§661.45. What happens when TTFBP funds cannot be obligated by the end of the fiscal year?
23 C.F.R. § 661.45
The TTFBP funds from the Highway Trust Fund (HTF) provided to a project that cannot be obligated by the end of the fiscal year are to be returned to FHWA during August redistribution. The returned funds will be re-allocated to the BIA the following fiscal year after FHWA receives and accepts a formal request for the funds from BIA, which includes a justification for the amounts requested and the reason for the failure of the prior year obligation.
Notes, amendments, and revision history
Authority
Authority: 23 U.S.C. 120(j) and (k), 202, and 315; 49 CFR 1.81, 1.84, 1.85; 23 CFR part 490, subpart D.
Source
Source: 89 FR 57082, July 12, 2024, unless otherwise noted.