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12 U.S.C. § 4718 — Authorization of appropriations
Federal law — U.S. Code and appendices · legal_authorities
**(a) Fund authorization**
(1) **In general** — To carry out this subchapter, there are authorized to be appropriated to the Fund, to remain available until expended—
(A) $60,000,000 for fiscal year 1995;
(B) $104,000,000 for fiscal year 1996;
(C) $107,000,000 for fiscal year 1997; and
(D) $111,000,000 for fiscal year 1998;
or such greater sums as may be necessary to carry out this subchapter.
(2) **Administrative expenses**
(A) *In general* — Of amounts authorized to be appropriated to the Fund pursuant to this section, not more than $5,550,000 may be used by the Fund in each fiscal year to pay the administrative costs and expenses of the Fund. Costs associated with the training program established under [section 4708 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4708&num=0&edition=prelim) and the technical assistance program established under [section 4707 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4707&num=0&edition=prelim) shall not be considered to be administrative expenses for purposes of this paragraph.
(B) *Calculations* — The amounts referred to in paragraphs (3) and (4) shall be calculated after subtracting the amount referred to in subparagraph (A) of this paragraph from the total amount appropriated to the Fund in accordance with paragraph (1) in any fiscal year.
(3) **Capitalization assistance** — Not more than 5 percent of the amounts authorized to be appropriated under paragraph (1) may be used as provided in [section 4712 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4712&num=0&edition=prelim).
(4) **Availability for funding [section 4713 of this title](https://uscode.house.gov/view.xhtml?req=g
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Source file: Laws/federal/codes/united-states-code/title-12/section-4718-authorization-of-appropriations--0908ce0fc6.md
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Source location: Title 12, Chapter 47, § 4718; chapter-047-community-development-banking.md
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**(a) Fund authorization**
(1) **In general** — To carry out this subchapter, there are authorized to be appropriated to the Fund, to remain available until expended—
(A) $60,000,000 for fiscal year 1995;
(B) $104,000,000 for fiscal year 1996;
(C) $107,000,000 for fiscal year 1997; and
(D) $111,000,000 for fiscal year 1998;
or such greater sums as may be necessary to carry out this subchapter.
(2) **Administrative expenses**
(A) *In general* — Of amounts authorized to be appropriated to the Fund pursuant to this section, not more than $5,550,000 may be used by the Fund in each fiscal year to pay the administrative costs and expenses of the Fund. Costs associated with the training program established under [section 4708 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4708&num=0&edition=prelim) and the technical assistance program established under [section 4707 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4707&num=0&edition=prelim) shall not be considered to be administrative expenses for purposes of this paragraph.
(B) *Calculations* — The amounts referred to in paragraphs (3) and (4) shall be calculated after subtracting the amount referred to in subparagraph (A) of this paragraph from the total amount appropriated to the Fund in accordance with paragraph (1) in any fiscal year.
(3) **Capitalization assistance** — Not more than 5 percent of the amounts authorized to be appropriated under paragraph (1) may be used as provided in [section 4712 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4712&num=0&edition=prelim).
(4) **Availability for funding [section 4713 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4713&num=0&edition=prelim)** — 33⅓ percent of the amounts appropriated to the Fund for any fiscal year pursuant to the authorization in paragraph (1) shall be available for use in carrying out [section 4713 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4713&num=0&edition=prelim).
(5) **Support of community development financial institutions** — The Administrator shall allocate funds authorized under this section, to the maximum extent practicable, for the support of community development financial institutions.
**(b) Community Development Credit Union Revolving Loan Fund** There are authorized to be appropriated for the purposes of the Community Development Credit Union Revolving Loan Fund—
(1) $4,000,000 for fiscal year 1995;
(2) $2,000,000 for fiscal year 1996;
(3) $2,000,000 for fiscal year 1997; and
(4) $2,000,000 for fiscal year 1998.
**(c) Budgetary treatment** Amounts authorized to be appropriated under this section shall be subject to discretionary spending caps, as provided in section 665 11 See References in Text note below. of title 2, and therefore shall reduce by an equal amount funds made available for other discretionary spending programs.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Assistance**
(1) **In general** — The Fund may provide assistance for the purpose of providing capital to organizations to purchase loans or otherwise enhance the liquidity of community development financial institutions, if—
(A) the primary purpose of such organizations is to promote community development; and
(B) any assistance received is matched with funds—
(i) from sources other than the Federal Government;
(ii) on the basis of not less than one dollar for each dollar provided by the Fund; and
(iii) that are comparable in form and value to the assistance provided by the Fund.
(2) **Limitation on other assistance** — An organization that receives assistance under this section may not receive other financial or technical assistance under this subchapter.
(3) **Construction of Federal Government funds** — For purposes of this subsection, notwithstanding section 105(a)(9) of the Housing and Community Development Act of 1974 [[42 U.S.C. 5305(a)(9)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section5305/a/9&num=0&edition=prelim)], funds provided pursuant to such Act shall be considered to be Federal Government funds.
**(b) Selection** The selection of organizations to receive assistance under this section shall be at the discretion of the Fund and in accordance with criteria established by the Fund. In establishing such criteria, the Fund shall take into account the criteria contained in sections 4704(b) and 4706 of this title, as appropriate.
**(c) Amount of assistance** The Fund may provide a total of not more than $5,000,000 of assistance to an organization or its subsidiaries or affiliates under this section during any 3-year period. Assistance may be provided in a lump sum or over a period of time, as determi
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4712
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Function of Administrator**
(1) **In general** — Of any funds appropriated pursuant to the authorization in [section 4718(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4718/a&num=0&edition=prelim), the funds made available for use in carrying out this section in accordance with [section 4718(a)(4) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4718/a/4&num=0&edition=prelim) shall be administered by the Administrator of the Fund, in consultation with—
(A) the Federal banking agencies (as defined in section 3 of the Federal Deposit Insurance Act [[12 U.S.C. 1813](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813&num=0&edition=prelim)]) and the National Credit Union Administration;
(B) the individuals named pursuant to clauses (ii) and (iv) of [section 4703(d)(2)(G) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4703/d/2/G&num=0&edition=prelim); and
(C) any other representatives of insured depository institutions or other persons as the Administrator may determine to be appropriate.
(2) **Applicability of Bank Enterprise Act of 1991** — Subject to subsection (b) and the consultation requirement of paragraph (1)—
(A) section 233 of the Bank Enterprise Act of 1991 [[12 U.S.C. 1834a](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1834a&num=0&edition=prelim)] shall be applicable to the Administrator, for purposes of this section, in the same manner and to the same extent that such section is applicable to the Community Enterprise Assessment Credit Board;
(B) the Administrator shall, for purposes of carrying out this section and section 233 of the Bank Enterprise
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4713
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Forms of assistance**
(1) **In general** — The Fund may provide—
(A) financial assistance through equity investments, deposits, credit union shares, loans, and grants; and
(B) technical assistance—
(i) directly;
(ii) through grants; or
(iii) by contracting with organizations that possess expertise in community development finance, without regard to whether the organizations receive or are eligible to receive assistance under this subchapter.
(2) **Equity investments**
(A) *Limitation on equity investments* — The Fund shall not own more than 50 percent of the equity of a community development financial institution and may not control the operations of such institution. The Fund may hold only transferable, nonvoting equity investments in the institution. Such equity investments may provide for convertibility to voting stock upon transfer by the Fund.
(B) *Fund deemed not to control* — Notwithstanding any other provision of law, the Fund shall not be deemed to control a community development financial institution by reason of any assistance provided under this subchapter for the purpose of any other applicable law to the extent that the Fund complies with subparagraph (A). Nothing in this subparagraph shall affect the application of any Federal tax law.
(3) **Deposits** — Deposits made pursuant to this section in an insured community development financial institution shall not be subject to any requirement for collateral or security.
(4) **Limitations on obligations** — Direct loan obligations may be incurred by the Fund only to the extent that appropriations of budget authority to cover their cost, as defined in [section 661a(5) of title 2](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section661a/5&num=0&edition=
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4707
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Fund may operate a training program to increase the capacity and expertise of community development financial institutions and other members of the financial services industry to undertake community development finance activities.
**(b) Program activities** The training program shall provide educational programs to assist community development financial institutions and other members of the financial services industry in developing lending and investment products, underwriting and servicing loans, managing equity investments, and providing development services targeted to areas of economic distress, low-income persons, and persons who lack adequate access to loans and equity investments.
**(c) Participation** The training program shall be made available to community development financial institutions and other members of the financial services industry that serve or seek to serve areas of economic distress, low-income persons, and persons who lack adequate access to loans and equity investments.
**(d) Contracting** The Fund may offer the training program described in this section directly or through a contract with other organizations. The Fund may contract to provide the training program through organizations that possess special expertise in community development, without regard to whether the organizations receive or are eligible to receive assistance under this subchapter.
**(e) Coordination** The Fund shall coordinate with other appropriate Federal departments or agencies that operate similar training programs in order to prevent duplicative efforts.
**(f) Regulatory fee for providing training services**
(1) **General rule** — The Fund may, at the discretion of the Administrator and in accordance with this subsection, assess and collect
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4708
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Federal law — U.S. Code and appendices · legal_authorities
Page 1747
TITLE 12—BANKS AND BANKING
§ 4719
1 See References in Text note below.
§ 4717. Enforcement
(a) Regulations
(1) In general
Not later than 180 days after the appoint-
ment and qualification of the Administrator,
the Fund shall promulgate such regulations as
may be necessary to carry out this subchapter.
(2) Regulations required
The regulations promulgated under para-
graph (1) shall include regulations applicable
to community development financial institu-
tions that are not insured depository institu-
tions to—
(A) prevent conflicts of interest on the
part of directors, officers, and employees of
community development financial institu-
tions as the Fund determines to be appro-
priate; and
(B) establish such standards with respect
to loans by a community development finan-
cial institution to any director, officer, or
employee of such institution as the Fund de-
termines to be appropriate, including loan
amount limitations.
(b) Administrative enforcement
The provisions of this subchapter, and regula-
tions prescribed and agreements entered into
under this subchapter, shall be enforced under
section 8 of the Federal Deposit Insurance Act
[12 U.S.C. 1818] by the appropriate Federal bank-
ing agency, in the case of an insured community
development financial institution. A violation of
this subchapter, or any regulation prescribed
under or any agreement entered into under this
subchapter, shall be treated as a violation of the
Federal Deposit Insurance Act [12 U.S.C. 1811 et
seq.].
(Pub. L. 103–325, title I, § 119, Sept. 23, 1994, 108
Stat. 2188.)
Editorial Notes
REFERENCES IN TEXT
The Federal Deposit Insurance Act, referred to in
subsec. (b), is act Sept. 21, 1950, ch. 967, § 2, 64 Stat. 873,
which is classified generally to chapter
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 4718
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