§ 7810. Revolving fund for redemption of real property

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. 1966

   Federal Tax Lien Act of 1966

   Pub. L. 89–719 title I § 112(a) · 80 Stat. 1125

   Enacted · 26 U.S.C. § 7810

   Added Pub. L. 89–719, title I, § 112(a), Nov. 2, 1966, 80 Stat. 1145

   Source evidence

   Code source credit
   Added Pub. L. 89–719, title I, § 112(a), Nov. 2, 1966, 80 Stat. 1145

   Enacted provision · exact public law section
   (a) Creation of Fund for Redemption of Real Property.— Subchapter A of chapter 80 (relating to application of internal revenue laws) is amended by adding at the end thereof the following new section: “SEC. 7810. REVOLVING FUND FOR REDEMPTION OF REAL PROPERTY. “(a) Establishment of Fund.— There is established a revolving fund, under the control of the Secretary or his delegate, which shall be available without fiscal year limitation for all expenses necessary for the redemption (by the Secretary or his delegate) of real property Ante, p. 1141. as provided in section 7425(d) and section 2410 of title 28 of the Post, p. 1147. United States Code. There are authorized to be appropriated from time to time such sums (not to exceed $1,000,000 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 or his delegate shall maintain an adequate system of accounts for such fund and prepare annual reports on the basis of such accounts.”

2. 1976

   Pub. L. 94–455 title XIX § 1906(b)(13)(A) · 90 Stat. 1520

   Struck · 26 U.S.C. § 7810

   Pub. L. 94–455 struck out “or his delegate” after “Secretary” wherever appearing

   Source evidence

   Code amendment note
   Pub. L. 94–455 struck out “or his delegate” after “Secretary” wherever appearing.

   Enacted provision · exact public law section
   (A) The Internal Revenue Code of 1954, as amended by this Act, is amended by striking out “Secretary or his delegate” each place it appears and inserting in lieu thereof “Secretary”.

3. 1984

   Tax Reform Act of 1984

   Pub. L. 98–369 div. A title IV § 443 · 98 Stat. 494

   Substituted · 26 U.S.C. § 7810(a)

   Pub. L. 98–369 substituted “$10,000,000” for “$1,000,000”

   Source evidence

   Code amendment note
   Subsec. (a). Pub. L. 98–369 substituted “$10,000,000” for “$1,000,000”.

   Enacted provision · exact public law section
   SEC. 443. INCREASE IN LIMITATION ON REVOLVING FUND FOR REDEMPTION OF REAL PROPERTY. 26 USC 7810. Subsection (a) of section 7810 (relating to revolving fund for redemption of real property) is amended by striking out “$1,000,000” and inserting in lieu thereof “$10,000,000”.

3 of 3 references resolved to an enrolled provision