§2011. Provisions relating to competitive products — Inbound Citations

Code of Federal Regulations Citations

Cited by 3 regulations in the Code of Federal Regulations.

• 39 C.F.R. § 3060.1 — Scope.

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  The rules in this part are applicable to the Postal Service's theoretical competitive products enterprise developed pursuant to 39 U.S.C. 2011 and 3634 and to the Postal Service's obligation to calculate annually an assumed Federal income tax on competitive products income and transfer annually any such assumed Federal income tax due from the Competitive Products Fund to the Postal Service Fund.

• 39 C.F.R. § 3060.11 — Valuation of assets.

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  For the purposes of 39 U.S.C. 2011, the total assets of the Postal Service theoretical competitive products enterprise are the greater of:

• 39 C.F.R. § 3060.24 — Competitive products fund report.

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  Within 90 days of the close of each fiscal year the Postal Service will provide the most recent report of the activity of the Competitive Products Fund as provided to the Secretary of the Treasury under 39 U.S.C. 2011(i)(1).

Citations to 39 U.S.C. § 2011 as a whole

• 39 U.S.C. § 2001(2)

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  (2) The term “Competitive Products Fund” means the Postal Service Competitive Products Fund established by section 2011; and

• 39 U.S.C. § 2003(b)

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  (b) Except as otherwise provided in section 2011, there shall be deposited in the Fund, subject to withdrawal by check by the Postal Service—

  (1) revenues from postal and nonpostal services rendered by the Postal Service;

  (2) amounts received from obligations issued by the Postal Service;

  (3) amounts appropriated for the use of the Postal Service;

  (4) interest which may be earned on investments of the Fund;

  (5) any other receipts of the Postal Service;

  (6) the balance in the Post Office Department Fund established under former section 2202 of title 39) as of the commencement of operations of the Postal Service;

  (7) amounts (including proceeds from the sale of forfeited items) from any civil forfeiture conducted by the Postal Service;

  (8) any transfers from the Secretary of the Treasury from the Department of the Treasury Forfeiture Fund which shall be available to the Postmaster General only for Federal law enforcement related purposes; and

  (9) any amounts collected under section 3018.

• 39 U.S.C. § 2005(a)(1)

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  (1) The Postal Service is authorized to borrow money and to issue and sell such obligations as it determines necessary to carry out the purposes of this title, other than any of the purposes for which the corresponding authority is available to the Postal Service under section 2011. The aggregate amount of obligations issued by the Postal Service which may be outstanding at any one time shall not exceed the maximum amount then allowable under paragraph (2) of this subsection. In any one fiscal year, the net increase in the amount of obligations outstanding issued for the purpose of capital improvements and the net increase in the amount of obligations outstanding issued for the purpose of defraying operating expenses of the Postal Service shall not exceed a combined total of $3,000,000,000.

• 39 U.S.C. § 2005(a)(3)

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  (3) For purposes of applying the respective limitations under this subsection, the aggregate amount of obligations issued by the Postal Service which are outstanding as of any one time, and the net increase in the amount of obligations outstanding issued by the Postal Service for the purpose of capital improvements or for the purpose of defraying operating expenses of the Postal Service in any fiscal year, shall be determined by aggregating the relevant obligations issued by the Postal Service under this section with the relevant obligations issued by the Postal Service under section 2011.

• 39 U.S.C. § 2006(a)

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  (a) At least 15 days before selling any issue of obligations under section 2005 or 2011 of this title, the Postal Service shall advise the Secretary of the Treasury of the amount, proposed date of sale, maturities, terms and conditions, and expected maximum rates of interest of the proposed issue in appropriate detail and shall consult with him or his designee thereon. The Secretary may elect to purchase such obligations under such terms, including rates of interest, as he and the Postal Service may agree, but at a rate of yield no less than the prevailing yield on outstanding marketable Treasury securities of comparable maturity, as determined by the Secretary. If the Secretary does not purchase such obligations, the Postal Service may proceed to issue and sell them to a party or parties other than the Secretary upon notice to the Secretary and upon consultation as to the date of issuance, maximum rates of interest, and other terms and conditions.

• 39 U.S.C. § 3662(d)

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  (d) In addition, in cases of deliberate noncompliance by the Postal Service with the requirements of this title, the Postal Regulatory Commission may order, based on the nature, circumstances, extent, and seriousness of the noncompliance, a fine (in the amount specified by the Commission in its order) for each incidence of noncompliance. Fines resulting from the provision of competitive products shall be paid from the Competitive Products Fund established in section 2011. All receipts from fines imposed under this subsection shall be deposited in the general fund of the Treasury of the United States.

Citations to §2011(e)(4)(E)

• 39 U.S.C. § 2006(c)

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  (c) Notwithstanding section 2005(d)(5) or 2011(e)(4)(E) of this title, obligations issued by the Postal Service shall be obligations of the Government of the United States, and payment of principal and interest thereon shall be fully guaranteed by the Government of the United States, such guaranty being expressed on the face thereof, if and to the extent that—

  (1) the Postal Service requests the Secretary of the Treasury to pledge the full faith and credit of the Government of the United States for the payment of principal and interest thereon; and

  (2) the Secretary, in his discretion, determines that it would be in the public interest to do so.

Citations to §2011(g)

• 39 U.S.C. § 409(h)

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  (h) A judgment against the Government of the United States arising out of activities of the Postal Service shall be paid by the Postal Service out of any funds available to the Postal Service, subject to the restriction specified in section 2011(g).

Citations to §2011(h)

• 39 U.S.C. § 2005(b)(2)(A)

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  (A) the authority to pledge assets of the Postal Service under this subsection shall be available only to the extent that such assets are not related to the provision of competitive products (as determined under section 2011(h) or, for purposes of any period before accounting practices and principles under section 2011(h) have been established and applied, the best information available from the Postal Service, including the audited statements required by section 2008(e)); and

• 39 U.S.C. § 3634(a)(2)(A)

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  (A) the only activities of such corporation were the activities of the Postal Service allocable under section 2011(h) to competitive products; and

• 39 U.S.C. § 3634(a)(2)(B)

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  (B) the only assets held by such corporation were the assets of the Postal Service allocable under section 2011(h) to such activities.