40 U.S. Code § 571 - General rules for deposit and use of proceeds

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(a) Deposit in Treasury as Miscellaneous Receipts.—
(1) In general.— Except as otherwise provided in this subchapter, proceeds described in paragraph (2) shall be deposited in the Treasury as miscellaneous receipts.
(2) Proceeds.— The proceeds referred to in paragraph (1) are proceeds under this chapter from a—
(A) transfer of excess property to a federal agency for agency use; or
(B) sale, lease, or other disposition of surplus property.
(b) Payment of Expenses of Sale Before Deposit.— Subject to regulations under this subtitle, the expenses of the sale of old material, condemned stores, supplies, or other public property may be paid from the proceeds of sale so that only the net proceeds are deposited in the Treasury. This subsection applies whether proceeds are deposited as miscellaneous receipts or to the credit of an appropriation as authorized by law.

Source

(Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1104.)

Historical and Revision Notes
Revised Section Source (U.S. Code) Source (Statutes at Large)
571(a) 40:485(a). June 30, 1949, ch. 288, title II, § 204(a), 63 Stat. 388; Pub. L. 101–510, div. B, title XXVIII, § 2805(1), Nov. 5, 1990, 104 Stat. 1786.
571(b) 40:485a. June 8, 1896, ch. 373, 29 Stat. 268; Oct. 31, 1951, ch. 654, § 2(20), 65 Stat. 707; Pub. L. 104–316, title I, § 120(a), Oct. 19, 1996, 110 Stat. 3836.

In subsection (b), the words “whether proceeds are deposited as miscellaneous receipts or to the credit of an appropriation as authorized by law” are substituted for “either as miscellaneous receipts on account of ‘proceeds of Government property’ or to the credit of the appropriations to which such proceeds are by law authorized to be made . . . either as miscellaneous receipts or to the credit of such appropriations, as the case may be” to eliminate unnecessary words.

 

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