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Title 20 — EducationRelease 119-73

§5606 Establishment of Morris K. Udall and Stewart L. Udall Trust Fund

Title 20 › Chapter CHAPTER 66— - MORRIS K. UDALL AND STEWART L. UDALL FOUNDATION › § 5606

Last updated Apr 6, 2026|Official source

Summary

Creates a trust fund in the U.S. Treasury called the Morris K. Udall and Stewart L. Udall Trust Fund. A Foundation will run the fund, and it will hold money Congress puts in under section 5609(a) and amounts credited under subsection (b). The Treasury Secretary must, when the Foundation Board directs, fully invest the appropriated amounts in U.S. government debt with maturities that match the fund’s needs. The Secretary will set interest rates based on current market yields for similar securities. Beginning October 1, 2023, interest from investments made with any new appropriations can only be spent if Congress approves it and may be used to carry out this chapter.

Full Legal Text

Title 20, §5606

Education — Source: USLM XML via OLRC

(a)There is established in the Treasury of the United States a trust fund to be known as the “Morris K. Udall and Stewart L. Udall Trust Fund” to be administered by a Foundation. The Trust Fund shall consist of amounts appropriated to it pursuant to section 5609(a) of this title and amounts credited to it under subsection (b).
(b)(1)It shall be the duty of the Secretary of the Treasury to invest, at the direction of the Foundation Board, in full the amounts appropriated to the Trust Fund. Such investments shall be in public debt securities with maturities suitable to the needs of the Trust Fund. Investments in public debt securities shall bear interest “at rates determined by the Secretary of the Treasury taking into consideration the current average market yield on outstanding marketable obligations of the United States” of comparable maturity. Beginning on October 1, 2023, and thereafter, interest earned from investments made with any new appropriations to the Trust Fund shall only be available subject to appropriations and is authorized to be appropriated to carry out the provisions of this chapter.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

2024—Subsec. (b)(1). Pub. L. 118–47 inserted at end “Beginning on October 1, 2023, and thereafter, interest earned from investments made with any new appropriations to the Trust Fund shall only be available subject to appropriations and is authorized to be appropriated to carry out the provisions of this chapter.” 2009—Pub. L. 111–90 substituted “and Stewart L. Udall” for “Scholarship and Excellence in National Environmental Policy” in section catchline and in subsec. (a). 1998—Subsec. (a). Pub. L. 105–156, § 9(a), substituted “The Trust Fund” for “The fund” and “5609(a)” for “5609”. Subsec. (b)(1). Pub. L. 105–156, § 9(b), substituted “Trust Fund” for “Fund” in two places.

Reference

Citations & Metadata

Citation

20 U.S.C. § 5606

Title 20 — Education

Last Updated

Apr 6, 2026

Release point: 119-73