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Code of Federal Regulations Title 34. Education § 34.76.709 Funds may be obligated during a “carryover period.”

Current as of January 02, 2025 | Updated by Findlaw Staff

(a) If a State or a subgrantee does not obligate all of its grant or subgrant funds by the end of the fiscal year for which Congress appropriated the funds, it may obligate the remaining funds during a carryover period of one additional fiscal year.

(b) The State shall return to the Federal Government any carryover funds not obligated by the end of the carryover period by the State and its subgrantees.

Note:  This section is based on a provision in the General Education Provisions Act (GEPA). Section 427 of the Department of Education Organization Act (DEOA), 20 U.S.C. 3487, provides that except to the extent inconsistent with the DEOA, the GEPA “shall apply to functions transferred by this Act to the extent applicable on the day preceding the effective date of this Act.” Although standardized nomenclature is used in this section to reflect the creation of the Department of Education, there is no intent to extend the coverage of the GEPA beyond that authorized under section 427 or other applicable law.

(Authority:  U.S.C. 1221e–3, 1225(b), and 3474)

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Cite this article: FindLaw.com - Code of Federal Regulations Title 34. Education § 34.76.709 Funds may be obligated during a “carryover period.” - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-34-education/cfr-sect-34-76-709/

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