§ 650. — Coast Guard Supply Fund.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 14USC650]
TITLE 14--COAST GUARD
PART I--REGULAR COAST GUARD
CHAPTER 17--ADMINISTRATION
Sec. 650. Coast Guard Supply Fund
(a) A Coast Guard Supply Fund is authorized. The Secretary may
prescribe regulations for designating the classification of materials to
be stocked. In these regulations, whenever the fund is extended to
include items not previously stocked, or spare parts obtained as part of
a procurement under a different account of major items such as vessels
or aircraft, whether or not such parts were previously stocked, the
Secretary may authorize an increase in the existing capital of the fund
by the value of such usable materials transferred thereto from Coast
Guard inventories carried in other accounts. Except for the materials so
transferred, the fund shall be charged with the cost of materials
purchased or otherwise acquired. The fund shall be credited with the
value of materials consumed, issued for use, sold, or otherwise disposed
of, such values to be determined on a basis that will approximately
cover the cost thereof.
(b) Obligations may, without regard to fiscal year limitations, be
incurred against anticipated reimbursement to the Coast Guard Supply
Fund in such amount and for such period, as the Secretary, with approval
of the Director of the Office of Management and Budget, may determine to
be necessary to maintain stock levels consistently with planned
operations for the next year.
(Aug. 4, 1949, ch. 393, 63 Stat. 550; Aug. 7, 1956, ch. 1023, Sec. 1(a),
70 Stat. 1077; Pub. L. 91-278, Sec. 1(13), June 12, 1970, 84 Stat. 306;
Pub. L. 94-546, Sec. 1(35), Oct. 18, 1976, 90 Stat. 2521; Pub. L. 96-
376, Sec. 5, Oct. 3, 1980, 94 Stat. 1509.)
Historical and Revision Notes
A Coast Guard supply fund was established by the Naval Appropriation
Act for fiscal year 1943 approved February 7, 1942, 56 Stat. 73.
Experience has clearly shown that it is advantageous to the Government
to have permanent authorization for such a fund. 81st Congress, House
Report No. 557.
Amendments
1980--Subsec. (a). Pub. L. 96-376 substituted ``these regulations''
for ``such regulations'' and authorized an increase in the capital of
the fund when the fund is extended to include spare parts obtained as
part of a procurement under a different account of major items such as
vessels or aircraft, whether or not such parts were previously stocked.
1976--Subsec. (b). Pub. L. 94-546 substituted ``Office of Management
and Budget'' for ``Bureau of the Budget''.
1970--Pub. L. 91-278 designated existing provisions as subsec. (a)
and added subsec. (b).
1956--Act Aug. 7, 1956, substituted ``Coast Guard Supply Fund'' for
``Coast Guard supply fund and supply account'' in section catchline,
struck out provisions calling for mandatory increase of the Fund by the
value of commissary provisions and uniform clothing on hand on July 1,
1949, and inserted provisions permitting the Secretary to prescribe
regulations for designating the classification of materials to be
stocked and for increasing the existing capital of the Fund.
