16 U.S.C. § 579b: Working capital fund…

Summary

Creates a permanent working capital fund for the Forest Service to pay for supplies, equipment, and allowed building or improvement costs with no yearly spending limit. The Secretary of Agriculture can move assets (like money owed, inventory, and equipment) into the fund and take on their debts. The fund must receive advance payments and reimbursements from the Forest Service, other federal agencies, and other lawful sources at rates about equal to the cost of the services.

Title 16, §579b

Conservation, Source: USLM XML via OLRC

There is established a working capital fund which shall be available without fiscal year limitation for expenses necessary, including the purchase or construction of buildings and improvements within the limitations thereon set forth in the appropriations for the Forest Service, for furnishing supply and equipment services in support of programs of the Forest Service. The Secretary of Agriculture is authorized to transfer to the fund, without reimbursement, and to capitalize in the fund at fair and reasonable values, such receivables, inventories, equipment, and other assets as he may determine, and assume the liabilities in connection with such assets: Provided, That the fund shall be credited with advance payments in connection with firm orders and reimbursements from appropriations and funds of the Forest Service, other departmental and Federal agencies, and from other sources, as authorized by law, at rates approximately equal to the cost of furnishing the facilities and service.

Editorial Notes

Amendments

1962—Pub. L. 87–869 struck out the $25,000,000 limitation on amount of capitalization in Forest Service working capital fund.

§579b Working Capital Fund; Establishment; Availability; Transfer; Capitalization; Advance Payments Credited

Summary

Title 16, §579b

Notes & Related Subsidiaries

Editorial Notes

Amendments

Citations & Metadata