2015 US Code
Title 40 - Public Buildings, Property, and Works (Sections 101 - 18304)
Subtitle I - Federal Property and Administrative Services (Sections 101 - 1315)
Chapter 5 - Property Management (Sections 501 - 611)
Subchapter VI - Motor Vehicle Pools and Transportation Systems (Sections 601 - 611)
Sec. 604 - Treatment of assets taken over to establish motor vehicle pools and transportation systems
Publication Title | United States Code, 2012 Edition, Supplement 3, Title 40 - PUBLIC BUILDINGS, PROPERTY, AND WORKS |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 40 - PUBLIC BUILDINGS, PROPERTY, AND WORKS SUBTITLE I - FEDERAL PROPERTY AND ADMINISTRATIVE SERVICES CHAPTER 5 - PROPERTY MANAGEMENT SUBCHAPTER VI - MOTOR VEHICLE POOLS AND TRANSPORTATION SYSTEMS Sec. 604 - Treatment of assets taken over to establish motor vehicle pools and transportation systems |
Contains | section 604 |
Date | 2015 |
Laws In Effect As Of Date | January 3, 2016 |
Positive Law | Yes |
Disposition | standard |
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. |
Statutes at Large References | 64 Stat. 583 68 Stat. 1128 116 Stat. 1122 120 Stat. 1736 |
Public and Private Laws | Public Law 107-217, Public Law 109-313 |
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(a) Reimbursement.—
(1) Requirement.—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) a Government corporation; or
(B) an agency, if the agency acquired the property through unreimbursed expenditures made from a revolving or trust fund authorized by law.
(2) Amount.—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.
(b) Addition to Acquisition Services Fund.—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.
(Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1122; Pub. L. 109–313, §3(h)(5), Oct. 6, 2006, 120 Stat. 1736.)
Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
---|---|---|
604(a) | 40:491(g). | June 30, 1949, ch. 288, title II, §211(g), (h), as added Sept. 5, 1950, ch. 849, §5(c), 64 Stat. 583; Sept. 1, 1954, ch. 1211, §2, 68 Stat. 1128. |
604(b) | 40:491(h). |
2006—Subsec. (b). Pub. L. 109–313 substituted "Acquisition Services Fund" for "General Supply Fund" in heading and text.
EFFECTIVE DATE OF 2006 AMENDMENTAmendment by Pub. L. 109–313 effective 60 days after Oct. 6, 2006, see section 6 of Pub. L. 109–313, set out as a note under section 5316 of Title 5, Government Organization and Employees.
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