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H.R. 1454 (100th): A bill to amend Public Law 99-572 to authorize the Secretary of the Treasury to invest private funds contributed to the American Battle Monuments Commission for the construction of the Korean War Veterans Memorial in public debt securities.

The text of the bill below is as of Jan 5, 1988 (Passed Congress).


PUBLIC LAW 100-230—JAN. 5, 1988                                  101 STAT. 1563

Public Law 100-230
100th Congress
                                    An Act
To permit certain private contributions for construction of the Korean War Veterans   jan. 5 1988
  Memorial to be invested temporarily in Government securities until such contrib-     FH R 14541
  uted amounts are required for disbursement for the memorial.

 Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. TEMPORARY INVESTMENT IN GOVERNMENT SECURITIES OF
            AMOUNTS CONTRIBUTED FOR THE KOREAN WAR VETERANS
            MEMORIAL.
   (a) IN GENERAL.—Section 3(a) of the Act entitled "An Act to
authorize the erection of a memorial on Federal land in the District
of Columbia and its environs to honor members of the Armed Forces
of the United States who served in the Korean war", approved
October 28, 1986 (40 U.S.C. 1003 note), is amended by adding at the
end the following new paragraphs:
   "(2) There is established in the Treasury a fund which shall be
available to the American Battle Monuments Commission for ex-
penses of establishing the memorial. The fund shall consist of (A)
amounts deposited, and interest and proceeds credited, under para-
graph (3), and (B) obligations obtained under paragraph (4).
   "(3) The Chairman of the Commission shall deposit in the fund
such amounts from private contributions as may be accepted under
paragraph (1). The Secretary of the Treasury shall credit to the fund
the interest on, and the proceeds from sale or redemption of, obliga-
tions held in the fund.
   "(4) The Secretary of the Treasury shall invest any portion of the
fund that, as determined by the Chairman of the Commission, is not
required to meet current expenses. Each investment shall be made
in an interest bearing obligation of the United States or an obliga-
tion guaranteed as to principal and interest by the United States
that, as determined by the Chairman of the Commission, has a
maturity suitable for the fund.
   "(5) If, upon payment of all expenses of establishment of the
memorial as provided by law, there remains a balance in the fund,
the Chairman of the Commission shall deposit the amount of the
balance in the general fund of the Treasury as a miscellaneous
receipt.".
   (b) TECHNICAL AMENDMENTS.—Section 3 of such Act is amended—
        (1) by striking out "SEC. 3. (a)" and inserting in lieu thereof
      "SEC. 3. (a)(1)";
        (2) in subsection (a)(1), as so redesignated by paragraph (1) of
      this subsection, by striking out the last sentence; and
        (3) by striking out subsection (c).
SEC. 2. CORRECTION OF SUPERSEDED CROSS REFERENCE.
   The second sentence of section 1 of the Act entitled "An Act to
authorize the erection of a memorial on Federal land in the District
of Columbia and its environs to honor members of the Armed Forces

101 STAT. 1564 PUBLIC LAW 100-230—JAN. 5, 1988 of the United States who served in the Korean war", approved October 28, 1986 (40 U.S.C. 1003 note), is amended by striking out "the provisions o f and all that follows through the end of the sentence and inserting in lieu thereof "the Act entitled 'An Act to provide standards for placement of commemorative works on cer- ,^; tain Federal lands in the District of Columbia and its environs, and for other purposes', approved November 14, 1986 (40 U.S.C. 1001 et seq.).". SEC. 3. CLARIFICATION OF RELATED PROVISION. The first sentence of section 3(a) of the Act entitled "An Act to provide standards for placement of commemorative works on cer- tain Federal lands in the District of Columbia and its environs, and for other purposes", approved November 14, 1986 (40 U.S.C. 1003(a)) is amended by striking out "Act of Congress" and inserting in lieu thereof "law". Approved January 5, 1988. LEGISLATIVE HISTORY—H.R. 1454: HOUSE REPORTS: No. 100-405 (Comm. on House Administration). CONGRESSIONAL RECORD, Vol. 133 (1987): Oct. 27, considered and passed House. Dec. 21, considered and passed Senate.