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TITLE 42 > CHAPTER 129 > SUBCHAPTER I > Division D > § 12605
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§ 12605. Process of approval of national service positions

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(a) Definitions
In this section, the terms “approved national service position” and “Corporation” have the meanings given the terms in section 101 of the National and Community Service Act of 1990 (42 U.S.C. 12511).
(b) Timing and recording requirements
(1) In general
Notwithstanding subtitles C and D of title I of the National and Community Service Act of 1990 (42 U.S.C. 12571 et seq., 12601 et seq.), and any other provision of law, in approving a position as an approved national service position, the Corporation—
(A) shall approve the position at the time the Corporation—
(i) enters into an enforceable agreement with an individual participant to serve in a program carried out under subtitle E of title I of that Act (42 U.S.C. 12611 et seq.) or title I of the Domestic Volunteer Service Act of 1973 (42 U.S.C. 4951 et seq.); or
(ii) except as provided in clause (i), awards a grant to (or enters into a contract or cooperative agreement with) an entity to carry out a program for which such a position may be approved under section 123 of the National and Community Service Act of 1990 (42 U.S.C. 12573); and
(B) shall record as an obligation an estimate of the net present value of the national service educational award associated with the position, based on a formula that takes into consideration historical rates of enrollment in such a program, and of earning and using national service educational awards for such a program.
(2) Formula
In determining the formula described in paragraph (1)(B), the Corporation shall consult with the Director of the Congressional Budget Office.
(3) Certification report
The Chief Executive Officer of the Corporation shall annually prepare and submit to Congress a report that contains a certification that the Corporation is in compliance with the requirements of paragraph (1).
(4) Approval
The requirements of this subsection shall apply to each approved national service position that the Corporation approves—
(A) during fiscal year 2003 (before or after July 3, 2003); and
(B) during any subsequent fiscal year.
(c) Reserve account
(1) Establishment and contents
(A) Establishment
Notwithstanding subtitles C and D of title I of the National and Community Service Act of 1990 (42 U.S.C. 12571 et seq., 12601 et seq.), and any other provision of law, within the National Service Trust established under section 145 of the National and Community Service Act of 1990 (42 U.S.C. 12601), the Corporation shall establish a reserve account.
(B) Contents
To ensure the availability of adequate funds to support the awards of approved national service positions for each fiscal year, the Corporation shall place in the account—
(i) during fiscal year 2003, a portion of the funds that were appropriated for fiscal year 2003 or a previous fiscal year under section 501 (a)(2) (42 U.S.C. 12681 (a)(2)), were made available to carry out subtitle C or D of title I of that Act, and remain available; and
(ii) during fiscal year 2004 or a subsequent fiscal year, a portion of the funds that were appropriated for that fiscal year under section 501 (a)(2) and were made available to carry out subtitle C or D of title I of that Act.
(2) Obligation
The Corporation shall not obligate the funds in the reserve account until the Corporation—
(A) determines that the funds will not be needed for the payment of national service educational awards associated with previously approved national service positions; or
(B) obligates the funds for the payment of such awards for such previously approved national service positions.
(d) Audits
The accounts of the Corporation relating to the appropriated funds for approved national service positions, and the records demonstrating the manner in which the Corporation has recorded estimates described in subsection (b)(1)(B) of this section as obligations, shall be audited annually by independent certified public accountants or independent licensed public accountants certified or licensed by a regulatory authority of a State or other political subdivision of the United States in accordance with generally accepted auditing standards. A report containing the results of each such independent audit shall be included in the annual report required by subsection (b)(3) of this section.
(e) Availability of amounts
Except as provided in subsection (c) of this section, all amounts included in the National Service Trust under paragraphs (1), (2), and (3) of section 145(a) of the National and Community Service Act of 1990 (42 U.S.C. 12601 (a)) shall be available for payments of national service educational awards under section 148 of that Act (42 U.S.C. 12604).
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