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

Summary

When the General Services Administrator takes over government cars or related gear from another government owner, they must pay for it if it came from a Government corporation or from an agency that bought it using unreimbursed money from a revolving or trust fund. The Administrator must pay the fair market value to that corporation or fund, and if similar items are later returned, the corporation or fund must pay the Administrator the fair market value. If no payment is required, the Administrator can add the value they decide for the property to the Acquisition Services Fund. If similar items are later returned, that value can be taken out of the Fund.

Title 40, §604

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

(a)(1)When the Administrator of General Services takes over motor vehicles or related equipment or supplies under section 602 of this title, reimbursement is required if the property is taken over from—

(A)a Government corporation; or

(B)an agency, if the agency acquired the property through unreimbursed expenditures made from a revolving or trust fund authorized by law.

(2)The Administrator shall reimburse a Government corporation, or a fund through which an agency acquired property, by an amount equal to the fair market value of the property. If the Administrator subsequently returns property of a similar kind under section 610 of this title, the Government corporation or the fund shall reimburse the Administrator by an amount equal to the fair market value of the property returned.

(b)If the Administrator takes over motor vehicles or related equipment or supplies under section 602 of this title but reimbursement is not required under subsection (a), the value of the property taken over, as determined by the Administrator, may be added to the capital of the Acquisition Services Fund. If the Administrator subsequently returns property of a similar kind under section 610 of this title, the value of the property may be deducted from the Fund.

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 604(a)40:491(g).June 30, 1949, ch. 288, title II, § 211(g), (h), as added Sept. 5, 1950, ch. 849, § 5(c), 64 Stat. 583; Sept. 1, 1954, ch. 1211, § 2, 68 Stat. 1128. 604(b)40:491(h).

Editorial Notes

Amendments

2006—Subsec. (b). Pub. L. 109–313 substituted “Acquisition Services Fund” for “General Supply Fund” in heading and text.

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.

§604 Treatment of Assets Taken Over to Establish Motor Vehicle Pools and Transportation Systems