§ 571. General rules for deposit and use of proceeds

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.

1. 2002

   Pub. L. 107–217 · 116 Stat. 1062

   Enacted · 40 U.S.C. § 571

   Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1104

   Source evidence

   Code source credit
   Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1104

2. 2016

   Federal Assets Sale and Transfer Act of 2016

   Pub. L. 114–287 § 20(a) · 130 Stat. 1463

   1. Added · 40 U.S.C. § 571(a)(c)

      Pub. L. 114–287 added subsecs. (a) to (c)

   2. Struck · 40 U.S.C. § 571(a)(c)

      Pub. L. 114–287 struck out former subsecs. (a) and (b) which related to deposit in the Treasury as miscellaneous receipts of net proceeds from transfer or other disposition of surplus property and payment of expenses of sale before deposit

   Source evidence

   Code amendment note
   Subsecs. (a) to (c). Pub. L. 114–287 added subsecs. (a) to (c) and struck out former subsecs. (a) and (b) which related to deposit in the Treasury as miscellaneous receipts of net proceeds from transfer or other disposition of surplus property and payment of expenses of sale before deposit.

   Enacted provision · exact public law section
   (a) In General.— Section 571 of title 40, United States Code, is amended by striking subsections (a) and (b) and inserting the following: “(a) Proceeds From Transfer or Sale of Real Property.— “(1) Deposit of net proceeds.— Net proceeds described in subsection (c) shall be deposited into the appropriate real property account of the agency that had custody and accountability for the real property at the time the real property is determined to be excess. “(2) Expenditure of net proceeds.— 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 chapter. “(3) Deficit reduction.— Any net proceeds described in subsection (c) from the sale, lease, or other disposition of surplus real property that are not expended Time periods. under paragraph (2) shall be used for deficit reduction. Any net proceeds not obligated within 3 years after the date of deposit and not expended within 5 years after such date shall be deposited as miscellaneous receipts in the Treasury. “(b) Effect on Other Sections.— Nothing in this section is intended to affect section 572(b), 573, or 574. “(c) Net Proceeds.— 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— “(1) transfer of excess real property to a Federal agency for agency use; or “(2) sale, lease, or other disposition of surplus real property.” .

   Effective date note
   Pub. L. 114–318, § 7(c)(2), Dec. 16, 2016, 130 Stat. 1617, provided that: “The amendments made by this subsection [amending this section] shall take effect as if enacted as part of the applicable Act [Pub. L. 114–287].” Pub. L. 114–318, § 7(e), Dec. 16, 2016, 130 Stat. 1617, provided that: “Except as provided in subsection (c)(2) [set out above], this section [amending this section and provisions set out as a note under section 1303 of this title] and the amendments made by this section shall take effect immediately after the enactment of the applicable Act [Pub. L. 114–287].” Amendment by Pub. L. 114–287 effective on the date on which the Public Buildings Reform Board transmits the second report under section 12(h)(2)(B) of Pub. L. 114–287 and applicable to proceeds from transactions contained in that report and conducted after the date on which the Board terminates under section 10 of Pub. L. 114–287, see section 20(b) of Pub. L. 114–287, set out in a note under section 1303 of this title.

3. 2016

   Federal Property Management Reform Act of 2016

   Pub. L. 114–318 § 7(c)(1) · 130 Stat. 1608

   Added · 40 U.S.C. § 571(d)

   Pub. L. 114–318 added subsec. (d)

   Source evidence

   Code amendment note
   Subsec. (d). Pub. L. 114–318 added subsec. (d).

   Enacted provision · exact public law section
   (1) In general.— Section 571 of title 40, United States Code (as amended by section 20 of the applicable Act), is amended by adding at the end the following: “(d) Savings Provision.— Nothing in this section modifies, alters, or repeals any other provision of Federal law directing the use of retained proceeds relating to the sale of property of an agency.” .

   Effective date note
   Pub. L. 114–318, § 7(c)(2), Dec. 16, 2016, 130 Stat. 1617, provided that: “The amendments made by this subsection [amending this section] shall take effect as if enacted as part of the applicable Act [Pub. L. 114–287].” Pub. L. 114–318, § 7(e), Dec. 16, 2016, 130 Stat. 1617, provided that: “Except as provided in subsection (c)(2) [set out above], this section [amending this section and provisions set out as a note under section 1303 of this title] and the amendments made by this section shall take effect immediately after the enactment of the applicable Act [Pub. L. 114–287].” Amendment by Pub. L. 114–287 effective on the date on which the Public Buildings Reform Board transmits the second report under section 12(h)(2)(B) of Pub. L. 114–287 and applicable to proceeds from transactions contained in that report and conducted after the date on which the Board terminates under section 10 of Pub. L. 114–287, see section 20(b) of Pub. L. 114–287, set out in a note under section 1303 of this title.

3 of 4 references resolved to an enrolled provision · 1 partial