§328 — Title 49 Transportation | U.S. Code

Summary

Creates a working capital fund for the Transportation Systems Center to pay for its work, like research, development, testing, evaluation, analysis, and other approved activities for the Department of Transportation, other agencies, state and local governments, public authorities, private groups, and foreign countries. Money in the fund does not expire at year end, and Congress may appropriate money to it. The fund’s capital includes appropriations; the Center’s net assets as of October 1, 1980 (including unspent advances valid before that date); the value of property moved into the fund after September 30, 1980 minus related debts; and donated property. The fund is credited with advance payments authorized by the Secretary of Transportation for services (at rates that recover operating costs, including accrued leave and overhead) and for buying property under Secretary rules, plus money from sales or insurance for fund property. At the end of each fiscal year, the Secretary must put any amounts the Secretary finds are more than the fund needs into the Treasury as miscellaneous receipts.

Title 49, §328

Transportation — Source: USLM XML via OLRC

(a)The Department of Transportation has a Transportation Systems Center working capital fund. Amounts in the fund are available for financing the activities of the Center, including research, development, testing, evaluation, analysis, and related activities the Secretary of Transportation approves, for the Department, other agencies, State and local governments, other public authorities, private organizations, and foreign countries.

(b)Amounts in the fund are available without regard to fiscal year limitation. Amounts may be appropriated to the fund.

(c)The capital of the fund consists of—

(1)amounts appropriated to the fund;

(2)net assets of the Center as of October 1, 1980, including unexpended advances made to the Center for which valid obligations were incurred before October 1, 1980;

(3)the reasonable value of property and other assets transferred to the fund after September 30, 1980, less the related liabilities and unpaid obligations; and

(4)the reasonable value of property and other assets donated to the fund.

(d)The fund shall be reimbursed or credited with—

(1)advance payments from applicable funds or appropriations of the Department and other agencies, and with advance payments from other sources, the Secretary authorizes, for—

(A)services at rates that will recover the expenses of operation, including the accrual of annual leave and overhead; and

(B)acquiring property and equipment under regulations the Secretary prescribes; and

(2)receipts from the sale or exchange of property or in payment for loss or damage of property held by the fund.

(e)The Secretary shall deposit at the end of each fiscal year, in the Treasury as miscellaneous receipts, amounts accruing in the fund that the Secretary decides are in excess of the needs of the fund.

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 328(a)49:1657(r)(1) (1st sentence, 2d sentence words before last comma, last sentence).Oct. 15, 1966, Pub. L. 89–670, 80 Stat. 931, § 9(r); added May 30, 1980, Pub. L. 96–254, § 207, 94 Stat. 413. 328(b)49:1657(r)(1) (2d sentence words after last comma), (2)(B) (words after last comma). 328(c)49:1657(r)(2)(A), (B) (words before last comma), (C). 328(d)49:1657(r)(3). 328(e)49:1657(r)(4). In subsection (a), the words “Department of Transportation has” are substituted for “Secretary is authorized to establish” because the working capital fund has been established. The text of 49:1657(r)(1) (2d sentence words before last comma) are omitted as executed. The words “The Transportation Systems Center is authorized to perform” are omitted as unnecessary because of the restatement. The word “approves” is substituted for “direct . . . and, when approved by the Secretary” to eliminate unnecessary words. The words “or his designee” are omitted because of section 322(b) of the revised title. In subsection (c)(3) and (4), the words “fair and” are omitted as surplus. In subsection (c)(3), the words “by the Department and other agencies of the Government” are omitted as surplus. In subsection (c)(4), the words “from other sources” are omitted as surplus. In subsection (d)(1), before clause (A), the words “or his designee” are omitted because of section 322(b) of the revised title. In subsection (e), the words “The Secretary shall deposit” are substituted for “there shall be transferred” for clarity and consistency. The words “in the fund” are added for clarity.

§328 Transportation Systems Center Working Capital Fund

Summary

Title 49, §328

Notes & Related Subsidiaries

Historical and Revision Notes

Citations & Metadata