§ 278b. — Working Capital 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: 15USC278b]
TITLE 15--COMMERCE AND TRADE
CHAPTER 7--NATIONAL INSTITUTE OF STANDARDS AND TECHNOLOGY
Sec. 278b. Working Capital Fund
(a) Utilization
The Institute is authorized to utilize in the performance of its
functions the Working Capital Fund established by the Act of June 29,
1950 (64 Stat. 275).
(b) Availability of Fund
The working capital of the fund shall be available for obligation
and payment for any activities authorized by this chapter, and for any
activities for which provision is made in the appropriations which
reimburse the fund.
(c) Reimbursements
In the performance of authorized activities, the Working Capital
Fund shall be available and may be reimbursed for expenses of hire of
automobile, hire of consultants, and travel to meetings, to the extent
that such expenses are authorized for the appropriations of the
Department of Commerce.
(d) Credits
The fund may be credited with advances and reimbursements, including
receipts from non-Federal sources, for services performed under the
authority of section 273 of this title.
(e) ``Cost'' defined
As used in this chapter, the term ``cost'' shall be construed to
include directly related expenses and appropriate charges for indirect
and administrative expenses.
(f) Distribution of earnings; restoration of prior impairment
The amount of any earned net income resulting from the operation of
the fund at the close of each fiscal year shall be paid into the general
fund of the Treasury: Provided, That such earned net income may be
applied to restore any prior impairment of the fund, and to ensure the
availability of working capital necessary to replace equipment and
inventories.
(Mar. 3, 1901, ch. 872, Sec. 12, as added Aug. 3, 1956, ch. 906, Sec. 2,
70 Stat. 959; amended Pub. L. 95-322, Sec. 2(a), July 21, 1978, 92 Stat.
395; Pub. L. 99-73, Sec. 5(a), July 29, 1985, 99 Stat. 172; Pub. L. 100-
418, title V, Sec. 5115(a)(1), Aug. 23, 1988, 102 Stat. 1433.)
References in Text
Act of June 29, 1950 (64 Stat. 275), referred to in subsec. (a), was
the Deficiency Appropriation Act, 1950. Provisions thereof relating to
Working Capital Fund are not classified to the Code.
Prior Provisions
A prior section 12 of act Mar. 3, 1901, ch. 872, as added by act
July 22, 1950, ch. 486, Sec. 2, 64 Stat. 373, related to equipment
purchased by Department of Commerce to carry out investigations, prior
to repeal by act Aug. 3, 1956.
Amendments
1988--Subsec. (a). Pub. L. 100-418 substituted ``Institute'' for
``National Bureau of Standards''.
1985--Subsec. (f). Pub. L. 99-73 struck out ``first'' after ``may be
applied'', and inserted provisions relating to working capital for
replacement of equipment and inventories.
1978--Subsec. (a). Pub. L. 95-322 struck out ``, and additional
amounts as from time to time may be required for the purposes of said
fund are authorized to be appropriated'' after ``(64 Stat. 275)''.
Effective Date of 1985 Amendment
Amendment by Pub. L. 99-73 effective Oct. 1, 1984, see section 5(c)
of Pub. L. 99-73, set out as an Effective Date note under section 275c
of this title.
Section Referred to in Other Sections
This section is referred to in section 275b of this title.
