1.Authority of Librarian of
Congress to accept gifts and bequests
(a)Expanding types
of gifts that may be acceptedThe 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 securitiesThe 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 giftsSection 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 GiftsIn 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.
.
Passed the House of
Representatives September 10, 2012.
Karen L. Haas,
Clerk