1. U.S. Code
  2. title 40
  3. subtitle II
  4. part A
  5. chapter 35
  6. § 3505

Collapse to view only § 3505. Forgiveness of outstanding advances

§ 3501. Definitions
In this chapter, the following definitions apply:
(1)Public agency.—The term “public agency” means a State or a public agency or political subdivision of a State.
(2)Public works.—The term “public works” includes any public works other than housing.
(3)State.—The term “State” means a State of the United States, the District of Columbia, Puerto Rico, Guam, the Virgin Islands, the Northern Mariana Islands, the Federated States of Micronesia, the Marshall Islands, Palau, and any territory or possession of the United States.
(Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1167.)

CITE AS: 40 USC 3501

§ 3502. Planned public works
(a)Advances To Ensure Planning.—Notwithstanding section 3324(a) and (b) of title 31, the Secretary of Housing and Urban Development may make advances to public agencies and Indian tribes—
(1) to encourage public agencies and Indian tribes to maintain at all times a current and adequate reserve of planned public works the construction of which can rapidly be commenced, particularly when the national or local economic situation makes that action desirable; and
(2) to help attain maximum economy and efficiency in the planning and construction of public works.
(b)Uses of Advances.—A public agency or Indian tribe shall use an advance under subsection (a) to aid in financing the cost of feasibility studies, engineering and architectural surveys, designs, plans, working drawings, specifications, or other action preliminary to and in preparation for the construction of public works, and for construction in connection with the development of a medical center, a general plan for the development of the center.
(c)No Future Commitment.—An advance under subsection (a) does not commit the Congress to appropriate amounts to assist in financing the construction of any public works planned with the aid of that advance. Outstanding advances to public agencies and Indian tribes in a State shall not exceed 12.5 percent of the aggregate then authorized to be appropriated to the revolving fund established under section 3503 of this title.
(d)Requirements for Advances.—An advance shall not be made under subsection (a) for an individual project (including a regional, metropolitan, or other areawide project) unless—
(1) the project is planned to be constructed within or over a reasonable period of time considering the nature of the project;
(2) the project conforms to an overall state, local, or regional plan approved by a competent state, local, or regional authority; and
(3) the public agency or Indian tribe formally contracts with the Federal Government to complete the plan preparation promptly and to repay part or all of the advance when due.
(e)Regulations.—The Secretary may prescribe regulations to carry out this chapter.
(Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1167.)

CITE AS: 40 USC 3502

§ 3503. Revolving fund
(a)Establishment.—There is a revolving fund established by the Secretary of Housing and Urban Development to provide amounts for advances under this chapter. The fund comprises amounts appropriated under this chapter and all repayments and other receipts received in connection with advances made under this chapter.
(b)Authorizations.—Not more than $70,000,000 may be appropriated to the revolving fund as necessary to carry out the purposes of this chapter.
(Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1168.)

CITE AS: 40 USC 3503

§ 3504. Surveys of public works planning

The Secretary of Housing and Urban Development may use during a fiscal year not more than $100,000 of the amount in the revolving fund established under section 3503 of this title to conduct surveys of the status and current volume of state and local public works planning and surveys of estimated requirements for state and local public works. In conducting a survey, the Secretary, may use or act through any department or agency of the Federal Government, with the consent of the department or agency.

(Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1168.)

CITE AS: 40 USC 3504

§ 3505. Forgiveness of outstanding advances

In accordance with accounting and other procedures the Secretary of Housing and Urban Development prescribes, each advance made by the Secretary under this chapter that had any principal amount outstanding on February 5, 1988, was forgiven. The terms and conditions of any contract, or any amendment to a contract, for that advance with respect to any promise to repay the advance were canceled.

(Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1168.)

CITE AS: 40 USC 3505