Spending flexibility

(a) Reinvestment of unobligated and expiring funds Section 196 of the National and Community Service Act of 1990 (42 U.S.C. 12651g) is amended by adding at the end the following: (d) Reinvestment of unobligated and expiring funds (1) Establishment of fund There is established in the Treasury of the United States a fund to be known as the Unobligated and Expiring Amounts Fund, referred to in this subsection as the Fund. (2) Amounts in fund (A) In general Subject to subparagraph (B), any amounts appropriated for expenses of the Corporation to carry out the national service laws that are unobligated and would otherwise expire on September 30 of a fiscal year shall, on such September 30 of that fiscal year, be transferred to the Fund and remain available until expended. (B) Inspector general opinion The Corporation may only make a transfer under subparagraph (A) of amounts described in such subparagraph that are unobligated and would otherwise expire on— (i) September 30 of the first fiscal year in which the Inspector General of the Corporation has issued an opinion, without qualification, certifying the accuracy of the Corporation's financial statements issued through the integrated accounting and financial management system maintained under section 194(c)(2) with respect to the fiscal year preceding such fiscal year; or (ii) September 30 of each fiscal year thereafter. (3) Use of fund The Corporation may use amounts available in the Fund to— (A) provide for additional awards and deposits of funds for positions under section 121 of this Act and sections 102, 201, 211, and 213 of the Domestic Volunteer Service Act of 1973 (42 U.S.C. 4952, 5001, 5011, 5013); or (B) modernize technology used in the administration of the national service laws.. (b) Expenditure of investment income in the National Service Trust (1) In general Section 145(c) of the National and Community Service Act of 1990 (42 U.S.C. 12601(c)) is amended— (A) by redesignating paragraphs (1) and (2) as subparagraphs (A) and (B), respectively, and indenting appropriately; (B) in the matter preceding subparagraph (A) (as so redesignated)— (i) by striking to the extent provided for in advance by appropriation and inserting as described in paragraph (2); and (ii) by striking Amounts and inserting the following: (1) Use of amounts in trust Amounts; and (C) by adding at the end the following: (2) Availability of amounts in trust (A) Appropriations Amounts in the National Service Trust that are described in paragraph (1) of subsection (a) shall be available under paragraph (1) of this subsection to the extent provided for in advance by appropriation. (B) Other amounts Amounts in the National Service Trust that are described in paragraph (2), (3), (4), or (5) of subsection (a) shall be available under paragraph (1) of this subsection without further appropriation and without fiscal year limitation.. (2) Conforming amendment Section 149 of the National and Community Service Act of 1990 (42 U.S.C. 12606) is amended by striking subsection (d).