[Code of Federal Regulations]
[Title 24, Volume 3]
[Revised as of April 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR574.540]

[Page 210]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
  CHAPTER V--OFFICE OF ASSISTANT SECRETARY FOR COMMUNITY PLANNING AND 
        DEVELOPMENT, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
 
PART 574_HOUSING OPPORTUNITIES FOR PERSONS WITH AIDS--Table of Contents
 
                     Subpart F_Grant Administration
 
Sec. 574.540  Deobligation of funds.

    HUD may deobligate all or a portion of the amounts approved for 
eligible activities if such amounts are not expended in a timely manner, 
or the proposed activity for which funding was approved is not provided 
in accordance with the approved application or action plan and the 
requirements of this regulation. HUD may deobligate any amount of grant 
funds that have not been expended within a three-year period from the 
date of the signing of the grant agreement. The grant agreement may set 
forth other circumstances under which funds may be deobligated or 
sanctions imposed.

[61 FR 7963, Feb. 29, 1996]