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2 U.S.C. § 149aPermitting use of proceeds from disposition of surplus or obsolete personal property

submitted 15 years ago by Pub. L. 112-74 to r/title-2-THE-CONGRESS · 116 words · no verdicts yet

in plain englishAI-generated · not legal advice

The Librarian of Congress may dispose of surplus or obsolete Library property. Money from these disposals goes back into the Library's operating funds. The Library can then use that money to buy similar property in the same or next fiscal year.

(a) Disposition of property. As long as there's money appropriated for it, the Librarian of Congress may get rid of surplus or obsolete personal property belonging to the Library of Congress. The Librarian can do this by transferring it to another agency, donating it, selling it, trading it in, or using another suitable method. (b) Use of proceeds. Any money the Librarian gets from disposing of that property goes into the funds available for the Library's operations. The Library can spend that money to buy the same or similar property again — but only during the fiscal year the money came in, or the fiscal year right after. (c) Effective date. This law applies starting with fiscal year 2012, and every fiscal year after that.
the actual law source: uscode.house.gov ↗public domain
(a) Disposition of property

Within the limits of available appropriations, the Librarian of Congress may dispose of surplus or obsolete personal property of the Library of Congress by interagency transfer, donation, sale, trade-in, or other appropriate method.

(b) Use of proceeds

Any amounts received by the Librarian of Congress from the disposition of property under subsection (a) shall be credited to the funds available for the operations of the Library of Congress, and shall be available to acquire the same or similar property during the fiscal year in which the amounts are received and the following fiscal year.

(c) Effective date

This section shall apply with respect to fiscal year 2012 and each succeeding fiscal year.

Source credit: (Pub. L. 112–74, div. G, title I, § 1304, Dec. 23, 2011, 125 Stat. 1132.)

history & why it existsrecord from the source credit
  • 2011Enacted · Pub. L. 112-74 · 125 Stat. 1132

A history note hasn’t been published yet. The record shows enactment by Pub. L. 112-74 on 2011-12-23.

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