ALLcrimesfood&drugstaxestelecomcommercehealthconservationtransportationagricultureveteransbrowse all titles »
0

10 U.S.C. § 432Use, disposition, and auditing of funds

submitted 35 years ago by Pub. L. 102-88 to r/title-10-ARMED-FORCES · 172 words · no verdicts yet

in plain englishAI-generated · not legal advice

This law controls money earned by a commercial activity run under this subchapter. The activity can use only what it needs to cover its costs safely. Any extra money must go back to the Treasury. The Defense Department must audit the money every year and report to Congress by December 31.

(a) Use of Funds. A commercial activity set up under this subchapter earns money. That money may be used to pay for necessary and reasonable expenses of running the activity. The law says to spend as little as possible - only what is needed to run the activity safely and securely. Any money left over, beyond what is needed for that purpose, must be deposited into the U.S. Treasury as "miscellaneous receipts." This deposit must happen as often as practical. (b) Audits. (1) The Secretary of Defense must pick one organization inside the Department of Defense to audit these activities. (2) That organization must audit how the money is used and disposed of at least once a year. It must report the results to the congressional defense committees and the congressional intelligence committees (defined in section 437(c) of this title) no later than December 31 each year.
the actual law source: uscode.house.gov ↗public domain
(a)Use of Funds.—

Funds generated by a commercial activity authorized pursuant to this subchapter may be used to offset necessary and reasonable expenses arising from that activity. Use of such funds for that purpose shall be kept to the minimum necessary to conduct the activity concerned in a secure manner. Any funds generated by the activity in excess of those required for that purpose shall be deposited, as often as may be practicable, into the Treasury as miscellaneous receipts.

(b)Audits.—
(1)

The Secretary of Defense shall assign an organization within the Department of Defense to have auditing responsibility with respect to activities authorized under this subchapter.

(2)

That organization shall audit the use and disposition of funds generated by any commercial activity authorized under this subchapter not less often than annually. The results of all such audits shall be reported to the congressional defense committees and the congressional intelligence committees (as defined in section 437(c) of this title) by not later than December 31 of each year.

Source credit: (Added Pub. L. 102–88, title V, § 504(a)(2), Aug. 14, 1991, 105 Stat. 438; amended Pub. L. 113–66, div. A, title IX, § 921(a), Dec. 26, 2013, 127 Stat. 827; Pub. L. 115–91, div. A, title XVI, § 1623, Dec. 12, 2017, 131 Stat. 1732.)

history & why it existsrecord from the source credit
  • 1991Enacted · Pub. L. 102-88 · 105 Stat. 438
  • 2013Amended · Pub. L. 113-66 · 127 Stat. 827
  • 2017Amended · Pub. L. 115-91 · 131 Stat. 1732

A history note hasn’t been published yet. The record shows enactment by Pub. L. 102-88 on 1991-08-14.

all 0 arguments · sorted by: best

0/280

no arguments yet — make the first case