Page:United States Statutes at Large Volume 110 Part 1.djvu/433

 PUBLIC LAW 104-10&—FEB. 10, 1996 110 STAT. 409 "(A) making an expenditure for which there is no corresponding obligation; or "(B) making an expenditure that would satisfy an unliquidated or unrecorded obligation arising in a prior fiscal year. "(f) TRANSFER OF FUNDS.— (1) The Secretary of Defense may transfer funds in the Defense Modernization Account to appropriations available for purposes set forth in subsection (d). "(2) Funds in the Defense Modernization Account may not Notification. be transferred under paragraph (1) until 30 days after the date on which the Secretary concerned notifies the congressional defense committees in writing of the amount and purpose of the proposed transfer. "(3) The total amount of transfers from the Defense Modernization Account during any fiscal year under this subsection may not exceed $500,000,000. " (g) AVAILABILITY OF FUNDS BY APPROPRIATION.— In addition to transfers under subsection (f), funds in the Defense Modernization Account may be made available for purposes set forth in subsection (d) in accordance with the provisions of appropriations Acts, but only to the extent authorized in an Act other than an appropriations Act. "(h) SECRETARY TO ACT THROUGH COMPTROLLER.—The Secretary of Defense shall carry out this section through the Under Secretary of Defense (Comptroller), who shall be authorized to implement this section through the issuance of any necessary regulations, policies, and procedures after consultation with the General Counsel and Inspector General of the Department of Defense. "(i) QUARTERLY REPORTS.— (1) Not later than 15 days after the end of each calendar quarter, the Secretary of Defense shall submit to the congressional committees specified in paragraph (2) a report on the Defense Modernization Account. Each such report shall set forth the following: "(A) The amount and source of each credit to the account during that quarter. "(B) The amount and purpose of each transfer from the account during that quarter. "(C) The balance in the account at the end of the quarter and, of such balance, the amount attributable to transfers to the account from each Secretary concerned. "(2) The committees referred to in paragraph (1) are the congressional defense committees and the Committee on Governmental Affairs of the Senate and the Committee on Government Reform and Oversight of the House of Representatives. "(j) DEFINITIONS.— In this section: "(1) The term 'Secretary concerned' includes the Secretary of Defense with respect to Defense-wide appropriations accounts. "(2) The term 'unexpired funds' means funds appropriated for a definite period that remain available for obligation. "(3) The term 'congressional defense committees' means— "(A) the Committee on Armed Services and the Committee on Appropriations of the Senate; and "(B) the Committee on National Security and the Committee on Appropriations of the House of Representatives.".

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