There is established a revolving fund, under the control of the Secretary, which shall be available without fiscal year limitation for all expenses necessary for the redemption (by the Secretary) of real property as provided in section
2410 of title
28 of the United States Code. There are authorized to be appropriated from time to time such sums (not to exceed $10,000,000 in the aggregate) as may be necessary to carry out the purposes of this section.
(b) Reimbursement of fund
The fund shall be reimbursed from the proceeds of a subsequent sale of real property redeemed by the United States in an amount equal to the amount expended out of such fund for such redemption.
(c) System of accounts
The Secretary shall maintain an adequate system of accounts for such fund and prepare annual reports on the basis of such accounts.
1984—Subsec. (a). Pub. L. 98–369substituted “$10,000,000” for “$1,000,000”.
1976—Pub. L. 94–455struck out “or his delegate” after “Secretary” wherever appearing.
Section applicable after Nov. 2, 1966, regardless of when title or lien of United States arose or when lien or interest of another person was acquired, with certain exceptions, see section
114(a)–(c) of Pub. L. 89–719, set out as an Effective Date of 1966 Amendment note under section
6323 of this title.
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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