H.R. 10046

DEPOTS Act

Sponsor: Michael Cloud · 0 cosponsors

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Sec. 2. Capital expenditure write-offs for Department of Defense depots and arsenals

(a) Write-Offs

(1) In general. With respect to any depot or arsenal of the Department of Defense, the Secretary of Defense may write-off or eliminate any internal Department accounting charges, such as remaining depreciation or internal debt from an account of a military department or the Department associated with capital assets that do not generate revenue due to mission realignments directed by the Federal Government.

(2) Recovery of outlays. Write-offs under paragraph (1) shall be done in a manner than ensures any previous cash outlay from a revolving fund is recovered.

(3) Application of authority. The authority under paragraph (1) applies only to financial balances within the accounts of a military department or the Department of Defense, not to payments owed to commercial contractors.

(b) Delegation. The Secretary may delegate the authority under subsection (a) to the Secretary of a military department.