40-U.S.C.-605
§605 – Payment of Costs
Pathway
Title 40 > Subtitle I > Chapter 5 > Subchapter VI > Section 605
Details
- Reference: Section 605
- Legend: §605 – Payment of Costs
- USCode Year: 2013
Provision Content
(a) Use of Acquisition Services Fund To Cover Costs.—The Acquisition Services Fund provided for in section 321 of this title is available for use by or under the direction and control of the Administrator of General Services to pay the costs of carrying out section 602 of this title, including the cost of purchasing or renting motor vehicles and related equipment and supplies.
(b) Setting Prices To Recover Costs.—
(1) In general.—The Administrator shall set prices for furnishing motor vehicles and related services under section 602 of this title. Prices shall be set to recover, so far as practicable, all costs of carrying out section 602 of this title.
(2) Increment for replacement cost.—In the Administrators discretion, prices may include an increment for the estimated replacement cost of motor vehicles and related equipment and supplies. Notwithstanding section 321(f) of this title, the increment may be retained as a part of the capital of the Acquisition Services Fund but is available only to replace motor vehicles and related equipment and supplies.
(c) Accounting Method.—The purchase price of motor vehicles and related equipment, and any increment for estimated replacement cost, shall be recovered only through charges for the cost of amortization. Costs shall be determined, and financial reports prepared, in accordance with the accrual accounting method.
(Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1123; Pub. L. 109–313, §3(h)(6), Oct. 6, 2006, 120 Stat. 1736.)
| Revised Section |
Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 605 | 40:491(d). | June 30, 1949, ch. 288, title II, §211(d), as added Sept. 5, 1950, ch. 849, §5(c), 64 Stat. 583; Sept. 1, 1954, ch. 1211, §2, 68 Stat. 1127; Pub. L. 95–506, Oct. 24, 1978, 92 Stat. 1756. |
Amendments
2006—Subsec. (a). Pub. L. 109–313, §3(h)(6)(A), substituted Acquisition Services Fund for General Supply Fund in heading and text.
Subsec. (b)(2). Pub. L. 109–313, §3(h)(6)(B), substituted 321(f) for 321(f)(1) and Acquisition Services Fund for General Supply Fund.
Effective Date of 2006 Amendment
Amendment by Pub. L. 109–313 effective 60 days after Oct. 6, 2006, see section 6 of Pub. L. 109–313, set out as a note under section 5316 of Title 5, Government Organization and Employees.
U.S. Encyclopedia of Law Coverage
40-U.S.C.-588 in the Legal Encyclopedia: Public Property
In this entry about 40-U.S.C.-588, find legal reference material, bibliographies and premiere content related to public property in the American Encyclopedia of Law, presenting a comprehensive view of the United States public property-specific issues, written by authorities in the field.
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