50a U.S. Code Rule - War Claims Fund

(a) Composition; expenditure
There is hereby created on the books of the Treasury of the United States a trust fund to be known as the War Claims Fund. The War Claims Fund shall consist of all sums covered into the Treasury pursuant to the provisions of section 39 of the Trading With the Enemy Act of October 6, 1917, as amended [section 39 of this Appendix]. The moneys in such fund shall be available for expenditure only as provided in this Act [sections 2001 to 2017p of this Appendix] or as may be provided hereafter by the Congress.
(b) Estimation and certification to Treasury of total amount necessary under section 2004(f)
Before August 1, 1956, the Secretary of Labor shall estimate and report to the President the total amount which will be required to pay all benefits payable by reason of section 5 (f) of this title [section 2004 (f) of this Appendix]. If the President approves the amount so estimated as reasonably accurate, the total amount so estimated and approved shall be certified to the Secretary of the Treasury; if the President does not so approve he shall determine such amount, and the amount so determined shall be certified to the Secretary of the Treasury. Such certification shall be made on or before September 1, 1956. The Secretary of the Treasury shall then transfer from the War Claims Fund to the general fund of the Treasury a sum equal to the total amount certified to him under this subsection.
(c) Estimation and certification to Treasury of total amount necessary under section 2003(c)
Before August 1, 1956, the Secretary of Labor shall estimate and report to the President the total amount which will be required to pay all additional benefits payable as a result of the enactment of section 4 (c) of this title [section 2003 (c) of this Appendix]. If the President approves the amount so estimated as reasonably accurate, the total amount so estimated and approved shall be certified to the Secretary of the Treasury; if the President does not so approve, he shall determine such amount, and the amount so determined shall be certified to the Secretary of the Treasury. Such certification shall be made on or before September 1, 1956. The Secretary of the Treasury shall then transfer from the War Claims Fund to the general fund of the Treasury a sum equal to the total amount certified to him under this subsection.
(d) Certification to Treasury of total canceled obligations under section 2003(b)(1)
On or before August 1, 1956, the Secretary of State is authorized and directed to certify to the Secretary of the Treasury the total amount of all obligations canceled pursuant to the provisions of section 4 (b)(1) of this title [section 2003 (b)(1) of this Appendix]. The Secretary of the Treasury shall transfer from the war claims fund to the general fund of the Treasury an amount equal to the total amount so certified.
(e) Authorization of appropriations for Commission’s work
There are hereby authorized to be appropriated, out of any money in the war claims fund, such sums as may be necessary to enable the Commission to carry out its functions under this title [sections 2001 to 2016 of this Appendix].

Source

(July 3, 1948, ch. 826, title I, § 13,62 Stat. 1247; 1950 Reorg. Plan No. 19, § 1, eff. May 24, 1950, 15 F.R. 3178, 64 Stat. 1271; Aug. 31, 1954, ch. 1162, title I, § 104,68 Stat. 1036; Pub. L. 87–846, title I, § 102,Oct. 22, 1962, 76 Stat. 1107.)
References in Text

Section 4 (c) of this title, referred to in subsec. (c), which amended section 1702 of Title 42, The Public Health and Welfare, was classified to section 2003 (c) of this Appendix, and was omitted from the Code.
Amendments

1962—Subsecs. (b) to (e). Pub. L. 87–846substituted “title” for “Act”.
1954—Subsec. (b). Act Aug. 31, 1954, § 104(a), provided that President may approve or disapprove of Secretary of Labor’s estimate, and if he disapproves he shall estimate total amount of claims under section 2004 (f) of this Appendix, and provided that all transfers which are to be made from the War Claims Fund to the Treasury general fund shall be made before Aug. 1, 1956.
Subsec. (c). Act Aug. 31, 1954, § 104(a), provided that President may approve or disapprove Secretary of Labor’s estimate, and if he disapproves he shall estimate total amount of claims under section 2003 (c) of this Appendix, and provided that all transfers which are to be made from War Claims Fund to Treasury general fund shall be made before Aug. 1, 1956.
Subsec. (d). Act Aug. 31, 1954, § 104(b), inserted “on or before August 1, 1956” before “Secretary of State”.
Transfer of Functions

“Secretary of Labor” substituted for “Federal Security Administrator” in subsecs. (b) and (c) pursuant to Reorg. Plan No. 19 of 1950, § 1, eff. May 24, 1950, 15 F.R. 3178, 64 Stat. 1271, set out in the Appendix to Title 5, Government Organization and Employees, which transferred functions of Federal Security Administrator and Federal Security Agency under this section to Secretary of Labor with power to delegate.
For provisions transferring Foreign Claims Settlement Commission of the United States to Department of Justice, as a separate agency, see section 1622a et seq. of Title 22, Foreign Relations and Intercourse.
War Claims Commission, including offices of its members, abolished and functions transferred to Foreign Claims Settlement Commission of the United States by Reorg. Plan No. 1 of 1954, §§ 2, 4, eff. July 1, 1954, 19 F.R. 3985, 68 Stat. 1279, set out in the Appendix to Title 5, Government Organization and Employees. See, also, section 2001 of this Appendix and notes thereunder.

 

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