Sec. 9. Allocation of proceeds
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Section 22 of the Federal Assets Sale and Transfer Act of 2016 ( 40 U.S.C. 1303 note; Public Law 114–287 ) (as redesignated by section 7(a)) is amended to read as follows: Section 571 of title 40, United States Code, is amended by striking subsections
(a)and
(b)and inserting the following: Net proceeds described in subsection
(b)shall be deposited as miscellaneous receipts in the general fund of the Treasury. 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 sale, lease, or other disposition of surplus real property. . The amendments made by this section shall take effect on the date on which the Board is terminated pursuant to section 10 and shall not apply to proceeds from transactions conducted under section 15. .
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- Pub. L. 114-287
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