ACCOUNT

SEC. 2906. ACCOUNT (a) In General.— (1) There is hereby established on the books of the Treasury an account to be known as the “Department of Defense Base Closure Account 1990” which shall be administered by the Secretary as a single account. (2) There shall be deposited into the Account— (A) funds authorized for and appropriated to the Account; (B) any funds that the Secretary may, subject to approval in an appropriation Act, transfer to the Account from funds appropriated to the Department of Defense for any purpose, except that such funds may be transferred only after the date on which the Secretary transmits written notice of, and justification for, such transfer to the congressional defense committees; and 104 STAT. 1816 (C) proceeds received from the transfer or disposal of any property at a military installation closed or realigned under this part. (b) Use of Funds.— (1) The Secretary may use the funds in the Account only for the purposes described in section 2905(a). (2) When a decision is made to use funds in the Account to carry out a construction project under section 2905(a) and the cost of the project will exceed the maximum amount authorized by law for a minor military construction project, the Secretary shall notify in writing the congressional defense committees of the nature of, and justification for, the project and the amount of expenditures for such project. Any such construction project may be carried out without regard to section 2802(a) of title 10, United States Code. (c) Reports.— (1) No later than 60 days after the end of each fiscal year in which the Secretary carries out activities under this part, the Secretary shall transmit a report to the congressional defense committees of the amount and nature of the deposits into, and the expenditures from, the Account during such fiscal year and of the amount and nature of other expenditures made pursuant to section 2905(a) during such fiscal year. (2) Unobligated funds which remain in the Account after the termination of the Commission shall be held in the Account until transferred by law after the congressional defense committees receive the report transmitted under paragraph (3). (3) No later than 60 days after the termination of the Commission, the Secretary shall transmit to the congressional defense committees a report containing an accounting of— (A) all the funds deposited into and expended from the Account or otherwise expended under this part; and (B) any amount remaining in the Account.