Sec. 1002. Department of Defense Readiness Restoration Fund
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The Secretary of Defense shall establish a fund to be known as the Department of Defense Readiness Restoration Fund (in this section referred to as the Fund ) in order to provide funds, in addition to other funds that may be available, for training activities of the Armed Forces (including flying hours and steaming days) and the maintenance of military equipment. The purpose of the Fund is to provide the Department of Defense with increased flexibility to transfer funds to high priority readiness accounts, where necessary to address significant shortfalls in funding otherwise available for the training activities of the Armed Forces (including flying hours and steaming days) and the maintenance of military equipment.
The Fund shall be managed by a senior official of the Department of Defense designated by the Under Secretary of Defense (Comptroller) for that purpose. The senior official designated under paragraph
(1)shall manage the Fund in consultation with the Assistant Secretary of Defense for Logistics and Materiel Readiness and the Assistant Secretary of Defense for Readiness. The Fund shall consist of the following: Amounts transferred to the Fund in accordance with paragraph (2). Any other amounts appropriated to, credited to, or deposited into the Fund by law. The Secretary of Defense may transfer to the Fund, in accordance with established procedures governing such transfers, any unobligated funds available to the Department of Defense. Any amount so transferred shall be credited to the Fund. Subject to the provisions of this subsection, amounts in the Fund shall be available to the Secretary of Defense for transfer to the operation and maintenance accounts of a military department or Defense Agency for expenditure for training activities of the Armed Forces (including flying hours and steaming days) and the maintenance of military equipment. Amounts in the Fund may not be obligated for any purpose other than purposes described in paragraph (1). The Assistant Secretary of Defense for Logistics and Materiel Readiness and the Assistant Secretary of Defense for Readiness shall establish a process for identifying, evaluating, and prioritizing the key readiness needs of the Department and for ensuring that amounts in the Fund are made available for the highest priority readiness needs so identified. The period of availability for obligation of amounts in the Fund shall not be affected by a transfer of such amounts under this section. A transfer made from one account to another under the authority of this section shall be deemed to change the amount authorized for the account to which the amount is transferred by an amount equal to the amount transferred. The transfer of amounts to the Fund pursuant to subsection (d)(2) shall not be counted toward the dollar limitation on transfer authority in section 1001, any similar provision in an annual Act authorizing appropriations for a fiscal year for the Department of Defense, or any other provision of law imposing a ceiling on amounts that may be transferred by the Department. The transfer of amounts from the Fund to a military department or Defense Agency pursuant to subsection (e)(1) shall not be counted toward the dollar limitation on transfer authority in section 1001, any similar provision in an annual Act authorizing appropriations for a fiscal year for the Department of Defense, or any other provision of law imposing a ceiling on amounts that may be transferred by the Department. The authority to transfer unobligated funds to the Fund under subsection (d)(2) shall cease on September 30, 2014. The authority to transfer amounts from the Fund under subsection
(e)shall expire on April 1, 2015. The exception from the provisions of law referred to in paragraphs
(1)and
(2)of subsection
(f)of transfers of amounts referred to in such paragraphs shall cease on September 30, 2014. The Secretary of Defense shall promptly notify the congressional defense committees of each transfer under subsection (d)(2) or (e)(1). Not later than 60 days after the end of any fiscal year in which amounts are available in the Fund, the Secretary of Defense shall submit to the congressional defense committees a report on the operation of the Fund during such fiscal year. Each report shall include, for the fiscal year covered by such report, the following: A statement of the amounts transferred, appropriated, credited, or deposited to or into the Fund, and the source of such amounts. A description of the expenditures made from the Fund (including expenditures following a transfer of amounts in the Fund to a military department or Defense Agency), including the purpose of such expenditures. A description and assessment of the improvements to the readiness of the Department of Defense resulting from such expenditures. A statement of the balance in the Fund at the beginning and end of such fiscal year.