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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 7 - Agriculture |
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Subtitle B - Regulations of the Department of Agriculture |
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Chapter XIV - Commodity Credit Corporation, Department of Agriculture |
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SubChapter C - Export Programs |
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Part 1485 - Grant Agreements for the Development of Foreign Markets for U.S. Agricultural Commodities |
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Subpart B - Market Access Program |
§ 1485.32 - Program income.
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§ 1485.32 Program income.
Any revenue or refunds Program income is gross income earned by the non-Federal entity that is directly generated by a supported activity or earned as a result of the Federal award during the period of performance. Any income generated from an activity, e.g., participation fees, proceeds of sales, refunds of value added taxes (VAT), the expenditures for which have been wholly or partially reimbursed with MAP funds, shall be used by the MAP Participant in furtherance of its approved MAP activities in the program period year during which the MAP funds are available for obligation by the MAP Participant, or must be returned to CCC. The use of such revenue or refunds income shall be governed by 7 CFR Part 1485this subpart. Interest earned on funds advanced by CCC is not program income. Reasonable activity fees or registration fees, if identified as such in a project budget, may be charged for approved activities. The intent to charge a fee must be part of the original proposal, along with an explanation of how such fees are to be used. Any activity fees charged must be used to offset activity expenses or returned to FAS. Such fees may not be used as profit or counted as contribution or cost share.