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Current as of January 01, 2024 | Updated by Findlaw Staff
(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.
Cite this article: FindLaw.com - 40 U.S.C. § 571 - U.S. Code - Unannotated Title 40. Public Buildings, Property, and Works § 571. General rules for deposit and use of proceeds - last updated January 01, 2024 | https://codes.findlaw.com/us/title-40-public-buildings-property-and-works/40-usc-sect-571/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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