Source: http://www.law.cornell.edu/uscode/text/49/328?quicktabs_8=0
Timestamp: 2013-12-21 23:53:41
Document Index: 36592521

Matched Legal Cases: ['§ 328', '§ 328', '§ 328', '§ 1', '§ 9', '§ 207']

49 USC § 328 - Transportation Systems Center working capital fund | Title 49 - Transportation | U.S. Code | LII / Legal Information Institute
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49 USC § 328 - Transportation Systems Center working capital fund
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.
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;
the reasonable value of property and other assets transferred to the fund after September 30, 1980, less the related liabilities and unpaid obligations; and
the reasonable value of property and other assets donated to the fund.
The fund shall be reimbursed or credited with—
advance payments from applicable funds or appropriations of the Department and other agencies, and with advance payments from other sources, the Secretary authorizes, for—
services at rates that will recover the expenses of operation, including the accrual of annual leave and overhead; and
acquiring property and equipment under regulations the Secretary prescribes; and
receipts from the sale or exchange of property or in payment for loss or damage of property held by the fund.
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.
(Pub. L. 97–449, § 1(b),Jan. 12, 1983, 96 Stat. 2425.)
Revised Section Source (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.
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.