(a) Exchange or Sale of Similar Items.— When the Secretary of the Navy sells an obsolete service craft or an obsolete boat, or exchanges such a craft or boat in a transaction for which a similar craft or boat is acquired, the Secretary may retain the proceeds of the sale or the exchange allowance from the exchange, as the case may be, and apply the proceeds of sale or the exchange allowance for any of the following purposes:
(1)For payment, in whole or in part, for a similar service craft or boat acquired as a replacement, as authorized by section
503 of title
(2)For reimbursement, to the extent practicable, of the appropriate accounts of the Navy for the full costs of preparation of such obsolete craft or boat for such sale or exchange.
(3)For deposit to the special account established under subsection (b), to be available in accordance with that subsection.
(b) Special Account.— Amounts retained under subsection (a) that are not applied as provided in paragraph (1) or (2) of that subsection shall be deposited into a special account. Amounts in the account shall be available under subsection (c) without regard to fiscal year limitation. Amounts in the account that the Secretary of the Navy determines are not needed for the purpose stated in subsection (c) shall be transferred at least annually to the General Fund of the Treasury.
(c) Costs of Preparation of Obsolete Service Craft and Boats for Future Sale or Exchange.— The Secretary may use amounts in the account under subsection (b) for payment, in whole or in part, for the full costs of preparation of obsolete service craft and obsolete boats for future sale or exchange.
(d) Costs of Preparation for Sale or Exchange.— In this section, the term “full costs of preparation” means the full costs (direct and indirect) incurred by the Navy in preparing an obsolete service craft or an obsolete boat for exchange or sale, including the cost of the following:
(4)Removal and disposal of hazardous wastes.
(5)Environmental surveys to determine the presence of regulated materials containing polychlorinated biphenyl (PCB) and, if such materials are found, the removal and disposal of such materials.
(6)Other costs related to such preparation.
(e) Obsolete Service Craft.— For purposes of this section, an obsolete service craft is a service craft that has been stricken from the Naval Vessel Register.
(f) Inapplicability of Advertising Requirement.— Section 3709  of the Revised Statutes (41 U.S.C. 5) does not apply to sales of service craft and boats described in subsection (a).
(g) Regulations.— The Secretary of the Navy shall prescribe regulations for the purposes of this section.
Section 3709 of the Revised Statutes, referred to in subsec. (f), was classified to section 5 of former Title 41, Public Contracts, and was repealed and restated as section
6101 of Title
41, Public Contracts, by Pub. L. 111–350, §§ 3,
7(b),Jan. 4, 2011, 124 Stat. 3677, 3855. For disposition of sections of former Title 41, see Disposition Table preceding section
101 of Title
Pub. L. 108–375, div. A, title X, § 1012(b),Oct. 28, 2004, 118 Stat. 2040, provided that: “Section
7312 of title
10, United States Code, as added by subsection (a), shall apply with respect to amounts received on or after the date of the enactment of this Act [Oct. 28, 2004] and to amounts received before the date of the enactment of this Act and not obligated as of that date.”
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.
Description of Change
Statutes at Large
LII has no control over and does not endorse any external Internet site that contains links to or references LII.