§1301 — Title 40 Public Buildings, Property, and Works | U.S. Code

Summary

The General Services Administration must manage property the federal government receives to pay debts. It also handles trusts made to pay those debts and the sale or disposal of that property, including land that comes to the government through mortgages or other security. This does not apply to real estate or trusts tied to debts under the Internal Revenue Code of 1986 (26 U.S.C. 1 et seq.).

Title 40, §1301

Public Buildings, Property, and Works — Source: USLM XML via OLRC

(a)Except as provided in subsection (b), the Administrator of General Services shall have charge of—

(1)all land and other property which has been or may be assigned, set off, or conveyed to the Federal Government in payment of debts;

(2)all trusts created for the use of the Government in payment of debts due the Government; and

(3)the sale and disposal of land—

(A)assigned or set off to the Government in payment of debt; or

(B)vested in the Government by mortgage or other security for the payment of debts.

(b)This section does not apply to—

(1)real estate which has been or shall be assigned, set off, or conveyed to the Government in payment of debts arising under the Internal Revenue Code of 1986 (26 U.S.C. 1 et seq.); or

(2)trusts created for the use of the Government in payment of debts arising under the Code and due the Government.

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 130140:301.R.S. § 3750; Pub. L. 89–30, § 2, June 2, 1965, 79 Stat. 119. In subsection (a), the words “Except as provided in subsection (b)” are added for clarity. In subsection (b)(1), the words “the Internal Revenue Code of 1986 (26 U.S.C. 1 et seq.)” are substituted for “the internal-revenue laws” for clarity and for consistency in the revised title and with other titles of the United States Code.

Editorial Notes

References in Text

The Internal Revenue Code of 1986, referred to in subsec. (b)(1), is classified to Title 26, Internal Revenue Code.

§1301 Charge of property transferred to the Federal Government