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12 U.S.C. § 5707

Remedies for State program termination or failures

United States · Title 12 — BANKS AND BANKING · Status: effective

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12 U.S.C. § 5707, Remedies for State program termination or failures, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/439131
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Full text

If any of the events listed in paragraph (2) occur, the Secretary, in the Secretary’s discretion, may— The events referred to in paragraph (1) are— If, after 13 months, any portion of the amount of Federal funds allocated to a participating State is deemed by the Secretary to be no longer allocated to the State after actions taken by the Secretary under subsection (a)(1), the Secretary shall reallocate that portion among the participating States, excluding the State whose allocated funds were deemed to be no longer allocated, as provided in section 5702(b) of this title.

Legislative history

The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.