Title 40 › Subtitle SUBTITLE I— - FEDERAL PROPERTY AND ADMINISTRATIVE SERVICES › Chapter CHAPTER 3— - ORGANIZATION OF GENERAL SERVICES ADMINISTRATION › Subchapter SUBCHAPTER III— - FUNDS › § 321
Creates a special Treasury account called the Acquisition Services Fund to pay for buying and managing supplies, equipment, and services for federal agencies. The Fund gets money from transfers, reimbursements, refunds, sales of surplus property, and fees charged to agencies (including fees under section 313). The head of the General Services Administration (the Administrator) figures out each year how much the Fund needs, sets the prices agencies must pay, and makes a plan with the GSA Chief Financial Officer. The Fund can buy personal property, nonpersonal services, and IT-related services; pay purchase and transport costs; cover repair, rehab, and conversion work; and pay other direct and related indirect costs. It can also serve mixed-ownership government corporations, the D.C. government, and certain non-federal agencies when procurement is moved to GSA. Agencies must pay the prices the Administrator sets. Prices must, as far as possible, cover purchase price, transport, inventory losses, repair and IT service costs, equipment amortization and repair, and other allocable costs. The Administrator can require advance payment if the Fund lacks capital and can seek reimbursement if agencies do not pay within 45 days of billing or liability. The Senate and House may repay equipment costs over time. After each fiscal year, once needed inventory, vehicle replacement, and planned needs are set aside, leftover funds go back to the Treasury. The Comptroller General audits the Fund. By September 30 each year the Administrator must report to two congressional committees about Technology Transformation Services programs funded in the past year or past 5 years, including program descriptions, funding amounts, reimbursements, project dates, and supporting data. Definitions: “Administrator” — the head of GSA. “Expenditure” — any Fund obligation for the programs in the report.
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Public Buildings, Property, and Works — Source: USLM XML via OLRC
Legislative History
Reference
Citation
40 U.S.C. § 321
Title 40 — Public Buildings, Property, and Works
Last Updated
Apr 6, 2026
Release point: 119-73