II 110th CONGRESS 1st Session S. 1325 IN THE SENATE OF THE UNITED STATES May 8, 2007 Mr. Crapo (for himself and Mr. Craig) introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions A BILL To amend the Act of July 3, 1890, to provide for the granting to a State of a parcel of land for use as an agricultural college and to proscribe the use of earnings and proceeds thereof.

1.

Agricultural college land grant

(a)

In general

Section 10 of the Act of July 3, 1890 (26 Stat. 215, chapter 656) is amended to read as follows:

10.

Agricultural college land grant

(a)

In general

A quantity of land equaling 90,000 acres, to be selected and located in accordance with section 4, is granted to said State to use for, and in support of, an agricultural college in said State, as provided in the Acts of Congress making donations for land for those purposes. (b)

Exception

Notwithstanding sections 3 through 5 of the Act of July 2, 1862 (commonly known as the First Morrill Act) (7 U.S.C. 303 et seq.), the State of Idaho may— (1)invest and manage earnings and proceeds derived from land granted to the State of Idaho pursuant to subsection (a), in accordance with the standards applicable to a trustee under Idaho law; (2)deduct from earnings and proceeds generated from granted land any expenses that a trustee is authorized to deduct pursuant to Idaho law; and (3)use earnings and proceeds generated by the granted land for any uses and purposes described in that Act (7 U.S.C. 301 et seq.) without regard to the limitations set out in section 5 of that Act (7 U.S.C. 305) that prohibit the State from exceeding 10 per centum on the purchase of land and prohibit the State from purchasing, erecting, preserving, or repairing of any building or buildings.

. (b)

Effective date

The amendment made by subsection (a) shall take effect on October 27, 1998.