49 U.S. Code § 5566 - Records and audits

(a) Record Requirements.— Each recipient of financial assistance under this chapter shall keep records required by the Secretary of Transportation. The records shall disclose—
(1) the amount, and disposition by the recipient, of the proceeds of the assistance;
(2) the total cost of the project for which the assistance was given or used;
(3) the amount of that part of the cost of the project supplied by other sources; and
(4) any other records that will make an effective audit easier.
(b) Audits and Inspections.— For 3 years after a project is completed, the Secretary and the Comptroller General may audit and inspect records of a recipient that the Secretary or Comptroller General decides may be related or pertinent to the financial assistance.

Source

(Pub. L. 103–272, § 1(d),July 5, 1994, 108 Stat. 853.)

Historical and Revision Notes
Revised Section Source (U.S. Code) Source (Statutes at Large)
5566(a) 49 App.:1653(i)(8) (1st sentence). Oct. 15, 1966, Pub. L. 89–670, 80 Stat. 931, § 4(i)(8); added Oct. 28, 1974, Pub. L. 93–496, §§ 6, 15, 88 Stat. 1530, 1533; Feb. 5, 1976, Pub. L. 94–210, § 707(3), 90 Stat. 125; May 30, 1980, Pub. L. 96–254, § 206(a), 94 Stat. 412.
5566(b) 49 App.:1653(i)(8) (last sentence).

In this section, the word “undertaking” is omitted as being included in “project”.
In subsection (a), before clause (1), the word “fully” is omitted as surplus.
In subsection (b), the words “the expiration of” and “of the United States” are omitted as surplus. The words “or any of their duly authorized representatives” are omitted as unnecessary because of 49:322(b) and 31:711(2). The words “may audit and inspect” are substituted for “shall have access for the purpose of audit and examination” for consistency in the revised title and with other titles of the United States Code. The word “recipient” is substituted for “such receipts” to correct an error in the underlying source provisions.

This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.


49 CFR - Transportation

49 CFR Part 256 - FINANCIAL ASSISTANCE FOR RAILROAD PASSENGER TERMINALS

 

LII has no control over and does not endorse any external Internet site that contains links to or references LII.