40 U.S.C. § 604 — Treatment of assets taken over to establish motor vehicle pools and transportation systems
submitted 24 years ago by Pub. L. 107-217 to r/title-40-PUBLIC-BUILDINGS-PROPERTY-AND-WORKS · 219 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
When the Administrator of General Services takes over motor vehicles or related equipment or supplies under section 602 of this title, reimbursement is required if the property is taken over from—
a Government corporation; or
an agency, if the agency acquired the property through unreimbursed expenditures made from a revolving or trust fund authorized by law.
The Administrator shall reimburse a Government corporation, or a fund through which an agency acquired property, by an amount equal to the fair market value of the property. If the Administrator subsequently returns property of a similar kind under section 610 of this title, the Government corporation or the fund shall reimburse the Administrator by an amount equal to the fair market value of the property returned.
If the Administrator takes over motor vehicles or related equipment or supplies under section 602 of this title but reimbursement is not required under subsection (a), the value of the property taken over, as determined by the Administrator, may be added to the capital of the Acquisition Services Fund. If the Administrator subsequently returns property of a similar kind under section 610 of this title, the value of the property may be deducted from the Fund.
Source credit: (Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1122; Pub. L. 109–313, § 3(h)(5), Oct. 6, 2006, 120 Stat. 1736.)
- 2002Enacted · Pub. L. 107-217 · 116 Stat. 1122
- 2006Amended · Pub. L. 109-313 · 120 Stat. 1736
A history note hasn’t been published yet. The record shows enactment by Pub. L. 107-217 on 2002-08-21.
all 0 arguments · sorted by: best
no arguments yet — make the first case