10 U.S.C. § 8704 — Disposition of receipts

submitted 30 years ago by Pub. L. 104-106 to r/title-10-ARMED-FORCES · 50 words · no verdicts yet

in plain englishAI-generated · not legal advice

Money the Navy collects under this chapter goes toward funding naval salvage facilities. Any amount collected in a fiscal year that's more than that year's naval salvage costs instead goes into the Treasury's general fund.

Amounts received under this chapter are credited to the appropriations that maintain naval salvage facilities. However, if in any fiscal year the Navy receives more money under this chapter than it spent that year on naval salvage costs, the extra amount is deposited into the general fund of the Treasury instead.

the actual law source: uscode.house.gov ↗public domain

Amounts received under this chapter shall be credited to appropriations for maintaining naval salvage facilities. However, any amount received under this chapter in any fiscal year in excess of naval salvage costs incurred by the Navy during that fiscal year shall be deposited into the general fund of the Treasury.

Source credit: (Added Pub. L. 104–106, div. A, title X, § 1015, Feb. 10, 1996, 110 Stat. 425, § 7364; renumbered § 8704, Pub. L. 115–232, div. A, title VIII, § 807(d)(3), Aug. 13, 2018, 132 Stat. 1836.)

history & why it existsrecord from the source credit

1996Enacted · Pub. L. 104-106 · 110 Stat. 425
2018Amended · Pub. L. 115-232 · 132 Stat. 1836

A history note hasn’t been published yet. The record shows enactment by Pub. L. 104-106 on 1996-02-10.

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