H.R. 6122 (112th): To revise the authority of the Librarian of Congress to accept gifts and bequests on behalf of ...

...the Library, and for other purposes.

112th Congress, 2011–2013. Text as of Jul 12, 2012 (Introduced).

Status & Summary | PDF | Source: GPO

I

112th CONGRESS

2d Session

H. R. 6122

IN THE HOUSE OF REPRESENTATIVES

July 12, 2012

introduced the following bill; which was referred to the Committee on House Administration

A BILL

To revise the authority of the Librarian of Congress to accept gifts and bequests on behalf of the Library, and for other purposes.

1.

Authority of librarian of congress to accept gifts and bequests

(a)

Expanding types of gifts that may be accepted

The first undesignated paragraph of section 4 of the Act entitled An Act to create a Library of Congress Trust Fund Board, and for other purposes, approved March 3, 1925 (2 U.S.C. 160), is amended—

(1)

in the first sentence, by striking in the name of the United States and all that follows and inserting the following: in the name of the United States and in the interest of the Library, its collections, or its service, gifts or bequests of money for immediate disbursement, personal property valued at $25,000 or less, nonpersonal services, or voluntary and uncompensated personal services.;

(2)

in the second sentence, by inserting of money after bequests; and

(3)

in the third sentence, by striking enter them and inserting enter the gift, bequest, or proceeds.

(b)

Treatment of gifts of securities

The first undesignated paragraph of section 4 of such Act (2 U.S.C. 160) is amended by inserting after the first sentence the following new sentence: In the case of a gift of securities, the Librarian shall sell the gift and provide the donor with a receipt from the proceeds of the sale..

(c)

Public report on accepted gifts

Section 4 of such Act (2 U.S.C. 160) is amended—

(1)

in the first sentence of the first undesignated paragraph, by striking Nothing and inserting (a) Acceptance and Disbursement of Gifts.—Nothing; and

(2)

by adding at the end the following new subsection:

(b)

Public Report on Accepted Gifts

In each Annual Report of the Library of Congress, the Librarian of Congress shall include a description of each gift or bequest accepted under this section during the year involved which is valued at $1,000 or more.

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