42 U.S.C. § 9808 — Federal share; amount; availability; ownership of property acquired with Federal financial assistance
submitted 45 years ago by Pub. L. 97-35 to r/title-42-THE-PUBLIC-HEALTH-AND-WELFARE · 264 words · no verdicts yet
Federal assistance generally may cover no more than 90 percent of a covered program’s cost. Property bought with the federal share belongs to the community development corporation, subject to a continued-use requirement when the grant relationship ends.
(a)(1) Assistance under this subchapter for a section 9807(a) program may not exceed 90 percent of total cost, including administration, unless the Secretary* finds a higher amount necessary for this subchapter’s purposes. Nonfederal contributions may be fairly valued cash or in-kind plant, equipment, or services. (2) The assistance must be made available within 30 days after grant approval either for successful grantees’ use under appropriate conditions or, when the Secretary considers appropriate, under Treasury rules and other conditions set by the Secretary of Health and Human Services. (b) Property acquired by a community development corporation* with its federal share, and proceeds from it, belong to the corporation and are not federal property. The Government may require grant-funded assets to keep serving their original purpose when the grant relationship ends.
Assistance provided under this subchapter to any program described in section 9807(a) of this title shall not exceed 90 percent of the cost of such program, including costs of administration, unless the Secretary* determines that the assistance in excess of such percentage is required in furtherance of the purposes of this subchapter. Non-Federal contributions may be in cash or in kind, fairly evaluated, including but not limited to plant, equipment, and services.
The assistance referred to in paragraph (1) shall be made available (A) for deposit to the order of grantees which have demonstrated successful program performance, under conditions which the Secretary deems appropriate, within 30 days following approval of the grant agreement by the Secretary and such grantee; or (B) whenever the Secretary deems appropriate, in accordance with applicable rules and regulations prescribed by the Secretary of the Treasury, and including any other conditions which the Secretary of Health and Human Services deems appropriate, within 30 days following approval of the grant agreement by the Secretary and such grantee.
Property acquired as a result of capital investments made by any community development corporation* with funds granted as its Federal share of the cost of programs carried out under this subchapter, and the proceeds from such property, shall become the property of the community development corporation and shall not be considered to be Federal property. The Federal Government retains the right to direct that on severance of the grant relationship the assets purchased with grant funds shall continue to be used for the original purpose for which they were granted.
Source credit: (Pub. L. 97–35, title VI, § 619, Aug. 13, 1981, 95 Stat. 493.)
- 1981Enacted · Pub. L. 97-35 · 95 Stat. 493
A history note hasn’t been published yet. The record shows enactment by Pub. L. 97-35 on 1981-08-13.
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