(a) Existence. - There is an Information Technology Fund in the Treasury. (b) Cost and Capital Requirements. - (1) In general. - The Administrator of General Services shall determine the cost and capital requirements of the Fund for each fiscal year. The cost and capital requirements may include amounts - (A) needed to purchase (if the Administrator has determined that purchase is the least costly alternative) information processing and transmission equipment, software, systems, and operating facilities necessary to provide services; (B) resulting from operations of the Fund, including the net proceeds from the disposal of excess or surplus personal property and receipts from carriers and others for loss or damage to property; and (C) that are appropriated, authorized to be transferred, or otherwise made available to the Fund. (2) Submitting plans to office of management and budget. - The Administrator shall submit plans concerning the cost and capital requirements determined under this section, and other information as may be requested, for review and approval by the Director of the Office of Management and Budget.

Plans submitted under this section fulfill the requirements of sections 1512 and 1513 of title 31. (3) Adjustments. - Any change to the cost and capital requirements of the Fund for a fiscal year shall be made in the same manner as the initial fiscal year determination. (c) Use. - (1) In general. - The Fund is available for expenses, including personal services and other costs, and for procurement (by lease, purchase, transfer, or otherwise) to efficiently provide information technology resources to federal agencies and to efficiently manage, coordinate, operate, and use those resources. (2) Specifically included items. - Information technology resources provided under this section include information processing and transmission equipment, software, systems, operating facilities, supplies, and related services including maintenance and repair. (3) Cancellation costs. - Any cancellation costs incurred for a contract entered into under subsection (e) shall be paid from money currently available in the Fund. (4) No fiscal year limitation. - The Fund is available without fiscal year limitation. (d) Charges to Agencies. - If the Director approves plans submitted by the Administrator under subsection (b), the Administrator shall establish rates, consistent with the approval, to be charged to agencies for information technology resources provided through the Fund. (e) Contract Authority. - (1) In general. - In operating the Fund, the Administrator may enter into multiyear contracts, not longer than 5 years, to provide information technology hardware, software, or services if - (A) amounts are available and adequate to pay the costs of the contract for the first fiscal year and any costs of cancellation or termination; (B) the contract is awarded on a fully competitive basis; and (C) the Administrator determines that - (i) the need for the information technology hardware, software, or services being provided will continue over the period of the contract; (ii) the use of the multiyear contract will yield substantial cost savings when compared with other methods of providing the necessary resources; and (iii) the method of contracting will not exclude small business participation. (2) Effect on other law. - This subsection does not limit the authority of the Administrator to procure equipment and services under sections 501-505 of this title. (f) Transfer of Uncommitted Balance. - After the close of each fiscal year, any uncommitted balance remaining in the Fund, after making provision for anticipated operating needs as determined by the Office of Management and Budget, shall be transferred to the Treasury as miscellaneous receipts. (g) Annual Report. - The Administrator shall report annually to the Director on the operation of the Fund. The report must address the inventory, use, and acquisition of information processing equipment and identify any proposed increases to the capital of the Fund.