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10 U.S.C. § 2875 — Investments
Federal law — U.S. Code and appendices · legal_authorities
**(a) Investments Authorized.—** The Secretary concerned may make investments in an eligible entity carrying out projects for the acquisition or construction of housing units suitable for use as military family housing or as military unaccompanied housing.
**(b) Forms of Investment.—** An investment under this section may take the form of an acquisition of a limited partnership interest by the United States, a purchase of stock or other equity instruments by the United States, a purchase of bonds or other debt instruments by the United States, or any combination of such forms of investment.
**(c) Limitation on Value of Investment.—**
(1) The cash amount of an investment under this section in an eligible entity may not exceed an amount equal to 33⅓ percent 11 See Temporary Increase in Percentage of Value of Authorized Investment in Certain Privatized Military Housing Projects note below. of the capital cost (as determined by the Secretary concerned) of the project or projects that the eligible entity proposes to carry out under this section with the investment.
(2) If the Secretary concerned conveys land or facilities to an eligible entity as all or part of an investment in the eligible entity under this section, the total value of the investment by the Secretary under this section may not exceed an amount equal to 45 percent 1 of the capital cost (as determined by the Secretary) of the project or projects that the eligible entity proposes to carry out under this section with the investment.
(3) In this subsection, the term “capital cost”, with respect to a project for the acquisition or construction of housing, means the total amount of the costs included in the basis of the housing for Federal income tax purposes.
**(d) Collateral Incentive Agreements.—** The Sec
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Source location: Title 10, Chapter 169, § 2875; chapter-169-military-construction-and-military-family-housing.md
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**(a) Investments Authorized.—** The Secretary concerned may make investments in an eligible entity carrying out projects for the acquisition or construction of housing units suitable for use as military family housing or as military unaccompanied housing.
**(b) Forms of Investment.—** An investment under this section may take the form of an acquisition of a limited partnership interest by the United States, a purchase of stock or other equity instruments by the United States, a purchase of bonds or other debt instruments by the United States, or any combination of such forms of investment.
**(c) Limitation on Value of Investment.—**
(1) The cash amount of an investment under this section in an eligible entity may not exceed an amount equal to 33⅓ percent 11 See Temporary Increase in Percentage of Value of Authorized Investment in Certain Privatized Military Housing Projects note below. of the capital cost (as determined by the Secretary concerned) of the project or projects that the eligible entity proposes to carry out under this section with the investment.
(2) If the Secretary concerned conveys land or facilities to an eligible entity as all or part of an investment in the eligible entity under this section, the total value of the investment by the Secretary under this section may not exceed an amount equal to 45 percent 1 of the capital cost (as determined by the Secretary) of the project or projects that the eligible entity proposes to carry out under this section with the investment.
(3) In this subsection, the term “capital cost”, with respect to a project for the acquisition or construction of housing, means the total amount of the costs included in the basis of the housing for Federal income tax purposes.
**(d) Collateral Incentive Agreements.—** The Secretary concerned shall enter into collateral incentive agreements with eligible entities in which the Secretary makes an investment under this section to ensure that a suitable preference will be afforded members of the armed forces and their dependents in the lease or purchase, as the case may be, of a reasonable number of the housing units covered by the investment.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Requirement.—** Whenever the Secretary of Defense or any other official of the Department of Defense submits to Congress (or any committee of either House of Congress) a report that the Secretary (or other official) is required by law to submit, the Secretary (or other official) shall provide to Congress (or such committee) a copy of the report in an electronic medium.
**(b) Exception.—** Subsection (a) does not apply to a report submitted in classified form.
**(c) Definition.—** In this section, the term “report” includes any certification, notification, or other communication in writing.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In General.—** The following definitions apply in this title:
(1) The term “United States”, in a geographic sense, means the States and the District of Columbia.
(2) Repealed. Pub. L. 109–163, div. A, title X, § 1057(a)(1), Jan. 6, 2006, 119 Stat. 3440.]
(3) The term “possessions” includes the Virgin Islands, Guam, American Samoa, and the Guano Islands, so long as they remain possessions, but does not include any Commonwealth.
(4) The term “armed forces” means the Army, Navy, Air Force, Marine Corps, Space Force, and Coast Guard.
(5) The term “uniformed services” means—
(A) the armed forces;
(B) the commissioned corps of the National Oceanic and Atmospheric Administration; and
(C) the commissioned corps of the Public Health Service.
(6) The term “department”, when used with respect to a military department, means the executive part of the department and all field headquarters, forces, reserve components, installations, activities, and functions under the control or supervision of the Secretary of the department. When used with respect to the Department of Defense, such term means the executive part of the department, including the executive parts of the military departments, and all field headquarters, forces, reserve components, installations, activities, and functions under the control or supervision of the Secretary of Defense, including those of the military departments.
(7) The term “executive part of the department” means the executive part of the Department of Defense, Department of the Army, Department of the Navy, or Department of the Air Force, as the case may be, at the seat of government.
(8) The term “military departments” means the Department of the Army, the Department of the Navy, and the Department of the Air Force.
(9) The term
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment.—** There are hereby established on the books of the Treasury the following accounts:
(1) The Department of Defense Family Housing Improvement Fund.
(2) The Department of Defense Military Unaccompanied Housing Improvement Fund.
**(b) Commingling of Funds Prohibited.—**
(1) The Secretary of Defense shall administer each Fund separately.
(2) Amounts in the Department of Defense Family Housing Improvement Fund may be used only to carry out activities under this subchapter with respect to military family housing.
(3) Amounts in the Department of Defense Military Unaccompanied Housing Improvement Fund may be used only to carry out activities under this subchapter with respect to military unaccompanied housing.
**(c) Credits to Funds.—**
(1) There shall be credited to the Department of Defense Family Housing Improvement Fund the following:
(A) Amounts authorized for and appropriated to that Fund.
(B) Subject to subsection (f), any amounts that the Secretary of Defense transfers, in such amounts as provided in appropriation Acts, to that Fund from amounts authorized and appropriated to the Department of Defense for the acquisition, improvement, or construction of military family housing.
(C) Proceeds from the conveyance or lease of property or facilities under [section 2878 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title10-section2878&num=0&edition=prelim) for the purpose of carrying out activities under this subchapter with respect to military family housing.
(D) Income derived from any activities under this subchapter with respect to military family housing, including interest on loans made under [section 2873 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title10-section28
Source: Supplied U.S. Code snapshot — release unconfirmed · 10 U.S.C. § 2883
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Federal law — U.S. Code and appendices · legal_authorities
Page 2300
TITLE 10—ARMED FORCES
§ 2873
(1) rescind the contract pursuant to the
terms of the contract; and
(2) prohibit the offending party from enter-
ing into a new contract or undertaking expan-
sions of other existing contracts, or both, with
the Secretary under this subchapter.
(Added Pub. L. 116–92, div. B, title XXX, § 3033(a),
Dec. 20, 2019, 133 Stat. 1936.)
§ 2873. Direct loans and loan guarantees
(a) DIRECT LOANS.—(1) Subject to subsection
(c), the Secretary concerned may make direct
loans to an eligible entity in order to provide
funds to the eligible entity for the acquisition or
construction of housing units that the Secretary
determines are suitable for use as military fam-
ily housing or as military unaccompanied hous-
ing.
(2) The Secretary concerned shall establish
such terms and conditions with respect to loans
made under this subsection as the Secretary
considers appropriate to protect the interests of
the United States, including the period and fre-
quency for repayment of such loans and the obli-
gations of the obligors on such loans upon de-
fault.
(b) LOAN
GUARANTEES.—(1) Subject to sub-
section (c), the Secretary concerned may guar-
antee a loan made to an eligible entity if the
proceeds of the loan are to be used by the eligi-
ble entity to acquire, or construct housing units
that the Secretary determines are suitable for
use as military family housing or as military
unaccompanied housing.
(2) The amount of a guarantee on a loan that
may be provided under paragraph (1) may not
exceed the amount equal to the lesser of—
(A) the amount equal to 80 percent of the
value of the project; or
(B) the amount of the outstanding principal
of the loan.
(3) The Secretary concerned shall establish
such terms and conditions with res
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