An Act to amend the Federal Property and Administrative Services Act of 1949, as amended, to provide for a Federal telecommunications fund
PL 87-847 (H.R.11899), enacted 10/23/1962

76 STAT.] 
P U B U C LAW 87-847-OCT. 23, 1962 
1117 
TITLE I I I 
SEO. 301. If any provision of this Act, or the application thereof to 
any person or circumstances, shall be held invalid, the remainder of 
this Act, or the application of such provisions to other persons or 
circumstances, shaft not be affected. 
Approved October 22, 1962. 
Public Law 87-847 
AN A C T 
October 23, 1962 
To amend the Federal Property and Administrative Services Act of 1949, as 
[H. R. U899] 
amended, to provide for a Federal telecommunications fund. 
Be it enacted by the Senate and House of Representatives 
of the 
United States of America in Congress a^ssemhled^ That title I of the 
Federal teie-
Federal Property and Administrative Services Act of 1949 (63 Stat, c^munications. 
377), as amended, is hereby amended by adding a new section to read "s use eaog. 
as follows: 
"SEC. 110. There is hereby authorized to be established on the books 
of the Treasury, a Federal telecommunications fund, which shall be 
available without fiscal year limitation for expenses, including per-
sonal services, other costs, and the procurement by lease or purchase 
of equipment and operating facilities (including cryptographic de-
vices) necessary for the operation of a Federal telecommunications 
system, to provide local and long distance voice, teletype, data, fac-
simile, and other communication services. There are authorized to be 
appropriated to said fund such sums as may be required which, to-
gether with the value, as determined by the Administrator, of sup-
plies and equipment from time to time transferred to the Adminis-
trator under authority of section 205(f), less any liabilities assumed, 
es stat. 389. 
shall constitute the capital of the fund: Provided,, That said fund 
^^ ^^^ ^^^-
shall be credited with (1) advances and reimbursements from available 
appropriations and funds of any agency (including the General Serv-
ices Administration), organization, or persons for telecommunication 
services rendered and facilities made available thereto, at rates deter-
mined by the Administrator to approximate the costs thereof met by 
the fund (including depreciation of equipment, provision for accrued 
leave, and where appropriate, for terminal liability charges and for 
amortization of installation costs, but excluding, in the determina-
tion of rates prior to the fiscal year 1966, such direct operating ex-
penses as may be directly appropriated for, which expenses may be 
charged to the fund and covered by advances or reimbursements from 
such direct appropriations) and (2) refunds or recoveries resulting 
from operations of the fund, including the net proceeds of disposal of 
excess or surplus personal property and receipts from carriers and 
others for loss of or damage to property: Provided further,, That fol-
lowing the close of each fiscal year any net income, after making pro-
vision for prior year losses, if any, shall be transferred to the Treasury 
of the United States as miscellaneous receipts." 
Approved October 23, 1962.