Title 42 — The Public Health and WelfareRelease 119-73
§1437q Financing limitations
Title 42 › Chapter CHAPTER 8— - LOW-INCOME HOUSING › Subchapter SUBCHAPTER I— - GENERAL PROGRAM OF ASSISTED HOUSING › § 1437q
Summary
Starting October 1, 1983, the Secretary can only agree to yearly contribution contracts to finance public housing when the financing obligations are tax‑exempt. The Secretary cannot sign contracts to make periodic payments to the Federal Financing Bank to cover its costs of buying those obligations.
Full Legal Text
Title 42, §1437q
The Public Health and Welfare — Source: USLM XML via OLRC
On and after October 1, 1983, the Secretary—
(1)may only enter into contracts for annual contributions regarding obligations financing public housing projects authorized by section 1437c(c) of this title if such obligations are exempt from taxation under section 1437i(b) of this title, or if such obligations are issued under section 1437b of this title and such obligations are exempt from taxation; and
(2)may not enter into contracts for periodic payments to the Federal Financing Bank to offset the costs to the Bank of purchasing obligations (as described in the first sentence of section 2294(b) of title 12) issued by local public housing agencies for purposes of financing public housing projects authorized by section 1437c(c) of this title.
Reference
Citations & Metadata
Citation
42 U.S.C. § 1437q
Title 42 — The Public Health and Welfare
Last Updated
Apr 6, 2026
Release point: 119-73