ALLcrimesfood&drugstaxestelecomcommercehealthconservationtransportationagricultureveteransbrowse all titles »
0

49 U.S.C. § 328Transportation Systems Center working capital fund

submitted 43 years ago by Pub. L. 97-449 to r/title-49-TRANSPORTATION · 283 words · no verdicts yet

in plain englishAI-generated · not legal advice

The Department of Transportation runs a working capital fund for its Transportation Systems Center. It pays for research, testing, and related work for the Department, other agencies, and outside groups. The fund is repaid in advance for services, and leftover money goes to the Treasury each year.

(a) The Department of Transportation has a Transportation Systems Center working capital fund. It pays for the Center's activities — research, development, testing, evaluation, analysis, and related work the Secretary approves — done for the Department itself, other agencies, state and local governments, other public authorities, private organizations, and foreign countries. (b) Money in the fund doesn't expire at the end of a fiscal year, and Congress can appropriate more into it. (c) The fund's starting capital comes from: money appropriated to it; the Center's net assets as of October 1, 1980, including advances for valid obligations made before that date; the value of property and other assets transferred to the fund after September 30, 1980 (minus related debts); and the value of property and assets donated to the fund. (d) The fund gets reimbursed or credited from: advance payments from the Department's or other agencies' funds, or from other sources the Secretary allows, covering the cost of services (including accrued leave and overhead) and the cost of buying property and equipment under the Secretary's rules; and money from selling or trading property, or from payment for lost or damaged fund property. (e) At the end of each fiscal year, the Secretary must deposit any fund money the Secretary decides is more than the fund needs into the Treasury as miscellaneous receipts.
the actual law source: uscode.house.gov ↗public domain
(a)

The Department of Transportation has a Transportation Systems Center working capital fund. Amounts in the fund are available for financing the activities of the Center, including research, development, testing, evaluation, analysis, and related activities the Secretary of Transportation approves, for the Department, other agencies, State and local governments, other public authorities, private organizations, and foreign countries.

(b)

Amounts in the fund are available without regard to fiscal year limitation. Amounts may be appropriated to the fund.

(c)

The capital of the fund consists of—

(1)

amounts appropriated to the fund;

(2)

net assets of the Center as of October 1, 1980, including unexpended advances made to the Center for which valid obligations were incurred before October 1, 1980;

(3)

the reasonable value of property and other assets transferred to the fund after September 30, 1980, less the related liabilities and unpaid obligations; and

(4)

the reasonable value of property and other assets donated to the fund.

(d)

The fund shall be reimbursed or credited with—

(1)

advance payments from applicable funds or appropriations of the Department and other agencies, and with advance payments from other sources, the Secretary authorizes, for—

(A)

services at rates that will recover the expenses of operation, including the accrual of annual leave and overhead; and

(B)

acquiring property and equipment under regulations the Secretary prescribes; and

(2)

receipts from the sale or exchange of property or in payment for loss or damage of property held by the fund.

(e)

The Secretary shall deposit at the end of each fiscal year, in the Treasury as miscellaneous receipts, amounts accruing in the fund that the Secretary decides are in excess of the needs of the fund.

Source credit: (Pub. L. 97–449, § 1(b), Jan. 12, 1983, 96 Stat. 2425.)

history & why it existsrecord from the source credit
  • 1983Enacted · Pub. L. 97-449 · 96 Stat. 2425

A history note hasn’t been published yet. The record shows enactment by Pub. L. 97-449 on 1983-01-12.

all 0 arguments · sorted by: best

0/280

no arguments yet — make the first case