§ 4707. Barry Goldwater Scholarship and Excellence in Education Fund

Footnotes

1. 1 So in original. Two subsecs. (d) have been enacted.
2. 2 See References in Text note below.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1986

   Barry Goldwater Scholarship and Excellence in Education Act

   Pub. L. 99–661 div. A title XIV § 1408 · 100 Stat. 3816

   Enacted · 20 U.S.C. § 4707

   Pub. L. 99–661, div. A, title XIV, § 1408, Nov. 14, 1986, 100 Stat. 4010

   Source evidence

   Code source credit
   Pub. L. 99–661, div. A, title XIV, § 1408, Nov. 14, 1986, 100 Stat. 4010

   Enacted provision · exact public law section
   SEC. 1408. BARRY GOLDWATER SCHOLARSHIP AND EXCELLENCE IN EDUCATION FUND (a) Establishment of Fund.— There is established in the Treasury of the United States a trust fund to be known as the Barry Goldwater Scholarship and Excellence in Education Fund. The fund shall consist of amounts appropriated to it pursuant to section 1412 and amounts credited to it under subsection (d). (b) Investment of Fund Assets.— It shall be the duty of the Secretary of the Treasury to invest in full the amounts appropriated to the fund. Such investments may be made only in interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States. For such purpose, such obligations may be acquired (1) on original issue at the issue price, or (2) by purchase of outstanding obligations at the market place. The purposes for which obligations of the United States may 31 USC 3121. be issued under the Second Liberty Bond Act are hereby extended to authorize the issuance at par of special obligations exclusively to the fund. Such special obligations shall bear interest at a rate equal to the average rate of interest, computed as to the end of the calendar month next preceding the date of such issue, borne by all marketable interest-bearing obligations of the United States then forming a part of the public debt, except that where such average rate is not a multiple of ⅛ of 1 percent, the rate of interest of such special obligations shall be the multiple of ⅛ 1 percent next lower than such average rate. Such special obligations shall be issued only if the Secretary determines that the purchases of other interest-bearing obligations of the United States, or of obligations guaranteed as to both principal and interest by the United States or original issue or at the market price, is not in the public interest. (c) Authority To Sell Obligations.— Any obligation acquired by the fund (except special obligations issued exclusively to the fund) may be sold by the Secretary at the market price, and such special obligations may be redeemed at par plus accrued interest. (d) Proceeds From Certain Transactions Credited to Fund.— The interest on, and the proceeds from the sale or redemption of any obligations held in the fund shall be credited to and form a part of the fund.

2. 1991

   National Defense Authorization Act for Fiscal Years 1992 and 1993

   Pub. L. 102–190 § 1089(2)(A) · 105 Stat. 1290

   Substituted · 20 U.S.C. § 4707(b)

   Pub. L. 102–190, § 1089(2)(A), substituted “public debt securities of the United States with maturities suitable to the fund.” for “interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States.”

   Source evidence

   Code amendment note
   Subsec. (b). Pub. L. 102–190, § 1089(2)(A), substituted “public debt securities of the United States with maturities suitable to the fund.” for “interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States.”

   Enacted provision · exact public law section
   (A) in subsection (b), by striking out all after “in” in the second sentence and inserting in lieu thereof “public debt securities of the United States with maturities suitable to the fund.”; and

3. 1991

   National Defense Authorization Act for Fiscal Years 1992 and 1993

   Pub. L. 102–190 § 1089(2)(B)(ii) · 105 Stat. 1290

   Struck · 20 U.S.C. § 4707(c)

   Pub. L. 102–190, § 1089(2)(B)(ii), struck out “, and such special obligations may be redeemed at par plus accrued interest” after “market price”

   Source evidence

   Code amendment note
   Subsec. (c). Pub. L. 102–190, § 1089(2)(B)(ii), struck out “, and such special obligations may be redeemed at par plus accrued interest” after “market price”.

   Enacted provision · exact public law section
   (ii) by striking out “, and such” and all that follows through “accrued interest”.

4. 1991

   National Defense Authorization Act for Fiscal Years 1992 and 1993

   Pub. L. 102–190 § 1089(2)(B)(i) · 105 Stat. 1290

   Struck · 20 U.S.C. § 4707(c)

   Pub. L. 102–190, § 1089(2)(B)(i), which directed striking out of “(exceptional special obligations issued exclusively to the fund)”, could not be executed because those words did not appear. See 1992 Amendment note above

   Target inherited from the preceding amendment note.

   Source evidence

   Code amendment note
   Pub. L. 102–190, § 1089(2)(B)(i), which directed striking out of “(exceptional special obligations issued exclusively to the fund)”, could not be executed because those words did not appear. See 1992 Amendment note above.

   Enacted provision · exact public law section
   (i) by striking out “(exceptional special obligations issued exclusively to the fund)”; and

5. 1992

   Wagner-O’Day Act

   Pub. L. 102–484 div. A title X § 1054(h) · 106 Stat. 2315

   Struck · 20 U.S.C. § 4707(c)

   Pub. L. 102–484 struck out “(except special obligations issued exclusively to the fund)” after “by the fund”

   Source evidence

   Code amendment note
   Subsec. (c). Pub. L. 102–484 struck out “(except special obligations issued exclusively to the fund)” after “by the fund”.

   Enacted provision · exact public law section
   (h) Public Law 99–661.— Section 1408(c) of the Barry Goldwater Scholarship and Excellence in Education Act (title XIV of Public Law 99–661; 20 U.S.C. 4707(c)) is amended by striking out “(except special obligations issued exclusively to the fund)”.

6. 2021

   Barry Goldwater Scholarship and Excellence in Education Modernization Act of 2021

   Pub. L. 117–81 div. F title LXIII § 6306 · 135 Stat. 1541

   1. Added · 20 U.S.C. § 4707(c)(e)

      Pub. L. 117–81 added subsec. (c) and subsec. (d) relating to contruction

   2. Redesignated · 20 U.S.C. § 4707(c)(e)

      Pub. L. 117–81 redesignated former subsecs. (c) and (d) as (d) and (e), respectively

   Source evidence

   Code amendment note
   Subsecs. (c) to (e). Pub. L. 117–81 added subsec. (c) and subsec. (d) relating to contruction and redesignated former subsecs. (c) and (d) as (d) and (e), respectively.

   Enacted provision · exact public law section
   SEC. 6306. SUSTAINABLE INVESTMENTS OF FUNDS.   Section 1408 of the Barry Goldwater Scholarship and Excellence in Education Act (20 U.S.C. 4707) is amended— (1) by redesignating subsections (c) and (d) as subsections (d) and (e), respectively; and (2) by inserting after subsection (b) the following: “(c) Investment in Securities.— Notwithstanding subsection (b), the Secretary of the Treasury may invest any public or private funds received by the Foundation after the date of enactment of the Barry Goldwater Scholarship and Excellence in Education Modernization Act of 2021 in securities other than or in addition to public debt securities of the United States, if— “(1) the Secretary receives a determination from the Board that such investments are necessary to enable the Foundation to carry out the purposes of this title; and “(2) the securities in which such funds are invested are traded in established United States markets. “(d) Construction.— Nothing in this section shall be construed to limit the authority of the Board to increase the number of scholarships provided under section 4704, or to increase the amount of the stipend authorized by section 4705, as the Board considers appropriate and is otherwise consistent with the requirements of this title.” .

7 of 7 references resolved to an enrolled provision