1. Regulations
  2. title 45
  3. chapter XVI
  4. part 1631
  5. subpart C
  6. § 1631.13

View all text of Subpart C [§ 1631.10 - § 1631.13]

§ 1631.13 - Use of derivative income from sale of personal property 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 personal property 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 personal property purchased with LSC funds according to the requirements of 45 CFR 1630.17.

AUTHORITY: 42 U.S.C. 2996g(e).

SOURCE: 82 FR 37341, Aug. 10, 2017, unless otherwise noted.

CITE AS: 45 CFR 1631.13