2019 US Code
Title 12 - Banks and Banking
Chapter 42 - Low-Income Housing Preservation and Resident Homeownership
Subchapter II - Technical Assistance and Capacity Building
Sec. 4146 - Definitions
| 12 U.S.C. § 4146 (2019) |
| §4146. Definitions |
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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. |
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(Pub. L. 100–242, title II, §256, as added Pub. L. 102–550, title III, §312, Oct. 28, 1992, 106 Stat. 3769.) |
| United States Code, 2018 Edition, Supplement 1, Title 12 - BANKS AND BANKING |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 12 - BANKS AND BANKING CHAPTER 42 - LOW-INCOME HOUSING PRESERVATION AND RESIDENT HOMEOWNERSHIP SUBCHAPTER II - TECHNICAL ASSISTANCE AND CAPACITY BUILDING Sec. 4146 - Definitions |
| section 4146 |
| 2019 |
| January 24, 2020 |
| No |
| standard |
| 106 Stat. 3769 |
| Public Law 100-242, Public Law 102-550 |
