DEPOTS Act

This bill would allow the Secretary of Defense to write off internal accounting charges, such as remaining depreciation or internal debt, tied to Department of Defense depots and arsenals. The write-offs would apply to capital assets that no longer generate revenue because of mission changes directed by the federal government. Write-offs would have to be done in a way that recovers any earlier cash spent from a revolving fund. The authority covers only balances inside Department of Defense or military department accounts, not money owed to commercial contractors, and the Secretary could delegate it to the head of a military department.

Full text and official record on Congress.gov

Sponsors

• Michael Cloud Republican sponsor
• 0 cosponsors