[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 212]

 

                 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]