IIB
112th CONGRESS
2d Session
H. R. 6122
IN THE SENATE OF THE UNITED STATES
September 11, 2012
Received; read twice and referred to the Committee on Rules and Administration
AN ACT
To revise the authority of the Librarian of Congress to accept gifts and bequests on behalf of the Library, and for other purposes.
Authority of Librarian of Congress to accept gifts and bequests
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—
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.
;
in the second sentence, by inserting
of money
after bequests
; and
in the third
sentence, by striking enter them
and inserting enter the
gift, bequest, or proceeds
.
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.
.
Public report on accepted gifts
Section 4 of such Act (2 U.S.C. 160) is amended—
in the first
sentence of the first undesignated paragraph, by striking
Nothing
and inserting (a)
Acceptance and Disbursement of
Gifts.—Nothing
; and
by adding at the end the following new subsection:
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.
.
Passed the House of Representatives September 10, 2012.
Karen L. Haas,
Clerk