2015 US Code
Title 12 - Banks and Banking (Sections 1 - 5710)
Chapter 42 - Low-Income Housing Preservation and Resident Homeownership (Sections 4101 - 4147)
Subchapter II - Technical Assistance and Capacity Building (Sections 4141 - 4147)
Sec. 4146 - Definitions
Publication Title | United States Code, 2012 Edition, Supplement 3, Title 12 - BANKS AND BANKING |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 12 - BANKS AND BANKING CHAPTER 42 - LOW-INCOME HOUSING PRESERVATION AND RESIDENT HOMEOWNERSHIP SUBCHAPTER II - TECHNICAL ASSISTANCE AND CAPACITY BUILDING Sec. 4146 - Definitions |
Contains | section 4146 |
Date | 2015 |
Laws In Effect As Of Date | January 3, 2016 |
Positive Law | No |
Disposition | standard |
Source Credit | Pub. L. 100-242, title II, §256, as added Pub. L. 102-550, title III, §312, Oct. 28, 1992, 106 Stat. 3769. |
Statutes at Large Reference | 106 Stat. 3769 |
Public and Private Law | Public Law 100-242, Public Law 102-550 |
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For purposes of this subchapter—
(1) the term "community-based nonprofit housing developer" means a nonprofit community development corporation that—
(A) has been classified by the Internal Revenue Service as an exempt organization under section 501(c)(3) of title 26;
(B) has been in existence for at least 2 years prior to the date of the grant application;
(C) has a record of service to low- and moderate-income people in the community in which the project is located;
(D) is organized at the neighborhood, city, county or multi-county level; and
(E) in the case of a corporation acquiring eligible housing under subchapter I of this chapter, agrees to form a purchaser entity that conforms to the definition of a community-based nonprofit organization under such subchapter and agrees to use its best efforts to secure majority tenant consent to the acquisition of the project for which grant assistance is requested; and
(2) the terms "eligible low-income housing", "nonprofit organization", "owner", and "resident council" have the meanings given such terms in section 4119 of this title.
(Pub. L. 100–242, title II, §256, as added Pub. L. 102–550, title III, §312, Oct. 28, 1992, 106 Stat. 3769.)
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