Sec. 5. Agency retention of proceeds
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Section 571 of title 40, United States Code, is amended to read as follows: Net proceeds described in subsection
(d)shall be deposited into the appropriate account of the agency that had custody and accountability for the property at the time the property is determined to be excess. The net proceeds deposited pursuant to paragraph
(1)may only be expended as authorized in annual appropriations Acts, for— activities described in sections 543 and 545, including paying costs incurred by the General Services Administration for any disposal-related activity authorized by this title; and activities pursuant to implementation of the Federal Buildings Personnel Training Act of 2010 ( 40 U.S.C. 581 note; Public Law 111–308 ). Any net proceeds described in subsection
(d)from the sale, lease, or other disposition of surplus real property that are not expended under paragraph
(2)shall be used for deficit reduction. Nothing in this section is intended to affect section 572(b), 573, or 574. For the purposes of this section, for any property that reverts to the United States under sections 550 and 553, the General Services Administration, as the disposal agency, shall be treated as the agency with custody and accountability for the property at the time the property is determined to be excess. The net proceeds described in this subsection are proceeds under this chapter, less expenses of the transfer or disposition as provided in section 572(a), from— a transfer of excess real property to a Federal agency for agency use; or a sale, lease, or other disposition of surplus real property. Except as otherwise provided in this subchapter, proceeds described in paragraph
(2)shall be deposited in the Treasury as miscellaneous receipts. The proceeds described in this paragraph are proceeds under this chapter from— a transfer of excess personal property to a Federal agency for agency use; or a sale, lease, or other disposition of surplus personal property. Subject to regulations under this subtitle, the expenses of the sale of personal property may be paid from the proceeds of the sale so that only the net proceeds are deposited in the Treasury. This paragraph applies whether proceeds are deposited as miscellaneous receipts or to the credit of an appropriation as authorized by law. .
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- Pub. L. 111-308
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