§573 — Title 40 Public Buildings, Property, and Works | U.S. Code

Summary

May keep from the money made by selling personal property whatever is needed, as practicable, to recover the costs of running those sales. The Administrator must deposit those amounts into the Acquisition Services Fund established under section 321(a) of this title, may use them to pay direct and reasonably related indirect costs of the sales, and must transfer any unused amounts at least once each year to the general fund or another appropriate account in the Treasury.

Title 40, §573

Public Buildings, Property, and Works — Source: USLM XML via OLRC

The Administrator of General Services may retain from the proceeds of sales of personal property the Administrator conducts amounts necessary to recover, to the extent practicable, costs the Administrator (or the Administrator’s agent) incurs in conducting the sales. The Administrator shall deposit amounts retained into the Acquisition Services Fund established under section 321(a) of this title. From the amounts deposited, the Administrator may pay direct costs and reasonably related indirect costs incurred in conducting sales of personal property. At least once each year, amounts retained that are not needed to pay the direct and indirect costs shall be transferred from the Acquisition Services Fund to the general fund or another appropriate account in the Treasury.

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 57340:485(i).June 30, 1949, ch. 288, title II, § 204(i), as added Pub. L. 103–123, title IV, § 7, Oct. 28, 1993, 107 Stat. 1247.

Editorial Notes

Amendments

2006—Pub. L. 109–313 substituted “Acquisition Services Fund” for “General Supply Fund” in two places.

Statutory Notes and Related Subsidiaries

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.

§573 Personal Property