US Laws, Codes, Statutes & Cases

From the U.S. Code Online via GPO Access
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[Laws in effect as of January 7, 2003]
[Document not affected by Public Laws enacted between
  January 7, 2003 and December 19, 2003]
[CITE: 42USC9815]

 
                 TITLE 42--THE PUBLIC HEALTH AND WELFARE
 
                CHAPTER 105--COMMUNITY SERVICES PROGRAMS
 
              SUBCHAPTER I--COMMUNITY ECONOMIC DEVELOPMENT
 
               Part D--Supportive Programs and Activities
 
Sec. 9815. Small Business Administration and Department of 
        Commerce economic development programs; regulations
        
    (a)(1) Funds granted under this subchapter which are invested 
directly or indirectly, in a small investment company, local development 
company, limited small business investment company, or small business 
investment company licensee under section 681(d) \1\ of title 15 shall 
be included as ``private paid-in capital and paid-in surplus'', 
``combined paid-in capital and paid-in surplus'', and ``paid-in 
capital'' for purposes of sections 682, 683, and 696, respectively, of 
title 15.
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    \1\ See References in Text note below.
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    (2) Not later than 90 days after August 13, 1981, the Administrator 
of the Small Business Administration, after consultation with the 
Secretary, shall promulgate regulations to ensure the availability to 
community development corporations of such programs as shall further the 
purposes of this subchapter, including programs under section 637(a) of 
title 15.
    (b)(1) Areas selected for assistance under this subchapter shall be 
deemed ``redevelopment areas'' within the meaning of section 401 of the 
Publc \2\ Works and Economic Development Act of 1965,\1\ shall qualify 
for assistance under the provisions of title I and title II of such Act, 
and shall be deemed to have met the overall economic development program 
requirements of section 202(b)(10) of such Act.
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    \2\ So in original. Probably should be ``Public''.
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    (2) Not later than 90 days after August 13, 1981, the Secretary of 
Commerce shall prescribe regulations which will ensure that community 
development corporations and cooperatives shall qualify for assistance 
and shall be eligible to receive such assistance under all such programs 
of the Economic Development Administration as shall further the purposes 
of this subchapter.

(Pub. L. 97-35, title VI, Sec. 626, Aug. 13, 1981, 95 Stat. 496.)

                       References in Text

    Section 681(d) of title 15, referred to in subsec. (a)(1), was 
repealed by Pub. L. 104-208, div. D, title II, Sec. 208(b)(3)(A), Sept. 
30, 1996, 110 Stat. 3009-742.
    The Public Works and Economic Development Act of 1965, referred to 
in subsec. (b)(1), is Pub. L. 89-136, Aug. 26, 1965, 79 Stat. 552, as 
amended. Titles I to VI of the Act of 1965 were repealed and new titles 
I to VI were enacted by Pub. L. 105-393, title I, Sec. 102(a), Nov. 13, 
1998, 112 Stat. 3597. As so enacted, section 401 of the Act no longer 
defines ``redevelopment areas'' and section 202 of the Act no longer 
contains a subsec. (b). For complete classification of this Act to the 
Code, see Short Title note set out under section 3121 of this title and 
Tables.