§ 2605. Oregon and California land-grant fund; annual distribution of moneys

682 words·~3 min read·/usc/title-43/section-2605

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On and after March 1, 1938, all moneys deposited in the Treasury of the United States in the special fund designated the “Oregon and California land-grant fund” shall be distributed annually as follows:

(a)Fifty per centum to the counties in which the lands revested under the Act of June 9, 1916 (39 Stat. 218), are situated, to be payable on or after June 30, 1938, and each year thereafter to each of said counties in the proportion that the total assessed value of the Oregon and California grant lands in each of said counties for the year 1915 bears to the total assessed value of all of said lands in the State of Oregon for said year, such moneys to be used as other county funds: Provided, however, That for the purposes of this subsection the portion of the said revested Oregon and California railroad grant lands in each of said counties which was not assessed for the year 1915 shall be deemed to have been assessed at the average assessed value of the grant lands in said county.

(b)From and after payment of the above accrued taxes said 25 per centum shall be accredited annually to the general fund in the Treasury of the United States until all reimbursable charges against the Oregon and California land-grant fund owing to the general fund in the Treasury have been paid: Provided, That if for any year after the extinguishment of the tax indebtedness accruing to the counties prior to March 1, 1938, under the provisions of Forty-fourth Statutes, page 915, the total amount payable under subsection

(a)of this section is less than 78 per centum of the aggregate amount of tax claims which accrued to said counties under said Act for the year 1934, there shall be additionally payable for such year such portion of said 25 per centum (but not in excess of three-fifths of said 25 per centum), as may be necessary to make up the deficiency. When the general fund in the Treasury has been fully reimbursed for the expenditures which were made charges against the Oregon and California land-grant fund said 25 per centum shall be paid annually, on or after September 30, to the several counties in the manner provided in subsection

(a)hereof.

(c)Twenty-five per centum to be available for the administration of this subchapter, in such annual amounts as the Congress shall from time to time determine. Any part of such per centum not used for administrative purposes shall be covered into the general fund of the Treasury of the United States: Provided, That moneys covered into the Treasury in such manner shall be used to satisfy the reimbursable charges against the Oregon and California land-grant fund mentioned in subsection

(b)so long as any such charges shall exist.

(Aug. 28, 1937, ch. 876, title II, 50 Stat. 875; June 24, 1954, ch. 357, § 1(b), 68 Stat. 271; Pub. L. 94–273, § 2(28), Apr. 21, 1976, 90 Stat. 376.)

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39 Stat. 218
Aug. 28, 1937, ch. 876
50 Stat. 875
June 24, 1954, ch. 357, § 1(b)
68 Stat. 271
Pub. L. 94–273, § 2(28)
90 Stat. 376
act June 9, 1916, ch. 137
44 Stat. 915
act July 13, 1926, ch. 897
act Aug. 28, 1937, ch. 876
50 Stat. 874
Pub. L. 94–273

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§ 2605

Oregon and California land-grant fund; annual distribution of moneys

Bills×30

Pub. L.×6

Stat.×6

U.S.C.×6

Stat. Comp.×3

Fed. Reg.×2

U.S.C.§ 1181f

U.S.C.§ 2601

Stat.39 Stat. 218

ActAug. 28, 1937, ch. 876

Stat.50 Stat. 875

ActJune 24, 1954, ch. 357, § 1(b)

Stat.68 Stat. 271

Cites 15 · showing 7Cited by 53 across 6 sources