operating cost
Defined in 1 place of the United States Code.
The term “operating cost” means expenses incurred in operating a project, including expenses for—
(I) administration, maintenance, repair, and security of the project;
(II) utilities, fuel, furnishings, and equipment for the project; and
(III) maintaining adequate reserve funds for the project.
Source
- 2013–202242 U.S.C. § 1490AThe Public Health and Welfare · Loans to provide occupant owned, rental, and cooperative housing for low and moderate income, elderly or handicapped persons or families · under this section
The term "operating cost" means expenses incurred in operating a project, including expenses for—
(I) administration, maintenance, repair, and security of the project;
(II) utilities, fuel, furnishings, and equipment for the project; and
(III) maintaining adequate reserve funds for the project.
Housing and related facilities provided with loans described in subsection (a) of this section shall be located in rural areas; and applicants eligible for such loans under section 1472, 1487(a)(1),2 or 1490f(a) of this title, or for occupancy of housing provided with such loans under section 1485 or 1490f(c) of this title, shall include otherwise qualified nonrural residents who will become rural residents.
There shall be reimbursed to the Rural Housing Insurance Fund by annual appropriations (1) the amounts by which nonprincipal payments made from the fund during each fiscal year to the holders of insured loans described in subsection (a)(1) of this section exceed interest due from the borrowers during each year, and (2) the amount of assistance payments described in subsections (a)(2) and (a)(5) of this section. There are authorized to be appropriated to the Rural Housing Insurance Fund such sums as may be necessary to reimburse such fund for the amount of assistance payments described in subsection (a)(1)(C) of this section. The Secretary may from time to time issue notes to the Secretary of the Treasury under section 1487(h) and of this title and section 1490f of this title to obtain amounts equal to such unreimbursed payments, pending the annual reimbursement by appropriation.
Source
- 1998–201442 U.S.C. § 1490AThe Public Health and Welfare · Loans to provide occupant owned, rental, and cooperative housing for low and moderate income, elderly or handicapped persons or families · under this section
The term "operating cost" means expenses incurred in operating a project, including expenses for—
(I) administration, maintenance, repair, and security of the project;
(II) utilities, fuel, furnishings, and equipment for the project; and
(III) maintaining adequate reserve funds for the project.
Housing and related facilities provided with loans described in subsection (a) shall be located in rural areas; and applicants eligible for such loans under section 1472, 1487(a)(1),1 or 1490f(a) of this title, or for occupancy of housing provided with such loans under section 1485 or 1490f(c) of this title, shall include otherwise qualified nonrural residents who will become rural residents.
There shall be reimbursed to the Rural Housing Insurance Fund by annual appropriations (1) the amounts by which nonprincipal payments made from the fund during each fiscal year to the holders of insured loans described in subsection (a)(1) exceed interest due from the borrowers during each year, and (2) the amount of assistance payments described in subsections (a)(2) and (a)(5). There are authorized to be appropriated to the Rural Housing Insurance Fund such sums as may be necessary to reimburse such fund for the amount of assistance payments described in subsection (a)(1)(C). The Secretary may from time to time issue notes to the Secretary of the Treasury under section 1487(h) and of this title and section 1490f of this title to obtain amounts equal to such unreimbursed payments, pending the annual reimbursement by appropriation.
Source
- 2022–present42 U.S.C. § 1490AThe Public Health and Welfare · Loans to provide occupant owned, rental, and cooperative housing for low and moderate income, elderly or handicapped persons or families · under this section
The term "operating cost" means expenses incurred in operating a project, including expenses for—
(I) administration, maintenance, repair, and security of the project;
(II) utilities, fuel, furnishings, and equipment for the project; and
(III) maintaining adequate reserve funds for the project.
Housing and related facilities provided with loans described in subsection (a) shall be located in rural areas; and applicants eligible for such loans under section 1472, 1487(a)(1),2 or 1490f(a) of this title, or for occupancy of housing provided with such loans under section 1485 or 1490f(c) of this title, shall include otherwise qualified nonrural residents who will become rural residents.
There shall be reimbursed to the Rural Housing Insurance Fund by annual appropriations (1) the amounts by which nonprincipal payments made from the fund during each fiscal year to the holders of insured loans described in subsection (a)(1) exceed interest due from the borrowers during each year, and (2) the amount of assistance payments described in subsections (a)(2) and (a)(5). There are authorized to be appropriated to the Rural Housing Insurance Fund such sums as may be necessary to reimburse such fund for the amount of assistance payments described in subsection (a)(1)(C). The Secretary may from time to time issue notes to the Secretary of the Treasury under section 1487(h) and of this title and section 1490f of this title to obtain amounts equal to such unreimbursed payments, pending the annual reimbursement by appropriation.
Source
- 2016–201742 U.S.C. § 1490AThe Public Health and Welfare · Loans to provide occupant owned, rental, and cooperative housing for low and moderate income, elderly or handicapped persons or families · under this section