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Title 45 → Subtitle B → Chapter XVI → Part 1631 → Subpart E → §1631.21 |
Title 45: Public Welfare
PART 1631—PURCHASING AND PROPERTY MANAGEMENT
Subpart E—Real Estate Management
§1631.21 Retaining income from sale of real estate purchased with LSC funds.
(a) During the term of an LSC grant or contract, a recipient may retain and use income from any sale of real estate purchased with LSC funds according to 45 CFR 1630.17 (Cost Standards and Procedures: Applicability to derivative income.) and 45 CFR 1628.3 (Recipient Fund Balances: Policy.).
(b) The recipient must account for income earned from the sale, rent, or lease of real or personal property purchased with LSC funds according to the requirements of 45 CFR 1630.17.