Volume 76
Public Law 87–638
To provide for a method of payment of Indirect costs of research and development contracted by the Federal Government at universities, colleges, and other educational institutions.
Approved September 5, 1962
Statutory text
AN ACT
To provide for a method of payment of Indirect costs of research and development contracted by the Federal Government at universities, colleges, and other educational institutions.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That hereafter provision
Research and development.
Indirect costs.
may be made in cost-type research and development contracts (including grants) with universities, colleges, or other educational institutions for payment of reimbursable indirect costs on the basis of predetermined fixed-percentage rates applied to the total, or an element thereof, of the reimbursable direct costs incurred.
Approved September 5, 1962.