Sec. 853. Use of program income by eligible entities that carry out procurement technical assistance programs
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/bill/115/hr/2810/pcs/section-853A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 2414 of title 10, United States Code, is amended— in the section heading, by striking and inserting Limitation ; and Funding by adding at the end the following new subsection: An eligible entity that earned income in a specified fiscal year from activities carried out pursuant to a procurement technical assistance program funded under this chapter may expend an amount of such income not to exceed 25 percent of the cost of furnishing procurement technical assistance in such specified fiscal year, during the fiscal year following the specified fiscal year, to carry out a procurement technical assistance program funded under this chapter.
An eligible entity that does not enter into a cooperative agreement with the Secretary for a fiscal year— shall notify the Secretary of the amount of any income the eligible entity carried over from the previous fiscal year; and may retain an amount of such income equal to 10 percent of the value of assistance furnished by the Secretary under this section during the previous fiscal year. In determining the value of assistance furnished by the Secretary under this section for any fiscal year, the Secretary shall account for the amount of any income the eligible entity carried over from the previous fiscal year. .