§205.16. What special rules apply to Federal assistance programs and projects funded by the Federal Highway Trust Fund?
31 C.F.R. § 205.16
The following applies to Federal assistance programs and projects funded out of the Federal Highway Trust Fund, notwithstanding any other provision of this part:
A State must request funds at least weekly for current project costs, or Federal interest liability will not accrue prior to the day a State submits a request for funds.
If a State pays out its own funds in the absence of a project agreement or in excess of the Federal obligation in a project agreement, the Federal Program Agency will not incur an interest liability.
Notes, amendments, and revision history
Authority
Authority: 5 U.S.C. 301; 31 U.S.C. 321, 3332, 3335, 6501, 6503.
Source
Source: 67 FR 31885, May 10, 2002, unless otherwise noted.