31 CFR § 51.2 Definitions. As used in this part (except where the context clearly indicates otherwise, or where the term is otherwise defined elsewhere in this part) the following definitions shall apply: (a) Act means the Revenue Sharing Act (31 U.S.C. 6701-6724) as amended by the Local Government Fiscal Assistance Amendments of 1983 (Pub. L. 98-185 enacted November 30, 1983). (b) Allocation means the amount determined by formula to be a State area or recipient government's portion of the Revenue Sharing appropriation for an entitlement period. (c) Department means the Department of the Treasury. (d) Director means the Director of the Office of Revenue Sharing. (e) Entitlement means the amount a recipient government is scheduled to receive during the entitlement period, determined from adjustments made to the allocation for under or overpayments in prior periods. (f) Entitlement funds means the amount of Revenue Sharing payments to which a unit of local government is entitled as determined by the Director pursuant to the allocation formula contained in the Act and as established by regulations under this part, including the interest earned on entitlement funds deposited in financial institutions prior to their use, obligation or appropriation. http://www.supremelaw.org/rsrc/31cfr512.htm #RevenueSharingAct #Treasury @Entitlement

Posted by MalikaDulce at 2020-10-15 05:57:00 UTC