7 CFR 550.117

§ 550.117 Program income.

United States · 7 CFR — Agriculture · Status: effective

Cite this

Citation: 7 CFR 550.117, § 550.117 Program income, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/18947
Permanent ID: ys:prov:18947@1
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Full text

(a) Use of program income. (1) Program income earned must be added to the non-assistance cooperative agreement, unless otherwise specified in the award. (2) When specified in the award, program income can be used towards fulfilling the cooperator's resource contributions for the same award. (b) Disclosing program income. The Cooperator must disclose program income in financial reports. Refer to § 550.123 of this part. (c) Program income closeout. The REE Agency and the Cooperator will negotiate appropriate uses of income earned balances, after the period of performance, as part of the agreement closeout process.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.