§ 982.154. ACC reserve account.
85 words·~1 min read·
/us/cfr/t24/s§ 982.154·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)HUD may establish and maintain an unfunded reserve account for the PHA program from available budget authority under the consolidated ACC. This reserve is called the "ACC reserve account" (formerly "project reserve"). There is a single ACC reserve account for the PHA program.
(b)The amount in the ACC reserve account is determined by HUD. HUD may approve payments for the PHA program, in accordance with the PHA's HUD-approved budget, from available amounts in the ACC reserve account. \[64 FR 26642, May 14, 1999\]