Pub. L. 92-181, tit. V, pt. B, sec. 5.16

Allocation of Expenses for Administrative Services by the Farm Credit Administration; Disposition of Money.—

EnactedYear: 1971Length: 272 wordsOfficial source
Sec. 5.16. Allocation of Expenses for Administrative Services by the Farm Credit Administration; Disposition of Money.— (a) The Farm Credit Administration shall prior to the first day of each fiscal year estimate the cost of administrative expenses for the ensuing fiscal year in administering this Act, including official functions, and shall apportion the amount so determined among the institutions of the System on such equitable basis as the Farm Credit Administration shall determine, and shall assess against and collect in advance the amounts so apportioned from the institutions among which the apportionment is made. (b) The amounts collected pursuant to subsection (a) of this section shall be covered into the Treasury, and credited to a special fund and, without regard to other law, shall be available to said Adminis-85 Stat. 621tration for expenditure during each fiscal year for salaries and expenses of said Administration. As soon as practicable after the end of each such fiscal year, the Administration snail determine, on a fair and reasonable basis, the cost of operation of the Farm Credit Administration and the part thereof which fairly and equitably should be allocated to each bank and association as its share of the cost during the fiscal year of such Administration. If the amount so allocated is greater than the amount collected from the bank or other institutions, the difference shall be collected from such bank or other institutions, and, if less, shall be refunded from the special fund to the bank or other institutions entitled thereto or credited in the special fund to such bank or other institutions for use for the same purposes in future fiscal years.
Pub. L. 92-181, tit. V, pt. B, sec. 5.16: Allocation of Expenses for Administrative Services by the Farm Credit Administration; Disposition of Money.— | Justis AI