[Code of Federal Regulations]
[Title 24, Volume 3]
[Revised as of April 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR570.442]

[Page 104-105]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
  CHAPTER V--OFFICE OF ASSISTANT SECRETARY FOR COMMUNITY PLANNING AND 
        DEVELOPMENT, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
 
PART 570_COMMUNITY DEVELOPMENT BLOCK GRANTS--Table of Contents
 
            Subpart F_Small Cities and Insular Areas Programs
 
Sec. 570.442  Reallocations-Insular Areas.

    (a) Any Insular Area funds that become available as a result of 
reductions under subpart O of this part, shall be reallocated in the 
same or future

[[Page 105]]

fiscal year to any remaining eligible Insular Area grantees pro rata 
according to population.
    (b) Any Insular Area grant funds for a fiscal year reserved for an 
applicant that chooses not to submit a final statement in accordance 
with Sec. 570.440 to receive such funds, shall be reallocated in the 
same or future fiscal year to any remaining eligible Insular Area 
grantees pro rata according to population.
    (c) No amounts shall be reallocated under this section in any fiscal 
year to any applicant whose grant amount in such fiscal year was reduced 
under subpart O of this part or who did not submit a final statement in 
accordance with Sec. 570.440 for that fiscal year.
    (d) Insular Area grantees receiving additional funds under this 
section will be evaluated for timeliness under Sec. 570.902 based upon 
the original grant amount plus the additional funds received. 
Accordingly, references in Sec. 570.902 to an Insular Area's grant 
amount for its current program year include such additional funds, and 
references to unexpended or undisbursed funds include such additional 
funds.

[72 FR 12536, Mar. 15, 2007]

    Effective Date Note: At 72 FR 12536, Mar. 15, 2007, Sec. 570.442 
was added, effective April 16, 2007.