United States Code
USC most recently checked for updates: Nov 29, 2023
Nursing home revolving fund
Amounts realized from a transfer pursuant to section 8122(a)(2)(C) 1
of this title shall be administered as a revolving fund and shall be available without fiscal year limitation.
1See References in Text note below.
The revolving fund shall be deposited in a checking account with the Treasurer of the United States.
The expenditure of funds from the revolving fund may be made only for the construction, alteration, and acquisition (including site acquisition) of nursing home facilities and may be made only as provided for in appropriation Acts.
For the purpose of section 8104(a)(2) of this title, a bill, resolution, or amendment which provides that funds in the revolving fund may be expended for a project involving a total expenditure of more than $2,000,000 for the construction, alteration, or acquisition (including site acquisition) of a nursing home facility shall be considered to be a bill, resolution, or amendment making an appropriation which may be expended for a major medical facility project.
cite as: 38 USC 8116