16 USC 579c-1 – Forest Service interest bearing account
(a) Investment authority
Any monies covered into the Treasury under section 579c of this title, including all monies that were previously collected by the United States in a forfeiture, judgment, compromise, or settlement, shall be invested by the Secretary of the Treasury in interest bearing obligations of the United States to the extent the amounts are not, in the judgment of the Secretary of the Treasury, required to meet current withdrawals.
(b) Availability of funds
Terms Used In 16 USC 579c-1
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
Any interest earned under subsection (a) shall be available in the same manner as the monies covered into the Treasury under section 579c of this title to cover the costs to the United States specified in section 579c of this title.
(c) Use of funds
Any portion of the monies received or earned under subsection (a) in excess of the amount expended in performing the work necessitated by the action which led to their receipt may be used to cover the other work specified in section 579c of this title.
(d) Effective date
This section shall apply with respect to fiscal year 2023 and each succeeding fiscal year.