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Title 45 Part 1631 → Subpart C → §1631.13

Title 45 → Subtitle B → Chapter XVI → Part 1631 → Subpart C → §1631.13

Electronic Code of Federal Regulations e-CFR

Title 45 Part 1631 → Subpart C → §1631.13

e-CFR data is current as of August 19, 2019

Title 45Subtitle BChapter XVIPart 1631Subpart C → §1631.13


Title 45: Public Welfare
PART 1631—PURCHASING AND PROPERTY MANAGEMENT
Subpart C—Personal Property Management


§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.