DEPOTS Act

This bill grants the Secretary of Defense the authority to write off or eliminate specific internal Department of Defense accounting charges for its depots and arsenals. These charges include remaining depreciation or internal debt associated with capital assets that have ceased generating revenue due to federal government-directed mission realignments. The authority is strictly limited to internal financial balances within military department or DoD accounts, explicitly excluding payments owed to commercial contractors. Furthermore, any such write-offs must be executed in a manner that ensures the recovery of any previous cash outlay from a revolving fund. The Secretary may also delegate this authority to the Secretary of a military department.