Federal · Title 7 — Agriculture
7 U.S.C. § 950bb: Default and deobligation; deferral
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recover funds from loan and grant defaults; deobligate any awards, less allowable costs that demonstrate an insufficient level of performance (including metrics determined by the Secretary) or fraudulent spending, to the extent funds with respect to the award are available in the account relating to the program established by this subchapter; award those funds, on a competitive basis, to new or existing applicants consistent with this subchapter; and minimize overlap among the programs. In determining the terms and conditions of assistance provided under this subchapter, the Secretary may establish a deferral period of not shorter than the buildout period established for the project involved in order to support the financial feasibility and long-term sustainability of the project.
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