Title 40 › Subtitle SUBTITLE I— FEDERAL PROPERTY AND ADMINISTRATIVE SERVICES › Chapter 3— ORGANIZATION OF GENERAL SERVICES ADMINISTRATION › Subchapter III— FUNDS › § 321
Creates a special Treasury fund to buy and manage goods and services for federal agencies. Money in the fund comes from transfers, refunds, and fees — including money from selling surplus items, payments for lost or damaged property, and charges to agencies. The head of the General Services Administration must work with the agency’s Chief Financial Officer to set yearly cost and capital needs and to set rates charged to agencies. Fees allowed under section 313 may also go into the fund. The fund pays for buying personal property, nonpersonal services, IT-related personal services, transport, repairs, and other direct or related costs of contracting, storage, and distribution. It can also buy items for some non-federal entities when authorized. Agencies must pay the prices the Administrator sets. Prices must, as much as possible, cover purchase, transport, inventory losses, repair and IT service costs, equipment amortization, and other related costs. Agencies may have to pay in advance if the fund lacks capital, or reimburse quickly under Comptroller General rules. If an agency does not pay within 45 days after billing or after the fund incurs the liability, the Administrator may use lawful transfer documents to get paid. Congress’s Senate and House can repay equipment costs over the equipment’s useful life as set with their officials. After each fiscal year, once enough inventory, vehicle replacement, and planned needs are set aside, any leftover money goes to the Treasury general fund. The Comptroller General must audit the fund. By September 30 each year, the Administrator must report to specified House and Senate committees on Technology Transformation Services programs funded in the past year or five years, including program explanations, funding amounts, expected reimbursements, project dates and costs, and supporting data. Definitions: Administrator — the Administrator of General Services. Expenditure — any obligation of fund money for the programs listed in the annual report requirement.
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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 5, 2026
Release point: 119-73not60