§ 8106. Reports and audits

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1978

   Housing and Community Development Amendments of 1978

   Pub. L. 95–557 title VI § 607 · 92 Stat. 2080

   Enacted · 42 U.S.C. § 8106

   Pub. L. 95–557, title VI, § 607, Oct. 31, 1978, 92 Stat. 2118

   Source evidence

   Code source credit
   Pub. L. 95–557, title VI, § 607, Oct. 31, 1978, 92 Stat. 2118

   Enacted provision · exact public law section
   Sec. 607. reports and audits (a) Transmittal to President and Congress. 42 USC 8106. The corporation shall publish an annual report which shall be transmitted by the corporation to the President and the Congress. (b) The accounts of the corporation shall be audited annually. Such audits shall be conducted in accordance with generally accepted auditing standards by independent certified public accountants who are certified by a regulatory authority of the jurisdiction in which the audit is undertaken. (c) In addition to the annual audit, the financial transactions of the corporation for any fiscal year during which Federal funds are available to finance any portion of its operations may be audited by the General Accounting Office in accordance with such rules and regulations as may be prescribed by the Comptroller General of the United States. The financial transactions of the corporation shall be audited by the General Accounting Office at least once during each three years. (d) For any fiscal year during which Federal funds are available to finance any portion of the corporation’s grants or contracts, the General Accounting Office, in accordance with such rules and regulations as may be prescribed by the Comptroller General of the United States, may audit the grantees or contractors of the corporation. (e) The corporation shall conduct or require each grantee or contractor to provide for an annual financial audit. The report of each such audit shall be maintained for a period of at least five years at the principal office of the corporation.

2. 1995

   Federal Reports Elimination and Sunset Act of 1995

   Pub. L. 104–66 title II § 2161 · 109 Stat. 707

   Struck · 42 U.S.C. § 8106(c)

   Pub. L. 104–66 struck out at end “The financial transactions of the corporation shall be audited by the General Accounting Office at least once during each three years.”

   Source evidence

   Code amendment note
   Subsec. (c). Pub. L. 104–66 struck out at end “The financial transactions of the corporation shall be audited by the General Accounting Office at least once during each three years.”

   Enacted provision · exact public law section
   SEC. 2161. REPORTS ELIMINATED. Section 607(c) of the Neighborhood Reinvestment Corporation Act (42 U.S.C. 8106(c)) is amended by striking the second sentence.

3. 2004

   GAO Human Capital Reform Act of 2004

   Pub. L. 108–271 § 8(b) · 118 Stat. 811

   Substituted · 42 U.S.C. § 8106(c); 42 U.S.C. § 8106(d)

   Pub. L. 108–271 substituted “Government Accountability Office” for “General Accounting Office”

   Source evidence

   Code amendment note
   Subsecs. (c), (d). Pub. L. 108–271 substituted “Government Accountability Office” for “General Accounting Office”.

   Enacted provision · exact public law section
   (b) References.— Any reference to the General Accounting Office in any law, rule, regulation, certificate, directive, instruction, or other official paper in force on the date of enactment of this Act shall be considered to refer and apply to the Government Accountability Office.

3 of 3 references resolved to an enrolled provision