(1) Requirement.— When the Administrator of General Services takes over motor vehicles or related equipment or supplies under section
602 of this title, reimbursement is required if the property is taken over from—
(A)a Government corporation; or
(B)an agency, if the agency acquired the property through unreimbursed expenditures made from a revolving or trust fund authorized by law.
(2) Amount.— The Administrator shall reimburse a Government corporation, or a fund through which an agency acquired property, by an amount equal to the fair market value of the property. If the Administrator subsequently returns property of a similar kind under section
610 of this title, the Government corporation or the fund shall reimburse the Administrator by an amount equal to the fair market value of the property returned.
(b) Addition to Acquisition Services Fund.— If the Administrator takes over motor vehicles or related equipment or supplies under section
602 of this title but reimbursement is not required under subsection (a), the value of the property taken over, as determined by the Administrator, may be added to the capital of the Acquisition Services Fund. If the Administrator subsequently returns property of a similar kind under section
610 of this title, the value of the property may be deducted from the Fund.
June 30, 1949, ch. 288, title II, § 211(g), (h), as added Sept. 5, 1950, ch. 849, § 5(c), 64 Stat. 583; Sept. 1, 1954, ch. 1211, § 2, 68 Stat. 1128.
2006—Subsec. (b). Pub. L. 109–313substituted “Acquisition Services Fund” for “General Supply Fund” in heading and text.
Effective Date of 2006 Amendment
Amendment by Pub. L. 109–313effective 60 days after Oct. 6, 2006, see section 6 ofPub. L. 109–313, set out as a note under section
5316 of Title
5, Government Organization and Employees.
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.