[Code of Federal Regulations]
[Title 45, Volume 4]
[Revised as of October 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 45CFR1386.3]

[Page 390]
 
                        TITLE 45--PUBLIC WELFARE
 
CHAPTER XIII--OFFICE OF HUMAN DEVELOPMENT SERVICES, DEPARTMENT OF HEALTH 
                           AND HUMAN SERVICES
 
PART 1386--FORMULA GRANT PROGRAMS--Table of Contents
 
                      Subpart A--Basic Requirements
 
Sec. 1386.3  Liquidation of obligations.

    (a) All obligations incurred pursuant to a grant made under the Act 
for a specific Federal fiscal year, must be liquidated within two years 
of the close of the Federal fiscal year in which the grant was awarded.
    (b) The Commissioner may waive the requirements in paragraph (a) of 
this section when State law impedes implementation or the amount of 
obligated funds to be liquidated is in dispute.
    (c) Funds attributable to obligations which are not liquidated in 
accordance with the provisions of this section revert to the Federal 
Government.