26 U.S. Code § 7810 - Revolving fund for redemption of real property
prev | next
(a) Establishment of fund
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 7425 (d) andsection 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.
Source(Added Pub. L. 89–719, title I, § 112(a),Nov. 2, 1966, 80 Stat. 1145; amended Pub. L. 94–455, title XIX, § 1906(b)(13)(A),Oct. 4, 1976, 90 Stat. 1834; Pub. L. 98–369, div. A, title IV, § 443,July 18, 1984, 98 Stat. 816.)
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.
LII has no control over and does not endorse any external Internet site that contains links to or references LII.