gifts

giftsSec. 141. (a) Revising Authorities of Librarian to Accept Gifts.—The first undesignated paragraph of section 4 of the Act entitled “An Act to create a Library of Congress Trust Fund Board, and for other purposes”, approved March 3, 1925 (2 U.S.C. 160), is amended—(1) in the first sentence—136 STAT. 519(A) by striking “and” before “(3) gifts or bequests of money for immediate disbursement”; and (B) by striking the period at the end and inserting the following: “; and (4) gifts or bequests of securities or other personal property.”; (2) in the second sentence, by inserting “of money” after “bequests”; (3) in the third sentence, by striking “enter them” and inserting “enter the gift, bequest, or proceeds”; and (4) by inserting after the second sentence the following new sentence: “In the case of a gift of securities, the Librarian shall sell the gift and provide the donor with such acknowledgment as needed for the donor to substantiate the gift.”. (b) Effective Date.—The amendments made by this section shall apply with respect to fiscal year 2022 and each succeeding fiscal year.