Public money, property or records
Official text prohibited actmental stateif conditionpenaltylegal term
Whoever , steals, purloins, or knowingly converts to his use or the use of another, or without authority, sells, conveys or disposes of any record, voucher, money, or of the United States or of any department or agency thereof, or any property made or being made under contract for the United States or any department or agency thereof; or
Whoever receives, conceals, or retains the same with intent to convert it to his use or gain, knowing it to have been embezzled, stolen, purloined or converted—
Shall be or imprisoned not more than ten years, or both; but if the value of such property in the aggregate, combining amounts from all the counts for which the defendant is convicted in a single case, does not exceed the sum of $1,000, he shall be or imprisoned not more than one year, or both.
The word "value" means face, par, or market value, or cost price, either wholesale or retail, whichever is greater.
History: (June 25, 1948, ch. 645, 62 Stat. 725 (PDF, 39 MB); Pub. L. 103–322, title XXXIII, §330016(1)(H), (L), Sept. 13, 1994, 108 Stat. 2147 (PDF, 52 MB); Pub. L. 104–294, title VI, §606(a), Oct. 11, 1996, 110 Stat. 3511; Pub. L. 108–275, §4, July 15, 2004, 118 Stat. 833.)
Simplified explanation
It is a federal crime to steal, embezzle (take money or property you were trusted with), or knowingly misuse or sell without permission money, records, or property of the U.S. government. It is also a crime to receive or keep such property knowing it was stolen, intending to use it for gain.