(1)Subject to the provisions of this section, the Director may accept, hold, administer, and use gifts of money, securities, or other property whenever the Director determines it would be in the interest of the United States to do so.
(2)Any gift accepted under this section (and any income produced by any such gift)—
(ii)purposes relating to the general welfare, education, or recreation of employees or dependents of employees of the Agency or for similar purposes; or
(iii)purposes relating to the welfare, education, or recreation of an individual described in paragraph (3); and
(B)under no circumstances may such a gift (or any income produced by any such gift) be used for operational purposes.
(3)An individual described in this paragraph is an individual who—
(A)is an employee or a former employee of the Agency who suffered injury or illness while employed by the Agency that—
(i)resulted from hostile or terrorist activities;
(ii)occurred in connection with an intelligence activity having a significant element of risk; or
(iii)occurred under other circumstances determined by the Director to be analogous to the circumstances described in clause (i) or (ii);
(B)is a family member of such an employee or former employee; or
(C)is a surviving family member of an employee of the Agency who died in circumstances described in clause (i), (ii), or (iii) of subparagraph (A).
(4)The Director may not accept any gift under this section that is expressly conditioned upon any expenditure not to be met from the gift itself or from income produced by the gift unless such expenditure has been authorized by law.
(5)The Director may, in the Director’s discretion, determine that an individual described in subparagraph (A) or (B) of paragraph (3) may accept a gift for the purposes described in paragraph (2)(A)(iii).
(b) Sale, exchange and investment of gifts
Unless otherwise restricted by the terms of the gift, the Director may sell or exchange, or invest or reinvest, any property which is accepted under this section, but any such investment may only be in interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States.
(c) Deposit of gifts into special fund
There is hereby created on the books of the Treasury of the United States a fund into which gifts of money, securities, and other intangible property accepted under the authority of this section, and the earnings and proceeds thereof, shall be deposited. The assets of such fund shall be disbursed upon the order of the Director for the purposes specified in subsection (a) or (b) of this section.
(d) Taxation of gifts
For purposes of Federal income, estate, and gift taxes, gifts accepted by the Director under this section shall be considered to be to or for the use of the United States.
(e) “Gift” defined
For the purposes of this section, the term “gift” includes a bequest or devise.
The Director, in consultation with the Director of the Office of Government Ethics, shall issue regulations to carry out the authority provided in this section. Such regulations shall ensure that such authority is exercised consistent with all relevant ethical constraints and principles, including—
(1)the avoidance of any prohibited conflict of interest or appearance of impropriety; and
(2)a prohibition against the acceptance of a gift from a foreign government or an agent of a foreign government.
 So in original. The quotation marks probably should not appear.
Section was formerly classified to section
403l of this title prior to editorial reclassification and renumbering as this section.
2012—Subsec. (a). Pub. L. 112–87, § 411(1), designated existing provisions as par. (1), struck out “Any gift accepted under this section (and any income produced by any such gift) may be used only for artistic display or for purposes relating to the general welfare, education, or recreation of employees or dependents of employees of the Agency or for similar purposes, and under no circumstances may such a gift (or any income produced by any such gift) be used for operational purposes. The Director may not accept any gift under this section which is expressly conditioned upon any expenditure not to be met from the gift itself or from income produced by the gift unless such expenditure has been authorized by law.” at end, and added pars. (2) to (5).
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
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.
Description of Change
Statutes at Large
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