Page:United States Statutes at Large Volume 114 Part 1.djvu/340

 114 STAT. 304 PUBLIC LAW 106-200—MAY 18, 2000 (3) TRANSFERS BASED ON ESTIMATES. —The amounts required to be transferred under paragraph (1) shall be transferred at least quarterly from the general fund of the Treasury of the United States to the Trust Fund on the basis of estimates made by the Secretary of the Treasury of the amounts referred to in paragraph (1) that are received into the Treasury. Proper adjustments shall be made in the amounts subsequently transferred to the extent prior estimates were in excess of, or less than, the amounts required to be transferred. (c) INVESTMENT OF TRUST FUND. — (1) IN GENERAL.—It shall be the duty of the Secretary of the Treasury to invest such portion of the Trust Fund as is not, in the Secretary's judgment, required to meet current withdrawals. Such investments may be made only in interestbearing 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 on original issue at the issue price or by purchase of outstanding obligations at the market price. Any obligation acquired by the Trust Fund may be sold by the Secretary of the Treasury at the market price. (2) INTEREST AND PROCEEDS FROM SALE OR REDEMPTION OF OBLIGATIONS.— The interest on, and the proceeds from the sale or redemption of, any obligations held in the Trust Fund shall be credited to and form a part of the Trust Fund. (d) AVAILABILITY OF AMOUNTS FROM TRUST FUND. — From amounts available in the Trust Fund (including any amounts not obligated in previous fiscal years), the Secretary of Agriculture is authorized to provide grants to a nationally-recognized council established for the development of the United States wool market for the following purposes: (1) Assist United States wool producers to improve the quality of wool produced in the United States, including to improve wool production methods. (2) Disseminate information on improvements described in paragraph (1) to United States wool producers generally. (3) Assist United States wool producers in the development and promotion of the wool market. (e) REPORTS TO CONGRESS.— The Secretary of the Treasury, in consultation with the Secretary of Agriculture, shall prepare and submit to Congress an annual report on the financial condition and the results of the operations of the Trust Fund, including a description of the use of amounts of grants provided under subsection (d), during the preceding fiscal year and on its expected condition and operations during the next fiscal year. Effective date. (f) SUNSET PROVISION.—Effective January 1, 2004, the Trust Fund shall be abolished and all amounts in the Trust Fund on such date shall be transferred to the general fund of the Treasury of the United States.

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