2019 US Code
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
| 40 U.S.C. § 604 (2019) | |||||||||
| §604. Treatment of assets taken over to establish motor vehicle pools and transportation systems | |||||||||
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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. |
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(Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1122; Pub. L. 109–313, §3(h)(5), Oct. 6, 2006, 120 Stat. 1736.) |
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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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| United States Code, 2018 Edition, Supplement 1, Title 40 - PUBLIC BUILDINGS, PROPERTY, AND WORKS | |||||||||
| Bills and Statutes | |||||||||
| United States Code | |||||||||
| Y 1.2/5: | |||||||||
| 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 |
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| section 604 | |||||||||
| 2019 | |||||||||
| January 24, 2020 | |||||||||
| Yes | |||||||||
| standard | |||||||||
| 64 Stat. 583 68 Stat. 1128 116 Stat. 1122 120 Stat. 1736 |
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| Public Law 107-217, Public Law 109-313 |
