CAPITAL ASSET SUBACCOUNT.

SEC. 342. CAPITAL ASSET SUBACCOUNT. (a) Use of Subaccount for Capital Assets Depreciation Charges.—Charges for goods and services provided through the Defense Business Operations Fund shall include amounts for depreciation of capital assets, set in accordance with generally accepted accounting principles. Amounts charged for depreciation shall be credited to a separate capital asset subaccount established within the Fund. The subaccount shall be available only for the payment of outlays for capital assets for the Fund. (b) Award of Contracts.—The Secretary of Defense may award contracts for capital assets of the Fund in advance of the availability of funds in the subaccount, to the extent provided for in appropriations Acts. (c) Annual Report.—The Secretary of Defense shall submit to the congressional defense committees each year, at the same time that the President submits the budget to the Congress under section 1105 of title 31, United States Code, a report that specifies— (1) the opening balance of the subaccount as of the beginning of the fiscal year in which the report is submitted; (2) the estimated amounts to be credited to the subaccount in the fiscal year in which the report is submitted; 106 STAT. 2377 (3) the estimated amounts of outlays to be paid out of the subaccount in the fiscal year in which the report is submitted; (4) the estimated balance of the subaccount at the end of the fiscal year in which the report is submitted; and (5) a statement of how much of the estimated balance at the end of the fiscal year in which the report is submitted will be needed to pay outlays in the immediately following fiscal year that are in excess of the amount to be credited to the subaccount in the immediately following fiscal year. (d) Authorization.—There is hereby authorized to be appropriated to the Fund subaccount for fiscal years 1993 and 1994 such sums as may be necessary to pay, during fiscal year 1993 and until April 15, 1994, outlays for capital assets in excess of the amount otherwise available in the subaccount. (e) Definitions.—For purposes of this section: (1) The term “capital assets” means the following capital assets that have a development or acquisition cost of not less than $15,000: (A) Minor construction projects financed by the Fund pursuant to section 2805(c)(1) of title 10, United States Code. (B) Automatic data processing equipment, software, other equipment, and other capital improvements. (2) The term “Fund” means the Defense Business Operations Fund.