42 U.S.C. § 1437h
Implementation of provisions by Secretary (THE PUBLIC HEALTH AND WELFARE (42 U.S.C.))
Operative Text
In the performance of, and with respect to, the functions, powers, and duties vested in him by this chapter, the Secretary, notwithstanding the provisions of any other law, shall— prepare annually and submit a budget program as provided for wholly owned Government corporations by chapter 91 of title 31; and maintain an integral set of accounts which may be audited by the Government Accountability Office as provided by chapter 91 of title 31. All receipts and assets of the Secretary under this chapter shall be available for the purposes of this chapter until expended. The Federal Reserve banks are authorized and directed to act as depositories, custodians, and fiscal agents for the Secretary in the general exercise of his powers under this chapter, and the Secretary may reimburse any such bank for its services in such manner as may be agreed upon.
Under 42 U.S.C. § 1437h, the Secretary of Housing and Urban Development is required to prepare and submit an annual budget program and maintain a unified set of accounts subject to audit by the Government Accountability Office, following the same standards that apply to wholly owned government corporations. All funds and assets received by the Secretary under the public housing statute remain available for program purposes until they are spent. Federal Reserve banks are authorized to serve as depositories, custodians, and fiscal agents for the Secretary, and may be reimbursed for those services.
Plain English — not legal advice.
42 U.S.C. § 1437h establishes the financial and administrative framework under which the federal public housing program operates at the secretarial level. Operators and housing authorities that receive federal assistance under this chapter function within a system where program funds are subject to federal budgeting requirements and GAO audit oversight. Compliant operators generally maintain records and financial practices consistent with the accountability standards that flow from this federal oversight structure.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
42 U.S.C. § 1437h sets up the federal accountability mechanisms — including annual budgeting and GAO auditing — that govern how public housing funds are managed at the federal level. Tenants in federally assisted housing benefit indirectly from these oversight requirements, as they help ensure program funds are used for their intended purposes. Tenants who believe program funds or resources are being misused may explore options such as contacting a local tenant-rights organization, reaching out to a HUD field office, or consulting with a housing advocate familiar with federal public housing requirements.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated September 3, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
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