Title 42 — The Public Health and WelfareRelease 119-73not60
§1437q Financing Limitations
Title 42 › Chapter 8— LOW-INCOME HOUSING › Subchapter I— GENERAL PROGRAM OF ASSISTED HOUSING › § 1437q
Summary
Starting October 1, 1983, the Secretary must only sign annual contribution contracts for bonds that finance public housing if the bonds are tax‑exempt, including bonds under section 1437b when they are tax‑exempt. The Secretary may not make contracts to pay the Federal Financing Bank for costs of buying local public housing bonds.
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 5, 2026
Release point: 119-73not60