24 U.S.C. § 419

Current through P.L. 118-107 (published on www.congress.gov on 11/21/2024)

Section 419 - Armed Forces Retirement Home Trust Fund

(a) Establishment

There is hereby established in the Treasury of the United States a trust fund to be known as the Armed Forces Retirement Home Trust Fund. The Fund shall consist of the following:

(1) Such amounts as may be transferred to the Fund.

(2) Moneys deposited in the Fund by the Chief Operating Officer realized from gifts or from the disposition of property and facilities.

(3) Amounts deposited in the Fund as monthly fees paid by residents of the Retirement Home under section 414 of this title.

(4) Amounts of fines and forfeitures deposited in the Fund under section 2772 of title 10.

(5) Amounts deposited in the Fund as deductions from the pay of enlisted members, warrant officers, and limited duty officers under section 1007(i) of title 37.

(6) Interest from investments made under subsection (c).

(b) Availability and use of Fund

Amounts in the Fund shall be available solely for the operation of the Retirement Home.

(c) Investments

The Secretary of the Treasury may invest in obligations issued or guaranteed by the United States any monies in the Fund that the Chief Operating Officer determines are not currently needed to pay for the operation of the Retirement Home.

(d) Reporting requirements

The Chief Financial Officer of the Armed Forces Retirement Home shall comply with the reporting requirements of subchapter II of chapter 35 of title 31.

24 U.S.C. § 419

Pub. L. 101-510, div. A, title XV, §15191519,, 104 Stat. 1730; Pub. L. 107-107, div. A, title XIV, §§1404(b)(2), 1410 (2), Dec. 28, 2001, 115 Stat. 1260, 1266; Pub. L. 110-181, div. A, title XIV, §1422(g), Jan. 28, 2008, 122 Stat. 423; Pub. L. 112-81, div. A, title V, §567(b)(1), Dec. 31, 2011, 125 Stat. 1425.

EDITORIAL NOTES

AMENDMENTS2011-Subsec. (a)(2). Pub. L. 112-81 substituted "Chief Operating Officer" for "Retirement Home Board".2008-Subsec. (d). Pub. L. 110-181 added subsec. (d).2001- Pub. L. 107-107, §1410(a)(2), inserted "Armed Forces" before "Retirement Home Trust Fund" in section catchline.Subsec. (c). Pub. L. 107-107, §1404(b)(2), substituted "Chief Operating Officer" for "Director".Subsec. (d). Pub. L. 107-107, §1410(b)(2), struck out heading and text of subsec. (d). Text read as follows:"(1) During the period beginning on November 5, 1990, and ending on September 30, 1994, the Fund shall contain a separate account for each establishment of the Retirement Home. During that period, contributions shall be collected under subsection (a) of this section for the account of the Naval Home for the purpose of achieving a trust fund five times the estimated annual operating budget of the Naval Home."(2) Beginning on November 5, 1990, funds required for the operation of the United States Soldiers' and Airmen's Home shall be drawn from the appropriate account. Beginning on October 1, 1991, funds required for the operation of the Naval Home shall be drawn from the account of the Naval Home."(3) During the period beginning on November 5, 1990, and ending on September 30, 1994-"(A) amounts collected as monthly fees paid by residents of the Naval Home and amounts referred to in subsections (a)(4) and (a)(5) of this section derived from enlisted members, warrant officers, and limited duty officers of the Navy, Marine Corps, and Coast Guard shall be credited to the account relating to that establishment; and"(B) amounts collected as monthly fees paid by residents of the United States Soldiers' and Airmen's Home and amounts referred to in subsections (a)(4) and (a)(5) of this section derived from members and warrant officers of the Army and Air Force shall be credited to the account relating to that establishment."

STATUTORY NOTES AND RELATED SUBSIDIARIES

EFFECTIVE DATESection effective Nov. 5, 1990, see section 1541(b) of Pub. L. 101-510 formerly set out as a note under section 401 of this title.

Retirement Home: The term "Retirement Home" includes the institutions established under section 411 of this title, as follows:(A) The Armed Forces Retirement Home-Washington.(B) The Armed Forces Retirement Home-Gulfport.
Armed Forces Retirement Home Trust Fund: The terms "Armed Forces Retirement Home Trust Fund" and "Fund" mean the Armed Forces Retirement Home Trust Fund established under section 419(a) of this title.
Fund: The terms "Armed Forces Retirement Home Trust Fund" and "Fund" mean the Armed Forces Retirement Home Trust Fund established under section 419(a) of this title.