To amend the Act of July 3, 1890, to provide for the granting to a State of a parcel of land for use as an agricultural college and to proscribe the use of earnings and proceeds thereof.

Allows the state of Idaho, notwithstanding provisions of the First Morrill Act, to: (1) invest and manage earnings and proceeds derived from land granted for use as an agricultural college in accordance with the standards applicable to a trustee under Idaho law; (2) deduct from earnings and proceeds generated from granted land any expenses that a trustee is authorized to deduct pursuant to Idaho law; and (3) use earnings and proceeds generated by the granted land for any uses and purposes described in that Act without regard to limitations prohibiting the state from exceeding 10% on the purchase of land and from purchasing, erecting, preserving, or repairing buildings.

[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2732 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 2732

  To amend the Act of July 3, 1890, to provide for the granting to a 
  State of a parcel of land for use as an agricultural college and to 
          proscribe the use of earnings and proceeds thereof.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 14, 2007

 Mr. Simpson introduced the following bill; which was referred to the 
 Committee on Agriculture, and in addition to the Committee on Natural 
 Resources, for a period to be subsequently determined by the Speaker, 
 in each case for consideration of such provisions as fall within the 
                jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
  To amend the Act of July 3, 1890, to provide for the granting to a 
  State of a parcel of land for use as an agricultural college and to 
          proscribe the use of earnings and proceeds thereof.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. AGRICULTURAL COLLEGE LAND GRANT.

    (a) In General.--Section 10 of the Act of July 3, 1890 (26 Stat. 
215, chapter 656) is amended to read as follows:

``SEC. 10. AGRICULTURAL COLLEGE LAND GRANT.

    ``(a) In General.--A quantity of land equaling 90,000 acres, to be 
selected and located in accordance with section 4, is granted to said 
State to use for, and in support of, an agricultural college in said 
State, as provided in the Acts of Congress making donations for land 
for those purposes.
    ``(b) Exception.--Notwithstanding sections 3 through 5 of the Act 
of July 2, 1862 (commonly known as the `First Morrill Act') (7 U.S.C. 
303 et seq.), the State of Idaho may--
            ``(1) invest and manage earnings and proceeds derived from 
        land granted to the State of Idaho pursuant to subsection (a), 
        in accordance with the standards applicable to a trustee under 
        Idaho law;
            ``(2) deduct from earnings and proceeds generated from 
        granted land any expenses that a trustee is authorized to 
        deduct pursuant to Idaho law; and
            ``(3) use earnings and proceeds generated by the granted 
        land for any uses and purposes described in that Act (7 U.S.C. 
        301 et seq.) without regard to the limitations set out in 
        section 5 of that Act (7 U.S.C. 305) that prohibit the State 
        from exceeding 10 per centum on the purchase of land and 
        prohibit the State from purchasing, erecting, preserving, or 
        repairing of any building or buildings.''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
take effect on October 27, 1998.
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