
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 42USC1437h]

 
                 TITLE 42--THE PUBLIC HEALTH AND WELFARE
 
                      CHAPTER 8--LOW-INCOME HOUSING
 
            SUBCHAPTER I--GENERAL PROGRAM OF ASSISTED HOUSING
 
Sec. 1437h. Implementation of provisions by Secretary


(a) Preparation and submission of annual budget program; maintenance of 
        accounts; audit by General Accounting Office

    In the performance of, and with respect to, the functions, powers, 
and duties vested in him by this chapter, the Secretary, notwithstanding 
the provisions of any other law, shall--
        (1) prepare annually and submit a budget program as provided for 
    wholly owned Government corporations by chapter 91 of title 31; and
        (2) maintain an integral set of accounts which may be audited by 
    the General Accounting Office as provided by chapter 91 of title 31.

(b) Availability of receipts and assets

    All receipts and assets of the Secretary under this chapter shall be 
available for the purposes of this chapter until expended.

(c) Federal Reserve banks to act as depositories, custodians and fiscal 
        agents; reimbursement for services

    The Federal Reserve banks are authorized and directed to act as 
depositories, custodians, and fiscal agents for the Secretary in the 
general exercise of his powers under this chapter, and the Secretary may 
reimburse any such bank for its services in such manner as may be agreed 
upon.

(Sept. 1, 1937, ch. 896, title I, Sec. 10, as added Pub. L. 93-383, 
title II, Sec. 201(a), Aug. 22, 1974, 88 Stat. 666; amended Pub. L. 98-
479, title II, Sec. 203(b)(2), Oct. 17, 1984, 98 Stat. 2229; renumbered 
title I, Pub. L. 100-358, Sec. 5, June 29, 1988, 102 Stat. 681; Pub. L. 
104-316, title I, Sec. 122(k), Oct. 19, 1996, 110 Stat. 3837.)


                            Prior Provisions

    A prior section 10 of act Sept. 1, 1937, ch. 896, 50 Stat. 891, as 
amended, authorized annual contributions in assistance of low rentals 
for housing projects and was classified to section 1410 of this title, 
prior to the general revision of this chapter by Pub. L. 93-383. Similar 
provisions are contained in section 1437c of this title.


                               Amendments

    1996--Subsec. (a)(2). Pub. L. 104-316 substituted ``maintain an 
integral set of accounts which may be audited by the General Accounting 
Office as provided by chapter 91 of title 31.'' for ``maintain an 
integral set of accounts which shall be audited annually by the General 
Accounting Office in accordance with the principles and procedures 
applicable to commercial transactions as provided by chapter 91 of title 
31, and no other audit shall be required.''
    1984--Subsec. (a)(1), (2). Pub. L. 98-479 substituted ``chapter 91 
of title 31'' for ``the Government Corporations Control Act, as 
amended''.
