DEPOTS Act

Key Points

• This bill allows the Department of Defense to clear old debts and costs from its internal accounting books. It specifically targets military depots and arsenals where the government has changed the mission, leaving equipment or buildings that no longer bring in money.
• Military depots often have to carry the cost of expensive equipment on their books for years. If the military decides to stop using that equipment before it is paid off, the depot is stuck with a debt that makes their budget look worse than it actually is.
• By clearing these internal debts, the bill helps military facilities focus their budgets on current needs rather than paying for the past. This only applies to money owed within the government and does not cancel any debts owed to private companies or contractors.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.