Sec. 8. Funding
345 words·~2 min read·
/bill/114/s/2375/is/section-8·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
There is established in the Treasury of the United States an account to be known as the Tangible Property Management Reform Board—Salaries and Expenses account. There shall be deposited into the account established by paragraph
(1)such amounts as are provided in appropriations Acts for those necessary payments for salaries and expenses to accomplish the administrative needs of the Board. There is established within the Federal Buildings Fund established by section 592 of title 40, United States Code, an account to be known as the Tangible Property Management Reform Board—Asset Proceeds and Space Management Fund , which shall be used solely for the purposes of carrying out actions under section 7, pursuant to the recommendations of the Board approved under section 6. Notwithstanding section 3307 of title 40, United States Code, the fund established by paragraph
(1)shall consist of— such amounts as are provided in appropriations Acts, to remain available until expended, for the consolidation, colocation, exchange, redevelopment, reconfiguration of space, disposal, and other actions recommended by the Board for Federal agencies; and amounts received from the sale of any tangible property action taken pursuant to a recommendation of the Board. The amounts deposited in the fund under paragraph
(2)shall be made available for obligation or expenditure only as provided in advance in appropriation Acts for the purposes described in subparagraphs
(A)and
(B)of paragraph (2). As provided in appropriations Acts, proceeds under paragraph (2)(B) may be made available to cover necessary costs associated with implementing the recommendations pursuant to section 7, including costs associated with— sales transactions; acquiring land, construction, constructing replacement facilities, conducting advance planning and design as may be required to transfer functions from a Federal asset or property to another Federal civilian property; colocation, redevelopment, disposal, and reconfiguration of space; and other actions recommended by the Board for Federal agencies. In submitting a budget under section 1105 of title 31, United States Code, the President shall include— an estimate of proceeds from implementing the recommendations of the Board; and the obligations and expenditures needed to support those recommendations.