Page:United States Statutes at Large Volume 94 Part 1.djvu/773

 PUBLIC LAW 96-294—JUNE 30, 1980

94 STAT. 723

financial transactions of the Bank, and for this purpose shall have access to all of the books, records, and accounts of the Bank. (c) The Bank may impose fees or charges for its services which shall be deposited into the miscellaneous receipts of the Treasury. BOARD OF DIRECTORS

SEC. 506. (a) The Bank shall be governed by a Board of Directors. 12 USC 3604. The Board shall consist of the Secretary of Housing and Urban Development, the Secretary of Energy, the Secretary of the Treasury, the Secretary of Agriculture, and the Secretary of Commerce. (b) Three members of the Board shall constitute a quorum. (c) The Chairperson of the Board shall be the Secretary of Housing and Urban Development. (d) The President of the Bank shall be the Secretary of the Board. (e) The Board shall carry out the functions of the Bank as set forth in this subtitle and shall adopt such regulations, subject to the provisions of section 7(o) of the Department of Housing and Urban Development Act (42 U.S.C. 3535(o)), as the Board determines are necessary to carry out such functions. (f) The Board shall provide to the Secretary of the Treasury such information as the Secretary of the Treasury determines is necessary to insure that no individual is allowed for the same expenditure both— (1) a credit against taxes under section 38 or section 44C of the Internal Revenue Code of 1954; and 26 USC 38, 44C. (2) financial assistance under this subtitle. OFFICERS AND PERSONNEL

SEC. 507. (a) There is established in the Department of Housing and Urban Development the position of President of the Bank, which shall be filled by an individual appointed by the President of the United States with the advice and consent of the Senate and which shall be compensated at the rate now or thereafter prescribed for executive level V by section 5316 of title 5, United States Code. (b) The President of the Bank shall appoint an Executive Vice President for Energy Conservation, and an Executive Vice President for Solar Energy, who shall be paid at a rate set by the Board and shall have the functions, powers, and duties prescribed by the President of the Bank. (c) Subject to the direction of the Board, the President of the Bank shall manage and supervise the affairs of the Bank with the assistance of the Executive Vice Presidents and shall perform any functions of the Bank which the Board may prescribe. (d) The Secretary of Housing and Urban Development may permit the Bank to utilize the services or personnel of the Department of Housing and Urban Development, including the personnel of the Government National Mortgage Association, for the purpose of carrying out this subtitle.

President of the ^^"^ ^^ ^^^ ^^"^• 44 FR 58678.

Functions.

ADVISORY COMMITTEES

S E C 508. (a) As part of the Bank, there is established an Energy Conservation Advisory Committee composed of 5 members which shall provide advice to the Board for the purpose of assisting the Bank in carrying out the activities of the Bank which relate to residential and commercial energy conserving improvements. The

Energy Conservation Advisory Committee. Establishment. 12 USC 3606.

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