Us Code § 51315 - Gifts to the Merchant Marine Academy

Full text of Us Code United States Code § 51315 — Gifts to the Merchant Marine Academy, with citation guidance and answers to common questions.

§ 51315. Gifts to the Merchant Marine Academy

(a) In General.—The Maritime Administrator may accept and use conditional or unconditional gifts of money or property for the benefit of the United States Merchant Marine Academy, including acceptance and use for non-appropriated fund instrumentalities of the Merchant Marine Academy. The Maritime Administrator may accept a gift of services in carrying out the Administrator's duties and powers. Property accepted under this section and proceeds from that property must be used, as nearly as possible, in accordance with the terms of the gift.

(b) Establishment of Academy Gift Fund.—There is established in the Treasury a fund, to be known as the "Academy Gift Fund". Disbursements from the Fund shall be made on order of the Maritime Administrator. Unless otherwise specified by the terms of the gift, the Maritime Administrator may use monies in the Fund for appropriated or non-appropriated purposes at the Academy. The Fund consists of—

(1) gifts of money;

(2) income from donated property accepted under this section;

(3) proceeds from the sale of donated property; and

(4) income from securities under subsection (c) of this section.


(c) Investment of Fund Balances.—On request of the Maritime Administrator, the Secretary of the Treasury may invest and reinvest amounts in the Fund in securities of, or in securities the principal and interest of which is guaranteed by, the United States Government.

(d) Disbursement Authority.—There are hereby authorized to be disbursed from the Fund such sums as may be on deposit, to remain available until expended.

(e) Deductibility of Gifts.—Gifts accepted under this section are a gift to or for the use of the Government under the Internal Revenue Code of 1986.

(f) Payment of Expenses.—The Maritime Administrator may pay all necessary expenses in connection with the conveyance or transfer of a gift, devise, or bequest accepted under this section.

(Added Pub. L. 110–417, div. C, title XXXV, §3506(g)(1), Oct. 14, 2008, 122 Stat. 4764; amended Pub. L. 115–91, div. C, title XXXV, §3511, Dec. 12, 2017, 131 Stat. 1918.)


Editorial Notes

References in Text

The Internal Revenue Code of 1986, referred to in subsec. (e), is classified generally to Title 26, Internal Revenue Code.

Amendments

2017—Subsec. (f). Pub. L. 115–91 added subsec. (f).

About This Section

46 U.S.C. § 51315 is part of Title 46 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.

This section may be cited in legal writing as 46 U.S.C. § 51315. For the most current official text, including any recent amendments, use the official source links below. Do not rely on this page as the sole authority for legal citation or litigation.

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Sources

Source: official Us Code text · Last verified 2026-08-27

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Frequently Asked Questions About Us Code § 51315

What does United States Code § 51315 cover?

Section 51315 ("Gifts to the Merchant Marine Academy") is part of the United States Code, the codified statutory law of Us Code. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Us Code § 51315?

A common citation format is "United States Code § 51315" (Us Code). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Us Code law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Us Code official source linked on this page or consult a licensed Us Code attorney.

How does Us Code § 51315 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Us Code can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

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