Us Code § 7810 - Revolving fund for redemption of real property
Full text of Us Code United States Code § 7810 — Revolving fund for redemption of real property, with citation guidance and answers to common questions.
§ 7810. Revolving fund for redemption of real property
(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) and section 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.
(c) System of accounts
The Secretary shall maintain an adequate system of accounts for such fund and prepare annual reports on the basis of such accounts.
(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.)
Editorial Notes
Amendments
1984—Subsec. (a). Pub. L. 98–369 substituted "$10,000,000" for "$1,000,000".
1976—Pub. L. 94–455 struck out "or his delegate" after "Secretary" wherever appearing.
Statutory Notes and Related Subsidiaries
Effective Date
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.
About This Section
26 U.S.C. § 7810 is part of Title 26 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.
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