24 CFR § 883.702 - Replacement reserve.

---
identifier: "/us/cfr/t24/s883.702"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "24 CFR § 883.702 - Replacement reserve."
title_number: 24
title_name: "Housing and Urban Development"
section_number: "883.702"
section_name: "Replacement reserve."
chapter_name: "OFFICE OF THE ASSISTANT SECRETARY FOR HOUSING-FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (SECTION 8 HOUSING ASSISTANCE PROGRAMS, SECTION 202 DIRECT LOAN PROGRAM, SECTION 202 SUPPORTIVE HOUSING FOR THE ELDERLY PROGRAM AND SECTION 811 SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES PROGRAM)"
part_number: "883"
part_name: "SECTION 8 HOUSING ASSISTANCE PAYMENTS PROGRAM—STATE HOUSING AGENCIES"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "42 U.S.C. 1437a, 1437c, 1437f, 3535(d), and 13611-13619."
regulatory_source: "45 FR 6889, Jan. 30, 1980, unless otherwise noted."
cfr_part: "883"
---


# 883.702 Replacement reserve.

For projects that are required to maintain a replacement reserve account to fund capital repairs and building system replacements, while the Annual Contributions Contract (ACC) between the State Agency and HUD is in effect, funds in that replacement reserve account may be drawn and used only in accordance with State Agency guidelines and with the approval of, or as directed by, the State Agency. Upon termination of the ACC, the Owner must request withdrawal of any funds in the replacement reserve account and immediately deposit such funds into an interest-bearing replacement reserve account that complies with the requirements of 24 CFR 880.602(a)(1)(iv).

[89 FR 96098, Dec. 4, 2024]