24 C.F.R. § 1000.62

What is considered program income?

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(a) Program income is defined as any income that is realized from the disbursement of grant amounts. Program income does not include any amounts generated from the operation of 1937 Act units unless the units are assisted with grant amounts and the income is attributable to such assistance. Program income includes income from fees for services performed from the use of real or rental of real or personal property acquired with grant funds, from the sale of commodities or items developed, acquired, etc. with grant funds, and from payments of principal and interest earned on grant funds prior to disbursement.

(b) If the amount of income received in a single year by a recipient and all its subrecipients, which would otherwise be considered program income, does not exceed $25,000, such funds may be retained but will not be considered to be or treated as program income.

(c) If program income is realized from an eligible activity funded with both grant funds as well as other funds (i.e., funds that are not grant funds), then the amount of program income realized will be based on a percentage calculation that represents the proportional share of funds provided for the activity generating the program income.

(d) Costs incident to the generation of program income shall be deducted from gross income to determine program income.

[63 FR 12349, Mar. 12, 1998, as amended at 77 FR 71524, Dec. 3, 2012]

Notes of Decisions

Cited in 3 cases, 2011–2012 · leading case: Muscogee (Creek) Nation Div. of Hous. v. United States Dep't of Hous. & Urban Dev., 698 F.3d 1276 (10th Cir. 2012).

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Muscogee (Creek) Nation Div. of Hous. v. United States Dep't of Hous. & Urban Dev., 698 F.3d 1276 (10th Cir. 2012). · cites it 2× “The Nation notes that “program income” is defined by regulation to include “payments of principal and interest earned on grant funds prior to disbursement,” 24 C.F.R. § 1000.62 (a), and the Nation therefore argues that HUD may not demand remittance of interest earned on grant…”

Muscogee (Creek) Nation Div. of Hous. v. United States Dep't of Hous. & Urban Dev., 819 F. Supp. 2d 1225 (E.D. Okla. 2011). · cites it 3× “§ 4114 (a)); and (3) a statement by the negotiated rule making committee in the initial agency review of 24 C.F.R. § 1000.62 , which “agreed with ‘the right of the [block grant] recipients to keep all interest earned on grant amounts.”

Petrella ex rel. N.P. v. United States Dep't of Hous. & Urban Dev., 697 F.3d 1285 (10th Cir. 2012). · cites it 2× “The Nation notes that “program income” is defined by regulation to include “payments of principal and interest earned on grant funds prior to disbursement,” 24 C.F.R. § 1000.62 (a), and the Nation therefore argues that HUD may not demand remittance of interest earned on grant…”

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