40 U.S.C. § 3505 — Forgiveness of outstanding advances
submitted 24 years ago by Pub. L. 107-217 to r/title-40-PUBLIC-BUILDINGS-PROPERTY-AND-WORKS · 64 words · no verdicts yet
Advances made under this chapter with principal outstanding on February 5, 1988, were forgiven under the Secretary’s accounting procedures. Contract promises to repay those advances were canceled.
In accordance with accounting and other procedures the Secretary of Housing and Urban Development prescribes, each advance made by the Secretary under this chapter that had any principal amount outstanding on February 5, 1988 , was forgiven. The terms and conditions of any contract, or any amendment to a contract, for that advance with respect to any promise to repay the advance were canceled.
In accordance with accounting and other procedures the Secretary of Housing and Urban Development prescribes, each advance made by the Secretary under this chapter that had any principal amount outstanding on February 5, 1988, was forgiven. The terms and conditions of any contract, or any amendment to a contract, for that advance with respect to any promise to repay the advance were canceled.
Source credit: (Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1168.)
- 2002Enacted · Pub. L. 107-217 · 116 Stat. 1168
A history note hasn’t been published yet. The record shows enactment by Pub. L. 107-217 on 2002-08-21.
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