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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 40 U.S.C. § 3505 Forgiveness of outstanding advances us united_states_code code_section 40 PUBLIC BUILDINGS, PROPERTY, AND WORKS 35 NON-FEDERAL PUBLIC WORKS 3505 40 U.S.C. § 3505 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc40@119-100.zip /us/usc/t40/s3505 data/legal/raw/us/code/title-40/usc40.xml 577a47b05ea0d68f2b1e3739692ceced03ec1df3de32c9159a3ee26a0e834fc5 9e671d5f37f9148634c9ba568a4c16d4864b567130b66bcf607f680414560a29 08e382f15499bfb2b7452b8fcefa4d429baa272a41cbf6afb5b47f9458b39b6b 2026-07-04 official
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40 U.S.C. § 3505 - Forgiveness of outstanding advances

Text

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. 107217, Aug. 21, 2002, 116 Stat. 1168.)

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 350540:462(g).Aug. 2, 1954, ch. 649, title VII, § 702(g), as added Pub. L. 87658, § 6, Sept. 14, 1962, 76 Stat. 544; Pub. L. 100242, title V, § 524(2), Feb. 5, 1988, 101 Stat. 1939.