[Code of Federal Regulations]

[Title 24, Volume 4]

[Revised as of April 1, 2006]

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

[CITE: 24CFR990.210]



[Page 719]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 

               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 990_THE PUBLIC HOUSING OPERATING FUND PROGRAM--Table of Contents

 

        Subpart E_Determination and Payment of Operating Subsidy

 

Sec.  990.210  Payment of operating subsidy.



    (a) Payments of operating subsidy under the formula. HUD shall make 

monthly payments equal to \1/12\ of a PHA's total annual operating 

subsidy under the formula by electronic funds transfers through HUD's 

automated disbursement system. HUD shall establish thresholds that 

permit PHAs to request monthly installments. Requests by PHAs that 

exceed these thresholds will be subject to HUD review. HUD approvals of 

requests that exceed these thresholds are limited to PHAs that have an 

unanticipated and immediate need for disbursement.

    (b) Payments procedure. In the event that the amount of operating 

subsidy has not been determined by HUD as of the beginning of the 

funding period, operating subsidy shall be provided monthly, quarterly, 

or annually based on the amount of the PHA's previous year's formula or 

another amount that HUD may determine to be appropriate.

    (c) Availability of funds. In the event that insufficient funds are 

available, HUD shall have discretion to revise, on a pro rata basis, the 

amounts of operating subsidy to be paid to PHAs.