HOUSE BILL NO. 355
AN ACT TO AMENDING CHAPTER 61, TITLE 29 OF THE DELAWARE CODE RELATING TO THE ESTABLISHMENT AND MAINTENANCE OF AN INDIRECT COSTS SPECIAL FUND ACCOUNT.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. Amend Section 6102, Chapter 61, Title 29 of the Delaware Code by adding a new subsection (k) to read as follows:
"(k) Provisions of this chapter to the contrary notwithstanding, the Office of the Budget is authorized to establish and maintain a special fund for the purposes of improving Statewide. Departmental, and Divisional indirect cost recoveries from programs financed in whole or in part with federal funds. The Budget Director, with the approval of the Controller General, may enter into such contracts and employ such people or services as he deems necessary to increase the amounts of and monitor the receipt of Indirect cost recoveries to the State of Delaware. Specifically, this fund may reimburse the State Auditor's Office for federal audits performed if the audited agency has deposited sufficient federal funds to compensate the Auditor of Accounts for services rendered. Federal reimbursements deposited in such special fund, and not required to carry out the purposes described in this section, shall be transferred to the General Fund. The Budget Director will make periodic reports of progress toward increased indirect cost reimbursements to the Delaware State Clearinghouse Committee at such time as the Chairman may determine."
Section 2. This Act shall become effective on July 1, 1985.
Approved July 12, 1985.