Obligations under the revolving fund are limited to the total amounts specified in the appropriations act for that purpose for any fiscal year. The fund shall be credited with all advances and amounts received as payment for purchases under the cooperative acquisitions program and services and supplies furnished to program participants, at rates estimated by the Librarian as adequate to recover the full direct and indirect costs of the program to the Library over a reasonable period of time. Any unobligated and unexpended balances in the fund, which the Librarian determines to be in excess of amounts needed for activities financed by the fund, shall be deposited in the Treasury of the United States as miscellaneous receipts.
Amounts needed for fund activities includes amounts necessary for program development.
The audit shall be conducted in accordance with applicable generally accepted government auditing standards. Attached are draft legislation and list of committees who are influential in getting this passed.