§17303 — Title 40 Public Buildings, Property, and Works | U.S. Code

Summary

Creates a revolving Treasury fund to pay for replacing valuables that are lost, destroyed, or damaged while being shipped under the government's shipping rules. The fund does not cover Postal Service losses that are charged to its officers or employees, or shipments sent at the risk of private parties instead of the Federal Government, its agencies, corporations, officers, or employees. Money recovered or repaid for such losses goes back into the fund and can be used again. Congress provides the needed money for the fund.

Title 40, §17303

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

(a)There is a revolving fund in the Treasury known as “the fund for the payment of Government losses in shipment”.

(b)The fund shall be used for the replacement of valuables, or the value of valuables, lost, destroyed, or damaged while being shipped in accordance with regulations prescribed under section 17302 of this title.

(c)The fund is not available with respect to any loss, destruction, or damage affecting valuables—

(1)that relates to property of the United States Postal Service that is chargeable to its officers or employees; or

(2)of which shipment shall have been made at the risk of persons other than the Federal Government and the executive departments, independent establishments, agencies, wholly owned Government corporations, officers and employees of the Government.

(d)All recoveries and repayments on account of loss, destruction, or damage to valuables for which replacement is made out of the fund shall be credited to it and are available for the purposes of the fund.

(e)Necessary amounts are appropriated for the fund.

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 17303(a)40:722 (3d sentence words before 2d comma).July 8, 1937, ch. 444, § 2, 50 Stat. 479. 17303(b)40:722 (1st sentence words after 5th comma). 40:723 (2d sentence 2d proviso).July 8, 1937, ch. 444, § 3 (2d sentence 2d, last provisos, last sentence), 50 Stat. 480; Aug. 10, 1939, ch. 665, § 1, 53 Stat. 1358; Pub. L. 91–375, § 6(m)(4), Aug. 12, 1970, 84 Stat. 782. 17303(c)40:723 (2d sentence last proviso). 17303(d)40:723 (last sentence). 17303(e)40:722 (1st sentence words before 5th comma, 2d sentence, 3d sentence words after 2d comma, last sentence). 40:722a.Pub. L. 103–329, title I (par. under heading “Payment of Government Losses in Shipment”), Sept. 30, 1994, 108 Stat. 2387. In subsection (a), the words “(hereinafter referred to as ‘the fund’)” are omitted as unnecessary. In subsection (b), the text of 40:723 (2d sentence 2d proviso) is omitted as obsolete. In subsection (e), the text of 40:722 (1st sentence words before 5th comma, 2d sentence, 3d sentence words after 2d comma, and last sentence) and the words “Beginning in fiscal year 1995 and thereafter” in 40:722a are omitted as obsolete. The words “for the fund” are substituted for “to make payments for the replacement of valuables, or the value thereof, lost, destroyed, or damaged in the course of shipments effected pursuant to section 721 of this title” for clarity and to eliminate unnecessary words.

§17303 Fund for the payment of Government losses in shipment

Summary

Title 40, §17303

Notes & Related Subsidiaries

Historical and Revision Notes

Citations & Metadata