Indirect Costs Law and Legal Definition
According to 31 CFR 205.2 [Title 31 -- Money and Finance: Treasury; Subtitle B -- Regulations Relating to Money and Finance; Chapter II -- Fiscal Service, Department of the Treasury; Subchapter A -- Financial Management Service Part 205 -- Rules and Procedures for Efficient Federal-State Funds Transfers], indirect costs means “costs a State incurs that are necessary to the operation and performance of its Federal assistance programs, but that are not readily identifiable with a particular project or Federal assistance program.”
