ProvidedProvided furtherProvided furtherProvided furtherProvided furtherThere is hereby established in the Treasury a “Working capital fund”, to be available without fiscal year limitation for expenses and equipment necessary for the maintenance and operation of such administrative services as the Administrator determines may be performed more advantageously as central services: , That any inventories, equipment, and other assets pertaining to the services to be provided by such fund, either on hand or on order, less the related liabilities or unpaid obligations, and any appropriations made hereafter for the purpose of providing capital, shall be used to capitalize such fund: , That such fund shall be paid in advance or reimbursed from funds available to the Agency and other Federal agencies for which such centralized services are performed, at rates which will return in full all expenses of operation, including accrued leave, depreciation of fund plant and equipment, amortization of automated data processing (ADP) software and systems (either acquired or donated), and an amount necessary to maintain a reasonable operating reserve, as determined by the Administrator: , That such fund shall provide services on a competitive basis: , That an amount not to exceed four percent of the total annual income to such fund may be retained in the fund for fiscal year 1997 and each fiscal year thereafter, to remain available until expended, to be used for the acquisition of capital equipment and for the improvement and implementation of Agency financial management, ADP, and other support systems: , That no later than thirty days after the end of each fiscal year amounts in excess of this reserve limitation shall be transferred to the Treasury.
Pub. L. 104–204, title III110 Stat. 2912Pub. L. 105–65, title III111 Stat. 1374Pub. L. 105–276, title III112 Stat. 2499(, , ; , , ; , , .)
Editorial Notes
Codification
section 501 of Title 31Section was formerly set out as a note under , Money and Finance.
Section was enacted as part of the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1997, and not as part of the National Environmental Policy Act of 1969 which comprises this chapter.
Amendments
Pub. L. 105–2761998—, which directed the insertion of “or reimbursed” after “that such fund shall be paid in advance”, was executed by making the insertion after “That such fund shall be paid in advance”, to reflect the probable intent of Congress.
Pub. L. 105–65section 403 of Public Law 103–356Provided furthersection 403(f) of Public Law 103–3561997— substituted “a ‘Working capital fund’ to be available without fiscal year limitation for expenses and equipment” for “a franchise fund pilot to be known as the ‘Working capital fund’, as authorized by , to be available as provided in such section for expenses and equipment” and struck out proviso at end which read “: , That such franchise fund pilot shall terminate pursuant to ”.