Page:United States Statutes at Large Volume 122.djvu/4787

 12 2 STA T .476 4 PUBLIC LA W 11 0– 417 —O CT. 14 , 200 8ina n yo n e a c a d e m ic tr ime s ter , ore qu i v a l ent, as contractors under t h e p ro g ram .( d )TERMINAT I O NO FC ONTRA C TIN GAU T H ORIT Y . — The authority toa w ard contracts under the program shall terminate upon the end o f the academic year 20 0 8– 200 9 . (e) EX I S TING CONTRACTS.—Any contract entered into b efore the effective date of this section for the services of an ad j unct professor at the Academy shall remain in effect for the trimester (or tri - mesters) for which the services were contracted. (f) D EFINITIONS.— I n this section

( 1 ) ACA D EMY.—The term ‘ ‘Academy ’ ’ means the U nited S tates M erchant Marine Academy. (2) MARITIME ADMINISTRATOR.—The term ‘‘Maritime Administrator’’ means the Administrator of the Maritime Administration, or a designee of the Administrator. ( 3 ) P ROGRAM.—The term ‘‘program’’ means the program established under subsection (a). (g) G IFTS TO THE ACADEMY.— (1) IN GENERA L .—Chapter 5 13 of title 46, United States Code, is amended by adding at the end thereof the following: ‘ ‘ §513 15 .Gifts t o t heM e rc h an t Marine A ca d e my ‘‘(a) IN GENERAL.—The Maritime Administrator may accept and use conditional or unconditional gifts of money or property for the benefit of the United States Merchant Marine Academy, including acceptance and use for non-appropriated fund instrumen- talities of the Merchant Marine Academy. The Maritime Adminis- trator may accept a gift of services in carrying out the Administra- tor’s duties and powers. Property accepted under this section and proceeds from that property must be used, as nearly as possible, in accordance with the terms of the gift. ‘‘(b) ESTA B LISHMENT OF ACADEMY GIFT F UND.—There is estab- lished in the Treasury a fund, to be k nown as the ‘Academy Gift Fund’. Disbursements from the Fund shall be made on order of the Maritime Administrator. Unless otherwise specified by the terms of the gift, the Maritime Administrator may use monies in the Fund for appropriated or non-appropriated purposes at the Academy. The Fund consists of— ‘‘(1) gifts of money ‘‘(2) income from donated property accepted under this section; ‘‘(3) proceeds from the sale of donated property; and ‘‘(4) income from securities under subsection (c) of this section. ‘‘(c) IN V ESTMENT OF FUND B ALANCES.— O n request of the Mari- time Administrator, the Secretary of the Treasury may invest and reinvest amounts in the Fund in securities of, or in securities the principal and interest of which is guaranteed by, the United States Government. ‘‘(d) DISBURSEMENT AUTHORITY.—There are hereby authori z ed to be disbursed from the Fund such sums as may be on deposit, to remain available until e x pended. ‘‘(e) DEDUCTIBILITY OF GIFTS.—Gifts accepted under this section are a gift to or for the use of the Government under the Internal R evenue Code of 1986.’’.

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