§ 579b. Working capital fund; establishment; availability; transfer; capitalization; advance payments credited

Statutory text

There is established a working capital fund which shall be available without fiscal year limitation for expenses necessary, including the purchase or construction of buildings and improvements within the limitations thereon set forth in the appropriations for the Forest Service, for furnishing supply and equipment services in support of programs of the Forest Service. The Secretary of Agriculture is authorized to transfer to the fund, without reimbursement, and to capitalize in the fund at fair and reasonable values, such receivables, inventories, equipment, and other assets as he may determine, and assume the liabilities in connection with such assets: Provided, That the fund shall be credited with advance payments in connection with firm orders and reimbursements from appropriations and funds of the Forest Service, other departmental and Federal agencies, and from other sources, as authorized by law, at rates approximately equal to the cost of furnishing the facilities and service.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1956
Pub. L. 84–950 § 13 · 70 Stat. 973
Enacted · 16 U.S.C. § 579b
Aug. 3, 1956, ch. 950, § 13, 70 Stat. 1034
Source evidence
Code source credit
Aug. 3, 1956, ch. 950, § 13, 70 Stat. 1034
1962
Pub. L. 87–869 § 10 · 76 Stat. 1157
Struck · 16 U.S.C. § 579b
Pub. L. 87–869 struck out the $25,000,000 limitation on amount of capitalization in Forest Service working capital fund
Source evidence
Code amendment note
Pub. L. 87–869 struck out the $25,000,000 limitation on amount of capitalization in Forest Service working capital fund.
Enacted provision · exact public law section
Sec. 10. Section 13 of the Department of Agriculture Organic Act of 1956 (70 Stat . 1034; 16 U.S.C. 579b) is hereby amended by deleting from the second sentence thereof the comma after the word “assets” and the words “but such capitalization shall not exceed $25,000,000.”

1 of 2 references resolved to an enrolled provision · 1 partial

Editorial Notes

Amendments

1962—Pub. L. 87–869 struck out the $25,000,000 limitation on amount of capitalization in Forest Service working capital fund.

Credits

1956–1962 · 2 acts

1956Aug. 3, 1956, ch. 950, § 13, 70 Stat. 1034
1962Pub. L. 87–869, § 10, Oct. 23, 1962, 76 Stat. 1157.

Show as published

(Aug. 3, 1956, ch. 950, § 13, 70 Stat. 1034; Pub. L. 87–869, § 10, Oct. 23, 1962, 76 Stat. 1157.)