[Code of Federal Regulations]

[Title 24, Volume 1]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR84.24]



[Page 486]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

PART 84_UNIFORM ADMINISTRATIVE REQUIREMENTS FOR GRANTS AND AGREEMENTS 

WITH INSTITUTIONS OF HIGHER EDUCATION, HOSPITALS, AND OTHER NON-PROFIT 

ORGANIZATIONS--Table of Contents

 

                    Subpart C_Post-Award Requirements

 

Sec.  84.24  Program income.



    (a) HUD shall apply the standards set forth in this section in 

requiring recipient organizations to account for program income related 

to projects financed in whole or in part with Federal funds.

    (b) Except as provided in paragraph (h) of this section, program 

income earned during the project period shall be retained by the 

recipient and, in accordance with HUD regulations or the terms and 

conditions of the award, shall be used in one or more of the ways listed 

in the following.

    (1) Added to funds committed to the project by HUD and recipient and 

used to further eligible project or program objectives.

    (2) Used to finance the non-Federal share of the project or program.

    (3) Deducted from the total project or program allowable cost in 

determining the net allowable costs on which the Federal share of costs 

is based.

    (c) When HUD authorizes the disposition of program income as 

described in paragraphs (b)(1) or (b)(2) of this section, program income 

in excess of any limits stipulated shall be used in accordance with 

paragraph (b)(3) of this section.

    (d) In the event that HUD does not specify in its regulations or the 

terms and conditions of the award how program income is to be used, 

paragraph (b)(3) of this section shall apply automatically to all 

projects or programs except research. For awards that support research, 

paragraph (b)(1) of this section shall apply automatically unless HUD 

indicates in the terms and conditions another alternative on the award 

or the recipient is subject to special award conditions, as indicated in 

Sec.  84.14.

    (e) Unless HUD regulations or the terms and conditions of the award 

provide otherwise, recipients shall have no obligation to the Federal 

Government regarding program income earned after the end of the project 

period.

    (f) If authorized by HUD regulations or the terms and conditions of 

the award, costs incident to the generation of program income may be 

deducted from gross income to determine program income, provided these 

costs have not been charged to the award.

    (g) Proceeds from the sale of property shall be handled in 

accordance with the requirements of the Property Standards (See 

Sec. Sec.  84.30 through 84.37).

    (h) Unless HUD regulations or the terms and condition of the award 

provide otherwise, recipients shall have no obligation to the Federal 

Government with respect to program income earned from license fees and 

royalties for copyrighted material, patents, patent applications, 

trademarks, and inventions produced under an award. However, Patent and 

Trademark Amendments (35 U.S.C. 18) apply to inventions made under an 

experimental, developmental, or research award.