51-U.S.C.-40902
§40902 – National Aeronautics and Space Administration Endeavor Teacher Fellowship Trust Fund
Pathway
Title 51 > Subtitle IV > Chapter 409 > Section 40902
Details
- Reference: Section 40902
- Legend: §40902 – National Aeronautics and Space Administration Endeavor Teacher Fellowship Trust Fund
- USCode Year: 2012
Provision Content
(a) Establishment.—There is established in the Treasury of the United States, in tribute to the dedicated crew of the Space Shuttle Challenger, a trust fund to be known as the National Aeronautics and Space Administration Endeavor Teacher Fellowship Trust Fund (hereafter in this section referred to as the Trust Fund”). The Trust Fund shall consist of amounts which may from time to time, at the discretion of the Administrator, be transferred from the National Aeronautics and Space Administration Gifts and Donations Trust Fund.
(b) Investment of Trust Fund.—The Administrator shall direct the Secretary of the Treasury to invest and reinvest funds in the Trust Fund in public debt securities with maturities suitable for the needs of the Trust Fund, and bearing interest at rates determined by the Secretary of the Treasury, taking into consideration the current average market yield on outstanding marketable obligations of the United States of comparable maturities. Interest earned shall be credited to the Trust Fund.
(c) Purpose.—Income accruing from the Trust Fund principal shall be used to create the National Aeronautics and Space Administration Endeavor Teacher Fellowship Program, to the extent provided in advance in appropriation Acts. The Administrator is authorized to use such funds to award fellowships to selected United States nationals who are undergraduate students pursuing a course of study leading to certified teaching degrees in elementary education or in secondary education in mathematics, science, or technology disciplines. Awards shall be made pursuant to standards established for the fellowship program by the Administrator.
(d) Availability of Funds.—The interest accruing from the National Aeronautics and Space Administration Endeavor Teacher Fellowship Trust Fund principal shall be available in fiscal year 2012 for the purpose of the Endeavor Science Teacher Certificate Program.
(Pub. L. 111–314, §3, Dec. 18, 2010, 124 Stat. 3391; Pub. L. 112–55, div. B, title III, Nov. 18, 2011, 125 Stat. 626.)
| Revised Section |
Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 40902 | 42 U.S.C. 2467a. | Pub. L. 102–195, §20, Dec. 9, 1991, 105 Stat. 1615. |
In subsection (a), the words The Trust Fund shall consist of amounts” are substituted for The Trust Fund shall consist of gifts and donations accepted by the National Aeronautics and Space Administration pursuant to section 208 of the National Aeronautics and Space Act of 1958 (42 U.S.C. 2476b), as well as other amounts” because the Administrations authority to accept gifts or donations under section 208 of the National Aeronautics and Space Act of 1958 terminated 5 years after October 30, 1987.
Amendments
2011—Subsec. (d). Pub. L. 112–55 added subsec. (d).
U.S. Encyclopedia of Law Coverage
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