24 CFR 92.502 - Program disbursement and information system.

§ 92.502 Program disbursement and information system.

(a)General. The HOME Investment Trust Fund account established in the United States Treasury is managed through a computerized disbursement and information system established by HUD. The system disburses HOME funds that are allocated or reallocated, and collects and reports information on the use of HOME funds in the United States Treasury account. (For purposes of reporting in the Integrated Disbursement and Information System, a HOME project is an activity.) The participating jurisdiction must report all program income in HUD's computerized disbursement and information system.

(b)Project set-up. After the participating jurisdiction executes the HOME Investment Partnership Agreement, submits the applicable banking and security documents, complies with the environmental requirements under 24 CFR part 58 for release of funds and commits funds to a specific local project, the participating jurisdiction may identify (set up) specific investments in the disbursement and information system. Investments that require the set-up of projects in the system are the acquisition, new construction, or rehabilitation of housing, and the provision of tenant-based rental assistance. The participating jurisdiction is required to enter complete project set-up information at the time of project set-up.

(c)Disbursement of HOME funds.

(1) After complete project set-up information is entered into the disbursement and information system, HOME funds for the project may be drawn down from the United States Treasury account by the participating jurisdiction by electronic funds transfer. The funds will be deposited in the local account of the HOME Investment Trust Fund of the participating jurisdiction within 48 to 72 hours of the disbursement request. Any drawdown of HOME funds from the United States Treasury account is conditioned upon the provision of satisfactory information by the participating jurisdiction about the project or tenant-based rental assistance and compliance with other procedures, as specified by HUD.

(2) HOME funds drawn from the United States Treasury account must be expended for eligible costs within 15 days. Any interest earned within the 15-day period may be retained by the participating jurisdiction as HOME funds. Any funds that are drawn down and not expended for eligible costs within 15 days of the disbursement must be returned to HUD for deposit in the participating jurisdiction's United States Treasury account of the HOME Investment Trust Fund. Interest earned after 15 days belongs to the United States and must be remitted to the United States as provided in 2 CFR 200.305(b)(9), except interest amounts up to $500 per year may be retained for administrative expenses.

(3) HOME funds in the local account of the HOME Investment Trust Fund must be disbursed before requests are made for HOME funds in the United States Treasury account. Beginning with the Fiscal Year 2015 allocation, the specific funds that are committed to a project will be disbursed for that project. If both funds in the local account and funds in the United States Treasury account are committed to a project, the funds in the local account must be disbursed before requests are made for HOME funds in the United States Treasury account for the project.

(4) A participating jurisdiction will be paid on an advance basis provided it complies with the requirements of this part.

(d)Project completion.

(1) Complete project completion information must be entered into the disbursement and information system, or otherwise provided, within 120 days of the final project drawdown. If satisfactory project completion information is not provided, HUD may suspend further project set-ups or take other corrective actions.

(2) Additional HOME funds may be committed to a project up to one year after project completion, but the amount of HOME funds in the project may not exceed the maximum per-unit subsidy amount established under § 92.250.

(e)Access by other participants. Access to the disbursement and information system by other entities participating in the HOME program (e.g., State recipients) will be governed by procedures established by HUD. Only participating jurisdictions and State recipients (if permitted by the State) may request disbursement.

[ 61 FR 48750, Sept. 16, 1996, as amended at 78 FR 44679, July 24, 2013; 80 FR 75935, Dec. 7, 2015; 81 FR 86952, Dec. 2, 2016]

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

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.


United States Code
U.S. Code: Title 42 - THE PUBLIC HEALTH AND WELFARE

§ 3535 - Administrative provisions

§ 12701 - National housing goal

§ 12702 - Objective of national housing policy

§ 12703 - Purposes of Cranston-Gonzalez National Affordable Housing Act

§ 12704 - Definitions

§ 12705 - State and local housing strategies

§ 12705a - Purposes of Removal of Regulatory Barriers to Affordable Housing Act

§ 12705b - Definition of regulatory barriers to affordable housing

§ 12705c - Grants for regulatory barrier removal strategies and implementation

§ 12705d - Regulatory barriers clearinghouse

§ 12706 - Certification

§ 12707 - Citizen participation

§ 12708 - Compliance

§ 12709 - Energy efficiency standards

§ 12710 - Capacity study

§ 12711 - Protection of State and local authority

§ 12712 - 5-year energy efficiency plan

§ 12713 - Eligibility under first-time homebuyer programs

§ 12714 - Repealed. Pub. L. 104–99, title IV, § 404(a), Jan. 26, 1996, 110 Stat. 44

§ 12721 - Findings

§ 12722 - Purposes

§ 12723 - Coordinated Federal support for housing strategies

§ 12724 - Authorization

§ 12725 - Notice

§ 12741 - Authority

§ 12742 - Eligible uses of investment

§ 12743 - Development of model programs

§ 12744 - Income targeting

§ 12745 - Qualification as affordable housing

§ 12746 - Participation by States and local governments

§ 12747 - Allocation of resources

§ 12748 - HOME Investment Trust Funds

§ 12749 - Repayment of investment

§ 12750 - Matching requirements

§ 12751 - Private-public partnership

§ 12752 - Distribution of assistance

§ 12753 - Penalties for misuse of funds

§ 12754 - Limitation on jurisdictions under court order

§ 12755 - Tenant and participant protections

§ 12756 - Monitoring of compliance

§ 12771 - Set-aside for community housing development organizations

§ 12772 - Project-specific assistance to community housing development organizations

§ 12773 - Housing education and organizational support

§ 12774 - Other requirements

§ 12781 - Authority

§ 12782 - Priorities for capacity development

§ 12783 - Conditions of contracts

§ 12784 - Research in housing affordability

§ 12785 - REACH: asset recycling information dissemination

§ 12801 - General authority

§ 12802 - Rental housing production

§ 12803 - Rental rehabilitation

§ 12804 - Rehabilitation loans

§ 12805 - Sweat equity model program

§ 12806 - Home repair services grants for older and disabled homeowners

§ 12807 - Low-income housing conservation and efficiency grant programs

§ 12808 - Second mortgage assistance for first-time homebuyers

§ 12809 - Rehabilitation of State and local government in rem properties

§ 12810 - Cost-saving building technologies and construction techniques

§ 12821 - Omitted

§ 12831 - Equal opportunity

§ 12832 - Nondiscrimination

§ 12833 - Audits by Comptroller General

§ 12834 - Uniform recordkeeping and reports to Congress

§ 12835 - Citizen participation

§ 12836 - Labor

§ 12837 - Interstate agreements

§ 12838 - Environmental review

§ 12839 - Termination of existing housing programs

Title 24 published on 09-Jun-2018 03:51

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 24 CFR Part 92 after this date.

  • 2016-12-20; vol. 81 # 244 - Tuesday, December 20, 2016
    1. 81 FR 92626 - Narrowing the Digital Divide Through Installation of Broadband Infrastructure in HUD-Funded New Construction and Substantial Rehabilitation of Multifamily Rental Housing
      GPO FDSys XML | Text
      DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, Office of the Secretary, HUD
      Final rule.
      Effective date: January 19, 2017.
      24 CFR Parts 5, 92, 93, 570, 574, 578, 880, 881, 883, 884, 886, 891, 905, 983