Title 40, Public Buildings, Property, and WorksRelease 119-102
§573 Personal Property
Title 40 › SUBTITLE I — FEDERAL PROPERTY AND ADMINISTRATIVE SERVICES › CHAPTER 5 — PROPERTY MANAGEMENT › SUBCHAPTER IV — PROCEEDS FROM SALE OR TRANSFER › § 573
Summary
GSA may retain from personal property sale proceeds the amounts needed to recover sale costs, deposit them into the Acquisition Services Fund to pay direct and reasonably related indirect costs, and at least once each year transfer unneeded amounts to the Treasury general fund or another account.
Full Legal Text
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.
Legislative History
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.
Reference
Citations & Metadata
Citation
40 U.S.C. § 573
Title 40, Public Buildings, Property, and Works
Last Updated
Aug 21, 2026
Release point: 119-102