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42 U.S.C. § 8101 — Congressional findings and declaration of purpose
Federal law — U.S. Code and appendices · legal_authorities
**(a)** The Congress finds that—
(1) the neighborhood housing services demonstration of the Urban Reinvestment Task Force has proven its worth as a successful program to revitalize older urban neighborhoods by mobilizing public, private, and community resources at the neighborhood level; and
(2) the demand for neighborhood housing services programs in cities throughout the United States warrants the creation of a public corporation to institutionalize and expand the neighborhood housing services program and other programs of the present Urban Reinvestment Task Force.
**(b)** The purpose of this subchapter is to establish a public corporation which will continue the joint efforts of the Federal financial supervisory agencies and the Department of Housing and Urban Development to promote reinvestment in older neighborhoods by local financial institutions working cooperatively with community people and local government, and which will continue the nonbureaucratic approach of the Urban Reinvestment Task Force, relying largely on local initiative for the specific design of local programs.
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Source file: Laws/federal/codes/united-states-code/title-42/section-8101-congressional-findings-and-declaration-of-purpose--4d191c258a.md
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Source location: Title 42, Chapter 90, § 8101; chapter-090-neighborhood-and-city-reinvestment-self-help-and-revitalization.md
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**(a)** The Congress finds that—
(1) the neighborhood housing services demonstration of the Urban Reinvestment Task Force has proven its worth as a successful program to revitalize older urban neighborhoods by mobilizing public, private, and community resources at the neighborhood level; and
(2) the demand for neighborhood housing services programs in cities throughout the United States warrants the creation of a public corporation to institutionalize and expand the neighborhood housing services program and other programs of the present Urban Reinvestment Task Force.
**(b)** The purpose of this subchapter is to establish a public corporation which will continue the joint efforts of the Federal financial supervisory agencies and the Department of Housing and Urban Development to promote reinvestment in older neighborhoods by local financial institutions working cooperatively with community people and local government, and which will continue the nonbureaucratic approach of the Urban Reinvestment Task Force, relying largely on local initiative for the specific design of local programs.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Determination of credits for increases in community enterprise activities**
(1) **In general** — The Community Enterprise Assessment Credit Board established under subsection (d) shall issue guidelines for insured depository institutions eligible under this subsection for any community enterprise assessment credit with respect to any semiannual period. Such guidelines shall—
(A) designate the eligibility requirements for any institution meeting applicable capital standards to receive an assessment credit under [section 1817(b)(7) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1817/b/7&num=0&edition=prelim); and
(B) determine the community enterprise assessment credit available to any eligible institution under paragraph (3).
(2) **Qualifying activities** — An insured depository institution may apply for for 11 So in original. any community enterprise assessment credit for any semiannual period for—
(A) the amount, during such period, of new originations of qualified loans and other assistance provided for low- and moderate-income persons in distressed communities, or enterprises integrally involved with such neighborhoods, which the Board determines are qualified to be taken into account for purposes of this subsection;
(B) the amount, during such period, of deposits accepted from persons domiciled in the distressed community, at any office of the institution (including any branch) located in any qualified distressed community, and new originations of any loans and other financial assistance made within that community, except that in no case shall the credit for deposits at any institution or branch exceed the credit for loans and other financial assistance by the bank or branch in the distressed community;
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1834a
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Federal law — U.S. Code and appendices · legal_authorities
The Congress finds and declares—
(1) that artistic, cultural, and historic resources, including urban design, constitute an integral part of a suitable living environment for the residents of the Nation’s urban areas, and should be available to all residents of such areas, regardless of income;
(2) that the development or preservation of such resources is a significant and necessary factor in restoring and maintaining the vitality of the urban environment, and can serve as a catalyst for improving decaying or deteriorated urban communities and expanding economic opportunities, and for creating a sense of community identity, spirit, and pride; and
(3) that the encouragement and support of local initiatives to develop or preserve such resources, particularly in connection with federally assisted housing or community development activities or in communities with a high proportion of low-income residents, is an appropriate function of the Federal Government.
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 8141
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Federal law — U.S. Code and appendices · legal_authorities
Page 7532
TITLE 42—THE PUBLIC HEALTH AND WELFARE
§ 8101
SUBCHAPTER I—NEIGHBORHOOD
REINVESTMENT CORPORATION
§ 8101. Congressional findings and declaration of
purpose
(a) The Congress finds that—
(1) the neighborhood housing services dem-
onstration of the Urban Reinvestment Task
Force has proven its worth as a successful pro-
gram to revitalize older urban neighborhoods
by mobilizing public, private, and community
resources at the neighborhood level; and
(2) the demand for neighborhood housing
services programs in cities throughout the
United States warrants the creation of a pub-
lic corporation to institutionalize and expand
the neighborhood housing services program
and other programs of the present Urban Rein-
vestment Task Force.
(b) The purpose of this subchapter is to estab-
lish a public corporation which will continue the
joint efforts of the Federal financial supervisory
agencies and the Department of Housing and
Urban Development to promote reinvestment in
older neighborhoods by local financial institu-
tions working cooperatively with community
people and local government, and which will
continue the nonbureaucratic approach of the
Urban Reinvestment Task Force, relying largely
on local initiative for the specific design of local
programs.
(Pub. L. 95–557, title VI, § 602, Oct. 31, 1978, 92
Stat. 2115.)
Statutory Notes and Related Subsidiaries
SHORT TITLE
Pub. L. 95–557, title VI, § 601, Oct. 31, 1978, 92 Stat.
2115, provided that: ‘‘This title [enacting this sub-
chapter] may be cited as the ‘Neighborhood Reinvest-
ment Corporation Act’.’’
Pub. L. 95–557, title VII, § 701, Oct. 31, 1978, 92 Stat.
2119, which provided that such title, which was classi-
fied to subchapter II of this chapter, was to be cited as
the ‘‘Neighborhood Self
Source: Supplied 2024 U.S. Code historical extraction · 42 U.S.C. § 8101
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