−CITE− 20 USC CHAPTER 59 − BARRY GOLDWATER SCHOLARSHIP AND EXCELLENCE IN EDUCATION PROGRAM 01/06/03 −EXPCITE− TITLE 20 − EDUCATION CHAPTER 59 − BARRY GOLDWATER SCHOLARSHIP AND EXCELLENCE IN EDUCATION PROGRAM . −HEAD− CHAPTER 59 − BARRY GOLDWATER SCHOLARSHIP AND EXCELLENCE IN EDUCATION PROGRAM −MISC1− Sec. 4701. Findings. 4702. Definitions. 4703. Establishment of Barry Goldwater Scholarship and Excellence in Education Foundation. (a) Establishment. (b) Board of Trustees. (c) Term of office. (d) Travel and subsistence pay. 4704. Barry Goldwater scholarship and excellence in education awards. (a) Award of scholarships and fellowships. (b) Barry Goldwater Scholars.

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(c) Award of honoraria to volunteers. 4705. Stipends. 4706. Scholarship conditions. (a) In general. (b) Reports. 4707. Barry Goldwater Scholarship and Excellence in Education Fund. (a) Establishment of fund. (b) Investment of fund assets. (c) Authority to sell obligations. (d) Proceeds from certain transactions credited to fund. 4708. Expenditures from fund. (a) In general. (b) Audits by GAO. 4709. Executive Secretary. (a) Appointment by Board. (b) Compensation. 4710. Administrative provisions. (a) In general. (b) Annual report. 4711. Authorization of appropriations. −CITE− 20 USC Sec. 4701 01/06/03 −EXPCITE− TITLE 20 − EDUCATION CHAPTER 59 − BARRY GOLDWATER SCHOLARSHIP AND EXCELLENCE IN

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EDUCATION PROGRAM −HEAD− Sec. 4701. Findings −STATUTE− The Congress makes the following findings: (1) Senator Barry Goldwater of the State of Arizona has served his country for 56 years as a soldier and statesman, including service in the United States Senate for a period of 30 years. (2) Senator Goldwater has a distinguished record as a Senator, including service as Chairman of the Select Committee on Intelligence of the Senate and as Chairman of the Committee on Armed Services of the Senate. (3) Senator Goldwater has long maintained a special interest in the education of America's youth, particularly in the fields of science and mathematics. (4) It would, therefore, be a fitting tribute to the leadership, courage, and vision of Senator Goldwater to establish in his name a scholarship program to foster and encourage excellence in science and mathematics. −SOURCE− (Pub. L. 99−661, div. A, title XIV, Sec. 1402, Nov. 14, 1986, 100 Stat. 4008.) −MISC1− SHORT TITLE Section 1401 of title XIV of div. A of Pub. L. 99−661 provided that: ''This title (enacting this chapter) may be cited as the

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'Barry Goldwater Scholarship and Excellence in Education Act'.'' −CITE− 20 USC Sec. 4702 01/06/03 −EXPCITE− TITLE 20 − EDUCATION CHAPTER 59 − BARRY GOLDWATER SCHOLARSHIP AND EXCELLENCE IN EDUCATION PROGRAM −HEAD− Sec. 4702. Definitions −STATUTE− In this chapter: (1) The term ''Foundation'' means the Barry Goldwater Scholarship and Excellence in Education Foundation established under section 4703(a) of this title. (2) The term ''Board'' means the Board of Trustees of the Barry Goldwater Scholarship and Excellence in Education Foundation established under section 4703(b) of this title. (3) The term ''fund'' means the Barry Goldwater Scholarship and Excellence in Education Fund provided for under section 4707 of this title. (4) The term ''institution of higher education'' means any such institution as defined in section 1001 of this title. (5) The term ''State'' means each of the several States, the District of Columbia, the Commonwealth of Puerto Rico, and, considered as a single entity, Guam, the Virgin Islands, American Samoa, the Trust Territories of the Pacific Islands, and the

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Commonwealth of the Northern Marianas. (6) The term ''eligible person'' means a citizen or national of the United States or a permanent resident alien of the United States. −SOURCE− (Pub. L. 99−661, div. A, title XIV, Sec. 1403, Nov. 14, 1986, 100 Stat. 4008; Pub. L. 105−244, title I, Sec. 102(a)(6)(H), Oct. 7, 1998, 112 Stat. 1618.) −MISC1− AMENDMENTS 1998 − Par. (4). Pub. L. 105−244 substituted ''section 1001'' for ''section 1141(a)''. EFFECTIVE DATE OF 1998 AMENDMENT Amendment by Pub. L. 105−244 effective Oct. 1, 1998, except as otherwise provided in Pub. L. 105−244, see section 3 of Pub. L. 105−244, set out as a note under section 1001 of this title. −TRANS− TERMINATION OF TRUST TERRITORY OF THE PACIFIC ISLANDS For termination of Trust Territory of the Pacific Islands, see note set out preceding section 1681 of Title 48, Territories and Insular Possessions. −CITE− 20 USC Sec. 4703 01/06/03 −EXPCITE− TITLE 20 − EDUCATION CHAPTER 59 − BARRY GOLDWATER SCHOLARSHIP AND EXCELLENCE IN

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EDUCATION PROGRAM −HEAD− Sec. 4703. Establishment of Barry Goldwater Scholarship and Excellence in Education Foundation −STATUTE− (a) Establishment There is established, as an independent establishment of the executive branch of the United States Government, the Barry Goldwater Scholarship and Excellence in Education Foundation. (b) Board of Trustees The Foundation shall be subject to the supervision and direction of the Board of Trustees. The Board shall be composed of 13 members, as follows: (1) Two members from the Senate, one appointed by the majority leader and one appointed by the minority leader of the Senate. (2) Two members from the House of Representatives, one appointed by the majority leader and one appointed by the minority leader of the House of Representatives. (3) Eight members, not more than four of whom shall be of the same political party, to be appointed by the President, by and with the advice and consent of the Senate. (4) The Secretary of Education, or his designee, who shall serve ex officio as a member of the Board but shall not be eligible to serve as Chairman. (c) Term of office (1) The term of office of each member of the Board shall be six

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years, except that − (A) the members first taking office shall serve as designated by the President, four for terms of two years, five for terms of four years, and four for terms of six years; (B) a member appointed to fill a vacancy shall serve for the remainder of the term for which his predecessor was appointed and shall be appointed in the same manner as the original appointment for that vacancy was made; and (C) notwithstanding the term limitation provided for under this paragraph, a member appointed under subsection (b) of this section may continue to serve under such appointment until the successor to the member is appointed. (2) A Member of Congress appointed to the Board under clause (1) or (2) of subsection (b) of this section may not serve as a member of the Board for more than a total of six years. (d) Travel and subsistence pay Members of the Board shall serve without pay, but shall be entitled to reimbursement for travel, subsistence, and other necessary expenses incurred in the performance of their duties. −SOURCE− (Pub. L. 99−661, div. A, title XIV, Sec. 1404, Nov. 14, 1986, 100 Stat. 4008; Pub. L. 100−26, Sec. 3(10), Apr. 21, 1987, 101 Stat. 274; Pub. L. 102−190, div. A, title X, Sec. 1089(1), Dec. 5, 1991, 105 Stat. 1485; Pub. L. 103−160, div. A, title XI, Sec. 1179(a), Nov. 30, 1993, 107 Stat. 1770.) −MISC1−

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AMENDMENTS 1993 − Subsec. (c)(1)(C). Pub. L. 103−160 added subpar. (C). 1991 − Subsec. (b)(3). Pub. L. 102−190 struck out before period at end '', at least one of whom shall be a representative of the aerospace industry and at least one of whom shall be a representative of a private foundation concerned with aerospace education''. 1987 − Subsec. (c)(2). Pub. L. 100−26 substituted ''clause (1) or (2)'' for ''clause (2) or (3)''. EFFECTIVE DATE OF 1987 AMENDMENT Amendment by Pub. L. 100−26 applicable as if included in Pub. L. 99−661 when enacted on Nov. 14, 1986, see section 12(a) of Pub. L. 100−26, set out as a note under section 776 of Title 10, Armed Forces. −SECREF− SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in section 4702 of this title. −CITE− 20 USC Sec. 4704 01/06/03 −EXPCITE− TITLE 20 − EDUCATION CHAPTER 59 − BARRY GOLDWATER SCHOLARSHIP AND EXCELLENCE IN EDUCATION PROGRAM −HEAD− Sec. 4704. Barry Goldwater scholarship and excellence in education awards

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−STATUTE− (a) Award of scholarships and fellowships (1) The Foundation may award scholarships and fellowships to eligible persons for study in the fields of science and mathematics. Such scholarships and fellowships shall be awarded to persons as provided in this chapter who meet the minimum criteria established by the Foundation. (2) Scholarships shall be awarded to outstanding undergraduate students who intend to pursue careers in mathematics and the natural sciences. (3) Fellowships shall be awarded to outstanding graduate students who intend to pursue advanced degrees in mathematics and the natural sciences. (4) The Foundation may provide, directly or by contract, for the conduct of nationwide competition for the purpose of selecting recipients of scholarships and fellowships awarded under this chapter. (b) Barry Goldwater Scholars Recipients of scholarships and fellowships under this chapter shall be known as ''Barry Goldwater Scholars''. (c) Award of honoraria to volunteers (1) The Foundation may award honoraria to outstanding educators, teachers, and persons who have volunteered to assist in secondary schools who have made significant contributions to improve the quality of instruction in mathematics and sciences in the secondary school. To the extent the Board determines such action

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practicable, honoraria awarded under this subsection shall be awarded annually to persons described in the preceding sentence as follows: (A) To two persons selected at large from each State. (B) To one person selected from each county in each State. (C) To persons affiliated with secondary schools on military reservations. (D) To persons affiliated with the dependent overseas school system. (2) The Board shall establish a schedule of honoraria to be awarded under paragraph (1). −SOURCE− (Pub. L. 99−661, div. A, title XIV, Sec. 1405, Nov. 14, 1986, 100 Stat. 4009.) −CITE− 20 USC Sec. 4705 01/06/03 −EXPCITE− TITLE 20 − EDUCATION CHAPTER 59 − BARRY GOLDWATER SCHOLARSHIP AND EXCELLENCE IN EDUCATION PROGRAM −HEAD− Sec. 4705. Stipends −STATUTE− Each person awarded a scholarship or fellowship under this chapter shall receive a stipend which shall not exceed the cost to such person for tuition, fees, books, room and board, or such

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lesser amount as may be prescribed by the Board. −SOURCE− (Pub. L. 99−661, div. A, title XIV, Sec. 1406, Nov. 14, 1986, 100 Stat. 4010.) −CITE− 20 USC Sec. 4706 01/06/03 −EXPCITE− TITLE 20 − EDUCATION CHAPTER 59 − BARRY GOLDWATER SCHOLARSHIP AND EXCELLENCE IN EDUCATION PROGRAM −HEAD− Sec. 4706. Scholarship conditions −STATUTE− (a) In general A person awarded a scholarship under this chapter may receive payments authorized under this chapter only during such periods as the Foundation finds that the person is maintaining satisfactory proficiency and devoting full time to study or research and is not engaging in gainful employment other than employment approved by the Foundation pursuant to regulations of the Board. (b) Reports The Foundation may require reports containing such information in such form and to be filed at such times as the Foundation determines to be necessary from any person awarded a scholarship under this chapter. Such reports shall be accompanied by a certificate from an appropriate official at the institution of

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higher education, approved by the Foundation, stating that such person is making satisfactory progress in, and is devoting essentially full time to study or research, except as otherwise provided in subsection (a) of this section. −SOURCE− (Pub. L. 99−661, div. A, title XIV, Sec. 1407, Nov. 14, 1986, 100 Stat. 4010.) −CITE− 20 USC Sec. 4707 01/06/03 −EXPCITE− TITLE 20 − EDUCATION CHAPTER 59 − BARRY GOLDWATER SCHOLARSHIP AND EXCELLENCE IN EDUCATION PROGRAM −HEAD− Sec. 4707. Barry Goldwater Scholarship and Excellence in Education Fund −STATUTE− (a) Establishment of fund There is established in the Treasury of the United States a trust fund to be known as the Barry Goldwater Scholarship and Excellence in Education Fund. The fund shall consist of amounts appropriated to it pursuant to section 4711 of this title and amounts credited to it under subsection (d) of this section. (b) Investment of fund assets It shall be the duty of the Secretary of the Treasury to invest in full the amounts appropriated to the fund. Such investments may

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be made only in public debt securities of the United States with maturities suitable to the fund. For such purpose, such obligations may be acquired (1) on original issue at the issue price, or (2) by purchase of outstanding obligations at the market place. The purposes for which obligations of the United States may be issued under chapter 31 of title 31 are hereby extended to authorize the issuance at par of special obligations exclusively to the fund. Such special obligations shall bear interest at a rate equal to the average rate of interest, computed as to the end of the calendar month next preceding the date of such issue, borne by all marketable interest−bearing obligations of the United States then forming a part of the public debt, except that where such average rate is not a multiple of 1/8 of 1 percent, the rate of interest of such special obligations shall be the multiple of 1/8 of 1 percent next lower than such average rate. Such special obligations shall be issued only if the Secretary determines that the purchases of other interest−bearing obligations of the United States, or of obligations guaranteed as to both principal and interest by the United States or original issue or at the market price, is not in the public interest. (c) Authority to sell obligations Any obligation acquired by the fund may be sold by the Secretary at the market price. (d) Proceeds from certain transactions credited to fund The interest on, and the proceeds from the sale or redemption of, any obligations held in the fund shall be credited to and form a

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part of the fund. −SOURCE− (Pub. L. 99−661, div. A, title XIV, Sec. 1408, Nov. 14, 1986, 100 Stat. 4010; Pub. L. 102−190, div. A, title X, Sec. 1089(2), Dec. 5, 1991, 105 Stat. 1485; Pub. L. 102−484, div. A, title X, Sec. 1054(h), Oct. 23, 1992, 106 Stat. 2503.) −COD− CODIFICATION In subsec. (b), ''chapter 31 of title 31'' substituted for ''the Second Liberty Bond Act'' on authority of Pub. L. 97−258, Sec. 4(b), Sept. 13, 1982, 96 Stat. 1067, the first section of which enacted Title 31, Money and Finance. −MISC3− AMENDMENTS 1992 − Subsec. (c). Pub. L. 102−484 struck out ''(except special obligations issued exclusively to the fund)'' after ''by the fund''. 1991 − Subsec. (b). Pub. L. 102−190, Sec. 1089(2)(A), substituted ''public debt securities of the United States with maturities suitable to the fund.'' for ''interest−bearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States.'' Subsec. (c). Pub. L. 102−190, Sec. 1089(2)(B)(ii), struck out '', and such special obligations may be redeemed at par plus accrued interest'' after ''market price''. Pub. L. 102−190, Sec. 1089(2)(B)(i), which directed striking out

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of ''(exceptional special obligations issued exclusively to the fund)'', could not be executed because those words did not appear. See 1992 Amendment note above. −SECREF− SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in section 4702 of this title. −CITE− 20 USC Sec. 4708 01/06/03 −EXPCITE− TITLE 20 − EDUCATION CHAPTER 59 − BARRY GOLDWATER SCHOLARSHIP AND EXCELLENCE IN EDUCATION PROGRAM −HEAD− Sec. 4708. Expenditures from fund −STATUTE− (a) In general The Secretary of the Treasury may pay to the Foundation from the interest and earnings of the fund such sums as the Board determines are necessary and appropriate to enable the Foundation to carry out the purposes of this chapter. (b) Audits by GAO The activities of the Foundation under this chapter may be audited by the General Accounting Office under such rules and regulations as may be prescribed by the Comptroller General of the United States. Representatives of the General Accounting Office shall have access to all books, accounts, records, reports, and

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files and all other papers, things, or property belonging to or in use by the Foundation pertaining to such activities and necessary to facilitate the audit. −SOURCE− (Pub. L. 99−661, div. A, title XIV, Sec. 1409, Nov. 14, 1986, 100 Stat. 4011.) −CITE− 20 USC Sec. 4709 01/06/03 −EXPCITE− TITLE 20 − EDUCATION CHAPTER 59 − BARRY GOLDWATER SCHOLARSHIP AND EXCELLENCE IN EDUCATION PROGRAM −HEAD− Sec. 4709. Executive Secretary −STATUTE− (a) Appointment by Board There shall be an Executive Secretary of the Foundation who shall be appointed by the Board. The Executive Secretary shall be the chief executive officer of the Foundation and shall carry out the functions of the Foundation subject to the supervision and direction of the Board. The Executive Secretary shall carry out such other functions consistent with the provisions of this chapter as the Board shall prescribe. (b) Compensation The Executive Secretary of the Foundation shall serve as a noncareer appointee of the Senior Executive Service and shall be

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compensated at a rate determined by the Board in accordance with section 5383 of title 5. −SOURCE− (Pub. L. 99−661, div. A, title XIV, Sec. 1410, Nov. 14, 1986, 100 Stat. 4011; Pub. L. 102−190, div. A, title X, Sec. 1089(3), Dec. 5, 1991, 105 Stat. 1485.) −MISC1− AMENDMENTS 1991 − Subsec. (b). Pub. L. 102−190 substituted ''serve as a noncareer appointee of the Senior Executive Service and shall be compensated at a rate determined by the Board in accordance with section 5383'' for ''be compensated at the rate specified for employees in grade GS−18 of the General Schedule under section 5332''. −CITE− 20 USC Sec. 4710 01/06/03 −EXPCITE− TITLE 20 − EDUCATION CHAPTER 59 − BARRY GOLDWATER SCHOLARSHIP AND EXCELLENCE IN EDUCATION PROGRAM −HEAD− Sec. 4710. Administrative provisions −STATUTE− (a) In general In order to carry out this chapter, the Foundation may − (1) appoint and fix the compensation of such personnel as may

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be necessary to carry out the provisions of this chapter, except that in no case may an employee other than the Executive Secretary be compensated at a rate to exceed the maximum rate provided for employees in grade GS−15 of the General Schedule under section 5332 of title 5; (2) procure temporary and intermittent services of experts and consultants as are necessary to the extent authorized by section 3109 of title 5, but at rates not to exceed the rate specified at the time of such service for grade GS−18 under section 5332 of such title; (3) prescribe such regulations as it considers necessary governing the manner in which its functions shall be carried out; (4) receive money and other property donated, bequeathed, or devised, without condition or restriction other than it be used for the purposes of the Foundation, and to use, sell, or otherwise dispose of such property for the purpose of carrying out its functions; (5) accept and use the services of voluntary and noncompensated personnel and for travel expenses, including per diem, as authorized by section 5703 of title 5; (6) enter into contracts or other arrangements, or make grants, to carry out the provisions of this chapter, and enter into such contracts or other arrangements, or make such grants, with the concurrence of two−thirds of the members of the Board, without performance or other bonds and without regard to section 5 of title 41;

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(7) rent office space in the Washington, District of Columbia, metropolitan area; and (8) make other necessary expenditures. (b) Annual report The Foundation shall submit to the President and to Congress an annual report of its operations under this chapter. −SOURCE− (Pub. L. 99−661, div. A, title XIV, Sec. 1411, Nov. 14, 1986, 100 Stat. 4011; Pub. L. 103−160, div. A, title XI, Sec. 1179(b), Nov. 30, 1993, 107 Stat. 1770.) −MISC1− AMENDMENTS 1993 − Subsec. (a)(7). Pub. L. 103−160 substituted ''the Washington, District of Columbia, metropolitan area'' for ''the District of Columbia''. REFERENCES IN OTHER LAWS TO GS−16, 17, OR 18 PAY RATES References in laws to the rates of pay for GS−16, 17, or 18, or to maximum rates of pay under the General Schedule, to be considered references to rates payable under specified sections of Title 5, Government Organization and Employees, see section 529 (title I, Sec. 101(c)(1)) of Pub. L. 101−509, set out in a note under section 5376 of Title 5. −CITE− 20 USC Sec. 4711 01/06/03 −EXPCITE− TITLE 20 − EDUCATION

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CHAPTER 59 − BARRY GOLDWATER SCHOLARSHIP AND EXCELLENCE IN EDUCATION PROGRAM −HEAD− Sec. 4711. Authorization of appropriations −STATUTE− There is hereby authorized to be appropriated to the fund $40,000,000 to carry out this chapter. −SOURCE− (Pub. L. 99−661, div. A, title XIV, Sec. 1412, Nov. 14, 1986, 100 Stat. 4012.) −SECREF− SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in section 4707 of this title. −CITE−

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