22-U.S.C.-3721

§3721 – Accounting Policies

Pathway

Title 22 > Chapter 51 > Subchapter I > Part 3 > Subpart ii > Section 3721

Details

• Reference: Section 3721
• Legend: §3721 – Accounting Policies
• USCode Year: 2013

Provision Content

(a) Establishment and maintenance of accounts; specifications

The Commission shall establish and maintain its accounts pursuant to chapter 91 of title 31 and the provisions of this part. Such accounts shall specify all revenues received by the Commission, including tolls for the use of the Panama Canal, expenditures for capital replacement, expansion, and improvement, and all costs of maintenance and operation of the Panama Canal and of its complementary works, installations, and equipment, including depreciation, payments to the Republic of Panama under the Panama Canal Treaty of 1977, and interest on the investment of the United States calculated in accordance with section 3793 of this title.

(b) Regulations establishing the basis of accounting for assets

The Commission may issue regulations establishing the basis of accounting for the assets which are made available for the use of the Commission. Such regulations may provide for depreciation of the net replacement value of the assets which will ultimately require replacement to maintain the service capacity of the Panama Canal. Such regulations may also provide that depreciation of such assets be recorded ratably over their service lives.

(Pub. L. 96–70, title I, §1311, Sept. 27, 1979, 93 Stat. 479; Pub. L. 104–201, div. C, title XXXV, §3541(a), Sept. 23, 1996, 110 Stat. 2866.)

Amendments

1996—Subsec. (a). Pub. L. 104–201 substituted chapter 91 of title 31 for the Accounting and Auditing Act of 1950 (31 U.S.C. 65 et seq.).

U.S. Encyclopedia of Law Coverage

22-U.S.C.-3673 in the Legal Encyclopedia: Foreign Relations

In this entry about 22-U.S.C.-3673, find legal reference material, bibliographies and premiere content related to foreign relations in the American Encyclopedia of Law, presenting a comprehensive view of the United States foreign relations-specific issues, written by authorities in the field.

22-U.S.C.-3712A in the Legal Encyclopedia: Panama

In this entry about 22-U.S.C.-3712A, find legal reference material, bibliographies and premiere content related to panama in the American Encyclopedia of Law, presenting a comprehensive view of the United States panama-specific issues, written by authorities in the field.

15-U.S.C.-7261 in the Legal Encyclopedia: Accounting

In this entry about 15-U.S.C.-7261, find legal reference material, bibliographies and premiere content related to accounting in the American Encyclopedia of Law, presenting a comprehensive view of the United States accounting-specific issues, written by authorities in the field.

Topic Map

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