Amends Federal law to: (1) add four persons appointed by the Speaker of the House of Representatives for a five-year term each and four persons appointed by the Senate Majority Leader for a five-year term each, to the Library of Congress Trust Fund Board; and (2) increase from three to nine the quorum required for the Board to transact business.
Authorizes the Librarian of Congress to take temporary possession, pending approval, of a gift of money or securities to the Library if conditions attached by the donor require expedited action. Prohibits a gift of securities from being invested or reinvested. Requires any investment or reinvestment of a gift of money to be made in an interest-bearing obligation of or guaranteed by the United States. Requires the return of the gift principal to the donor if the gift is not approved, and makes any income earned during the approval period available for use by the Library.
Referred to the Subcommittee on Libraries and Memorials.
Introduced in Senate
Read twice and referred to the Committee on Rules.
Senate Committee on Rules discharged by Unanimous Consent.
Senate Committee on Rules discharged by Unanimous Consent.
Passed/agreed to in Senate: Passed Senate without amendment by Voice Vote.
Passed Senate without amendment by Voice Vote.
Received in the House.
Referred to the House Committee on House Administration.
Message on Senate action sent to the House.
Referred to the Subcommittee on Libraries and Memorials.
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