Rescission of amounts from HUD management and administration account

(a) In general In each fiscal year, on October 15 or the date specified in subsection (b), whichever occurs later, there is rescinded, from amounts made available for such fiscal year for the Management and Administration account of the Department of Housing and Urban Development, an amount equal to the amount published pursuant to section 2(b) for the preceding fiscal year. (b) Late appropriations In the case of any fiscal year for which a general appropriation Act for the Department of Housing and Urban Development that provides funds for the Management and Administration account of such Department has not been enacted before October 15, the date specified in this subsection shall be the date of the enactment of such a general appropriation Act.