26-U.S.C.-7810
§7810 – Revolving Fund For Redemption of Real Property
Pathway
Title 26 > Subtitle F > Chapter 80 > Subchapter A > Section 7810
Details
- Reference: Section 7810
- Legend: §7810 – Revolving Fund For Redemption of Real Property
- USCode Year: 2013
Provision Content
(a) Establishment of fund
There is established a revolving fund, under the control of the Secretary, which shall be available without fiscal year limitation for all expenses necessary for the redemption (by the Secretary) of real property as provided in section 7425(d) and section 2410 of title 28 of the United States Code. There are authorized to be appropriated from time to time such sums (not to exceed $10,000,000 in the aggregate) as may be necessary to carry out the purposes of this section.
(b) Reimbursement of fund
The fund shall be reimbursed from the proceeds of a subsequent sale of real property redeemed by the United States in an amount equal to the amount expended out of such fund for such redemption.
(c) System of accounts
The Secretary shall maintain an adequate system of accounts for such fund and prepare annual reports on the basis of such accounts.
(Added Pub. L. 89–719, title I, §112(a), Nov. 2, 1966, 80 Stat. 1145; amended Pub. L. 94–455, title XIX, §1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 98–369, div. A, title IV, §443, July 18, 1984, 98 Stat. 816.)
Amendments
1984—Subsec. (a). Pub. L. 98–369 substituted $10,000,000 for $1,000,000.
1976—Pub. L. 94–455 struck out or his delegate after Secretary wherever appearing.
Effective Date
Section applicable after Nov. 2, 1966, regardless of when title or lien of United States arose or when lien or interest of another person was acquired, with certain exceptions, see section 114(a)–(c) of Pub. L. 89–719, set out as an Effective Date of 1966 Amendment note under section 6323 of this title.
U.S. Encyclopedia of Law Coverage
26-U.S.C.-7808 in the Legal Encyclopedia: Tax Administration
In this entry about 26-U.S.C.-7808, find legal reference material, bibliographies and premiere content related to tax administration in the American Encyclopedia of Law, presenting a comprehensive view of the United States tax administration-specific issues, written by authorities in the field.
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