Title 40 — Public Buildings, Property, and WorksRelease 119-73
§3503 Revolving fund
Title 40 › Subtitle SUBTITLE II— - PUBLIC BUILDINGS AND WORKS › Part PART A— - GENERAL › Chapter CHAPTER 35— - NON-FEDERAL PUBLIC WORKS › § 3503
Summary
HUD has a revolving fund to make advances under this chapter. The fund holds money given under the chapter plus any repayments and other receipts, and up to $70,000,000 can be put into the fund as needed to carry out the chapter.
Full Legal Text
Title 40, §3503
Public Buildings, Property, and Works — Source: USLM XML via OLRC
(a)There is a revolving fund established by the Secretary of Housing and Urban Development to provide amounts for advances under this chapter. The fund comprises amounts appropriated under this chapter and all repayments and other receipts received in connection with advances made under this chapter.
(b)Not more than $70,000,000 may be appropriated to the revolving fund as necessary to carry out the purposes of this chapter.
Legislative History
Notes & Related Subsidiaries
Historical and Revision Notes
Revised SectionSource (U.S. Code)Source (Statutes at Large) 350340:462(e).Aug. 2, 1954, ch. 649, title VII, § 702(e), 68 Stat. 641; Aug. 11, 1955, ch. 783, title I, § 112, 69 Stat. 641; Pub. L. 87–70, title V, § 502(3), (4), June 30, 1961, 75 Stat. 175; Pub. L. 88–560, title VI, § 602(a), Sept. 2, 1964, 78 Stat. 799; Pub. L. 89–117, title XI, § 1104, Aug. 10, 1965, 79 Stat. 503; Pub. L. 90–19, § 10(a) (related to 40:462), May 25, 1967, 81 Stat. 22. In subsection (a), the words “heretofore or hereafter” are omitted as unnecessary. The text of 40:462(e)(2) is omitted as obsolete. Title V of the War Mobilization and Reconversion Act of 1944 (50 App.:1671) terminated on June 30, 1947. The Act of October 13, 1949 (40:451 et seq.) authorized the Housing and Home Finance Administrator to make certain loans and advances for the 2-year period immediately following October 13, 1951. In subsection (b), the words “in addition to amounts authorized to be appropriated for the purposes of this section before September 2, 1964” are omitted as executed.
Reference
Citations & Metadata
Citation
40 U.S.C. § 3503
Title 40 — Public Buildings, Property, and Works
Last Updated
Apr 6, 2026
Release point: 119-73