§1641a — Title 22 Foreign Relations and Intercourse | U.S. Code

Summary

The Treasury must create five funds named for Bulgaria, Hungary, Rumania, Italy, and the Soviet Union. It must put into the Bulgarian, Hungarian, and Rumanian funds the amounts that the law at sections 1631a(a) and 1631a(b) calls for. It must put $5,000,000 into the Italian fund under article II of the Memorandum of Understanding. It must put into the Soviet fund the money the United States collects under the Litvinov Assignment, including postal money orders to the USSR due before November 16, 1933. The Treasury must take 5 percent from each fund to pay Commission and Treasury administration costs before any payment under section 1641i. Money taken goes to miscellaneous receipts. The Treasury must also add to the Bulgarian and Rumanian funds any payments those countries make under settlement agreements, and add to the Hungarian fund any payments from Hungary under the United States‑Hungarian Claims Agreement of March 6, 1973.

Title 22, §1641a

Foreign Relations and Intercourse — Source: USLM XML via OLRC

(a)There are created in the Treasury of the United States five funds to be known as the Bulgarian Claims Fund, the Hungarian Claims Fund, the Rumanian Claims Fund, the Italian Claims Fund, and the Soviet Claims Fund. The Secretary of the Treasury shall cover into each of the Hungarian, Rumanian, and Bulgarian Claims Funds, the funds attributable to the respective country or its nationals covered into the Treasury pursuant to subsections (a) and (b) of section 1631a of this title. The Secretary of the Treasury shall cover into the Italian Claims Fund the sum of $5,000,000 paid to the United States by the Government of Italy pursuant to article II of the Memorandum of Understanding. The Secretary shall cover into the Treasury the funds collected by the United States pursuant to the Litvinov Assignment (including postal funds due prior to November 16, 1933, to the Union of Soviet Socialist Republics because of money orders certified to that country for payment) and shall cover into the Soviet Claims Fund the funds so covered into the Treasury. The Secretary shall deduct from each claims fund 5 per centum thereof as reimbursement to the Government of the United States for the expenses incurred by the Commission and by the Treasury Department in the administration of this subchapter. Such deduction shall be made before any payment is made out of such fund under section 1641i of this title. All amounts so deducted shall be covered into the Treasury to the credit of miscellaneous receipts.

(b)The Secretary of the Treasury shall cover into each of the Bulgarian and Rumanian Claims Funds such sums as may be paid by the Government of the respective country pursuant to the terms of any claims settlement agreement between the Government of the United States and the Government of such country.

(c)The Secretary of the Treasury shall cover into the Hungarian Claims Fund, such sums as may be paid to the United States by the Government of Hungary pursuant to the terms of the United States Hungarian Claims Agreement of March 6, 1973.

Editorial Notes

Amendments

1974—Subsec. (c). Pub. L. 93–460 added subsec. (c). 1968—Pub. L. 90–421 designated existing provisions as subsec. (a) and added subsec. (b).

§1641a Claims funds

Summary

Title 22, §1641a

Notes & Related Subsidiaries

Editorial Notes

Amendments

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