Title 42 — The Public Health and WelfareRelease 119-73

§12858 Transition

Title 42 › Chapter CHAPTER 130— - NATIONAL AFFORDABLE HOUSING › Subchapter SUBCHAPTER III— - NATIONAL HOMEOWNERSHIP TRUST DEMONSTRATION › § 12858

Last updated Apr 6, 2026|Official source

Summary

When the Trust ends, the HUD Secretary must take over the Trust’s and its board’s powers to finish any remaining business. Any help given under this part will still follow the same rules it would have if the Trust had not ended. If the HUD Secretary decides the National Homeownership Trust Fund is no longer needed, HUD must tell the Treasury how much is left, and the Treasury must put that money into the general fund as miscellaneous receipts.

Full Legal Text

Title 42, §12858

The Public Health and Welfare — Source: USLM XML via OLRC

(a)Upon the termination of the Trust as provided in section 12859 of this title, the Secretary of Housing and Urban Development shall exercise any authority of the Board of Directors and the Trust in accordance with the provisions of this subchapter as may be necessary to provide for the conclusion of the outstanding affairs of the Trust.

(b)Any assistance under this subchapter shall, after termination of the Trust, be subject to the provisions of this subchapter that would have applied to such assistance if the termination had not occurred.

(c)Upon a determination by the Secretary of Housing and Urban Development that the National Homeownership Trust Fund is no longer necessary, the Secretary shall certify any amounts remaining in the Fund to the Secretary of the Treasury and the Secretary of the Treasury shall deposit into the general fund of the Treasury as miscellaneous receipts any amounts remaining in the Fund.

Reference

Citations & Metadata

Citation

42 U.S.C. § 12858

Title 42 — The Public Health and Welfare

Last Updated

Apr 6, 2026

Release point: 119-73