1)appoint and fix the compensation of such personnel as may be necessary to carry out the provisions of this chapter, except that in no case shall employees (other than the Executive Secretary) be compensated at a rate in excess of the rate of basic pay payable for GS–15 of the General Schedule;
(2)procure temporary and intermittent services of such experts and consultants as are necessary to the extent authorized by section
3109 of title
5, but at rates not in excess of the rate of basic pay payable for Executive Level V;
(3)prescribe such regulations as the Foundation may determine to be necessary governing the manner in which its functions shall be carried out;
(4)receive money and other property donated, bequeathed, or devised, without condition or restriction other than it be used for the purposes of the Foundation; and to use, sell, or otherwise dispose of such property for the purpose of carrying out its functions;
(5)accept and utilize the services of voluntary and uncompensated personnel and reimburse them for travel expenses, including per diem, as authorized by section
5703 of title
(6)enter into contracts, grants, or other arrangements, or modifications thereof, to carry out the provisions of this chapter, and such contracts or modifications thereof may, with the concurrence of two-thirds of the members of the Board, be entered into without performance or other bonds, and without regard to section
6101 of title
(7)make advances, progress, and other payments which the Board deems necessary under this chapter without regard to the provisions of section
3324(a) and (b) of title
(8)rent office space;
(9)conduct programs in addition to or in conjunction with the Fellowship program which shall further the Foundation’s purpose of encouraging new discoveries in all fields of endeavor for the benefit of mankind; and
(10)to make other necessary expenditures.
(b) Annual Report.— The Foundation shall submit to the President and to the Congress an annual report of its operations under this chapter.
The General Schedule, referred to in subsec. (a)(1), is set out under section
5332 of Title
5, Government Organization and Employees.
Executive Level V, referred to in subsec. (a)(2), probably means level V of the Executive Schedule, which is set out in section
5316 of Title
This chapter, referred to in subsec. (a)(6), was in the original “this chapter” and was translated as reading “this subtitle” meaning subtitle B (§§ 421–430) of title IV of Pub. L. 102–281which enacted this chapter, to reflect the probable intent of Congress.
In subsec. (a)(6), “section
6101 of title
41” substituted for “section 3709 of the Revised Statutes” on authority of Pub. L. 111–350, § 6(c),Jan. 4, 2011, 124 Stat. 3854, which Act enacted Title 41, Public Contracts.
In subsec. (a)(7), “section
3324(a) and (b) of title
31” substituted for reference to section
529 of title
31, United States Code, on authority of Pub. L. 97–258, § 4(b),Sept. 13, 1982, 96 Stat. 1067, the first section of which enacted Title 31, Money and Finance.
Termination of Reporting Requirements
For termination, effective May 15, 2000, of provisions in subsec. (b) of this section relating to submitting an annual report to Congress, see section 3003 ofPub. L. 104–66, as amended, set out as a note under section
1113 of Title
31, Money and Finance, and page 156 of House Document No. 103–7.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
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Description of Change
Statutes at Large
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