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Electronic Code of Federal Regulations

e-CFR data is current as of February 26, 2020

Title 7Subtitle BChapter XVIIISubchapter HPart 1980Subpart K → §1980.1004

Title 7: Agriculture
Subpart K—Strategic Economic and Community Development

§1980.1004   Funding.

Unless the Agency publishes a notice that indicates otherwise, the Agency will reserve funds according to the procedures specified in paragraphs (a) through (c) of this section for each of the programs identified in §1980.1002 each fiscal year.

(a) Individual program basis. The Agency will reserve funds on an individual program basis.

(b) Percentage of funds. The Agency will reserve 10 percent of the funds made available in a fiscal year to each program identified in §1980.1002 unless the Agency specifies a different percentage. If the Agency specifies a different percentage, the Agency will publish a notice indicating the percentage. The Agency may reserve the same or different percentages for each program in a single fiscal year.

(c) Unobligated funds. If a program's funds reserved under this subpart remain unobligated as of June 30 of the fiscal year in which the funds are reserved, the Agency will return such remaining funds to that program's regular funding account for obligation for all eligible Projects in that program.

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