Title 42, The Public Health and WelfareRelease 119-110

§12858 Transition

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

Last updated Sep 22, 2026|Official source

Summary

When the Trust ends under section 12859, the Secretary of Housing and Urban Development must take over the Board’s and Trust’s powers as needed to finish the Trust’s remaining business. Any help or programs carried out under this subchapter after the Trust ends must follow the same rules that would have applied if the Trust had not ended. If the Secretary decides the National Homeownership Trust Fund is no longer needed, the Secretary must tell the Secretary of the Treasury how much is left, and the Treasury Secretary must deposit those amounts into the general fund of the Treasury as miscellaneous receipts.

Full Legal Text

Title 42, §12858

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

(a)Authority of Secretary

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)Applicability of Trust provisions

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)Certification of Fund to Treasury

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

Sep 22, 2026

Release point: 119-110