40 USC § 3503 - Revolving fund

---
identifier: "/us/usc/t40/s3503"
source: "usc"
legal_status: "official_legal_evidence"
title: "40 USC § 3503 - Revolving fund"
title_number: 40
title_name: "PUBLIC BUILDINGS, PROPERTY, AND WORKS"
section_number: "3503"
section_name: "Revolving fund"
chapter_number: 35
chapter_name: "NON-FEDERAL PUBLIC WORKS"
part_number: "A"
part_name: "GENERAL"
positive_law: true
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1168.)"
---


# § 3503. Revolving fund

**(a)** **Establishment.—** There is a revolving fund established by the Secretary of Housing and Urban Development to provide amounts for advances under this chapter. The fund comprises amounts appropriated under this chapter and all repayments and other receipts received in connection with advances made under this chapter.

**(b)** **Authorizations.—** Not more than $70,000,000 may be appropriated to the revolving fund as necessary to carry out the purposes of this chapter.

---

**Source Credit**: (Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1168.)

| RevisedSection | Source (U.S. Code) | Source (Statutes at Large) |
| --- | --- | --- |
| 3503 | 40:462(e). | Aug. 2, 1954, ch. 649, title VII, § 702(e), 68 Stat. 641; Aug. 11, 1955, ch. 783, title I, § 112, 69 Stat. 641; Pub. L. 87–70, title V, § 502(3), (4), June 30, 1961, 75 Stat. 175; Pub. L. 88–560, title VI, § 602(a), Sept. 2, 1964, 78 Stat. 799; Pub. L. 89–117, title XI, § 1104, Aug. 10, 1965, 79 Stat. 503; Pub. L. 90–19, § 10(a) (related to 40:462), May 25, 1967, 81 Stat. 22. |

In subsection (a), the words “heretofore or hereafter” are omitted as unnecessary. The text of 40:462(e)(2) is omitted as obsolete. Title V of the War Mobilization and Reconversion Act of 1944 (50 App.:1671) terminated on . The Act of  (40:451 et seq.) authorized the Housing and Home Finance Administrator to make certain loans and advances for the 2-year period immediately following .

In subsection (b), the words “in addition to amounts authorized to be appropriated for the purposes of this section before ” are omitted as executed.