42 U.S.C. § 8105 — Powers and duties of corporation

Page 7534 TITLE 42—THE PUBLIC HEALTH AND WELFARE § 8105 (d) Prohibition of political tests and qualifica- tions in selection, etc., of personnel No political test or political qualification shall be used in selecting, appointing, pro- moting, or taking any other personnel action with respect to any officer, agent, or employee of the corporation or of any recipient, or in se- lecting or monitoring any grantee, contractor, or person or entity receiving financial assist- ance under this subchapter. (e) Employee status; applicability of administra- tive and cost standards of Office of Manage- ment and Budget Officers and employees of the corporation shall not be considered officers or employees of the United States, and the corporation shall not be considered a department, agency, or instru- mentality of the Federal Government. The cor- poration shall be subject to administrative and cost standards issued by the Office of Manage- ment and Budget similar to standards applicable to non-profit grantees and educational institu- tions. (Pub. L. 95–557, title VI, § 605, Oct. 31, 1978, 92 Stat. 2116; Pub. L. 108–199, div. G, title III,[(1), (2)], Jan. 23, 2004, 118 Stat. 413; Pub. L. 111–117, div. A, title III, Dec. 16, 2009, 123 Stat. 3108.) Editorial Notes REFERENCES IN TEXT Levels II and IV of the Executive Schedule, referred to in subsec. (a), are set out in sections 5313 and 5315, respectively, of Title 5, Government Organization and Employees. AMENDMENTS 2009—Subsec. (a). Pub. L. 111–117 inserted ‘‘, except that the board-appointed officers may be paid salary at a rate not to exceed level II of the Executive Schedule’’ before period at end of first sentence. 2004—Subsec. (a). Pub. L. 108–199, title III, [(2)], added second sentence. Pub. L. 108–199, title III, [(1)], which directed the sub- stitution of ‘‘salary’’ for ‘‘compensation’’, was executed by making the substitution both places that ‘‘com- pensation’’ appeared to reflect the probable intent of Congress. Pub. L. 108–199, title III, [(1)], which directed substi- tution of ‘‘rate for level IV of the Executive Schedule’’ for ‘‘highest rate provided for GS–18 of the General Schedule under section 5332 of title 5 United States Code’’, was executed by making the substitution for ‘‘highest rate provided for GS–18 of the General Sched- ule under section 5332 of title 5, United States Code’’ to reflect the probable intent of Congress. § 8105. Powers and duties of corporation (a) Continuance of work of Urban Reinvestment Task Force regarding neighborhood housing services programs and preservation projects (1) The corporation shall continue the work of the Urban Reinvestment Task Force in estab- lishing neighborhood housing services programs in neighborhoods throughout the United States, monitoring their progress, and providing them with grants and technical assistance. For the purpose of this paragraph, a neighborhood hous- ing services program may involve a partnership of neighborhood residents and representatives of local governmental and financial institutions, organized as a State-chartered non-profit cor- poration, working to bring about reinvestment in one or more neighborhoods through a pro- gram of systematic housing inspections, in- creased public investment, increased private lending, increased resident investment, and a re- volving loan fund to make loans available at flexible rates and terms to homeowners not meeting private lending criteria. (2) The corporation shall continue the work of the Urban Reinvestment Task Force in identi- fying, monitoring, evaluating, and providing grants and technical assistance to selected neighborhood preservation projects which show promise as mechanisms for reversing neighbor- hood decline and improving the quality of neigh- borhood life. (3) The corporation shall experimentally rep- licate neighborhood preservation projects which have demonstrated success, and after creating reliable developmental processes, bring the new programs to neighborhoods throughout the United States which in the judgment of the cor- poration can benefit therefrom, by providing as- sistance in organizing programs, providing grants in partial support of program costs, and providing technical assistance to ongoing pro- grams. (4) The corporation shall continue the work of the Urban Reinvestment Task Force in sup- porting Neighborhood Housing Services of America, a nonprofit corporation established to provide services to local neighborhood housing services programs, with support which may in- clude technical assistance and grants to expand its national loan purchase pool and may con- tract with it for services which it can perform more efficiently or effectively than the corpora- tion. (5) The corporation shall, in making and pro- viding the foregoing grants and technical and other assistance, determine the reporting and management restrictions or requirements with which the recipients of such grants or other as- sistance must comply. In making such deter- minations, the corporation shall assure that re- cipients of grants and other assistance make available to the corporation such information as may be necessary to determine compliance with applicable Federal laws. (b) General administrative powers To carry out the foregoing purposes and en- gage in the foregoing activities, the corporation is authorized— (1) to adopt, alter, and use a corporate seal; (2) to have succession until dissolved by Act of Congress; (3) to make and perform contracts, agree- ments, and commitments; (4) to sue and be sued, complain and defend, in any State, Federal, or other court; (5) to determine its necessary expenditures and the manner in which the same shall be in- curred, allowed, and paid, and appoint, em- ploy, and fix and provide for the compensation of consultants, without regard to any other law, except as provided in section 8107(d) of this title; (6) to settle, adjust, and compromise, and with or without compensation or benefit to Page 7535 TITLE 42—THE PUBLIC HEALTH AND WELFARE § 8106 the corporation to release or waive in whole or in part, in advance or otherwise, any claim, demand, or right of, by, or against the cor- poration; (7) to invest such funds of the corporation in such investments as the board of directors may prescribe; (8) to acquire, take, hold, and own, and to deal with and dispose of any property; and (9) to exercise all other powers that are nec- essary and proper to carry out the purposes of this subchapter. (c) Contracting powers (1) The corporation may contract with the Of- fice of Neighborhood Reinvestment of the Fed- eral home loan banks for all staff, services, fa- cilities, and equipment now or in the future fur- nished by the Office of Neighborhood Reinvest- ment to the Urban Reinvestment Task Force, including receiving the services of the Director of the Office of Neighborhood Reinvestment as the corporation’s executive director. (2) The corporation shall have the power to award contracts and grants to— (A) neighborhood housing services corpora- tions and other nonprofit corporations en- gaged in neighborhood preservation activities; and (B) local governmental bodies. (3) The Secretary of Housing and Urban Devel- opment, the Federal Housing Finance Agency and the Federal home loan banks, the Board of Governors of the Federal Reserve System and the Federal Reserve banks, the Federal Deposit Insurance Corporation, and the Comptroller of the Currency, the National Credit Union Admin- istration or any other department, agency, or other instrumentality of the Federal Govern- ment are authorized to provide funds, services and facilities, with or without reimbursement, necessary to achieve the objectives and to carry out the purposes of this subchapter. (d) Non-profit nature of corporation (1) The corporation shall have no power to issue any shares of stocks, or to declare or pay any dividends. (2) No part of the income or assets of the cor- poration shall inure to the benefit of any direc- tor, officer, or employee, except as reasonable compensation for services or reimbursement for expenses. (3) The corporation may not contribute to or otherwise support any political party or can- didate for elective public office. (Pub. L. 95–557, title VI, § 606, Oct. 31, 1978, 92 Stat. 2117; Pub. L. 96–399, title III, § 315(2), Oct. 8, 1980, 94 Stat. 1645; Pub. L. 97–320, title VII, § 710(b), Oct. 15, 1982, 96 Stat. 1544; Pub. L. 111–203, title III, § 374, July 21, 2010, 124 Stat. 1566.) Editorial Notes AMENDMENTS 2010—Subsec. (c)(3). Pub. L. 111–203 substituted ‘‘Fed- eral Housing Finance Agency’’ for ‘‘Federal Home Loan Bank Board’’. 1982—Subsec. (c)(3). Pub. L. 97–320 inserted ‘‘funds,’’ after ‘‘provide’’. 1980—Subsec. (a)(1). Pub. L. 96–399 substituted ‘‘moni- toring’’ for ‘‘supervising’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2010 AMENDMENT Amendment by Pub. L. 111–203 effective on the trans- fer date, see section 351 of Pub. L. 111–203, set out as a note under section 906 of Title 2, The Congress. § 8106. Reports and audits (a) Annual report to President and Congress The corporation shall publish an annual report which shall be transmitted by the corporation to the President and the Congress. (b) Annual audit of accounts The accounts of the corporation shall be au- dited annually. Such audits shall be conducted in accordance with generally accepted auditing standards by independent certified public ac- countants who are certified by a regulatory au- thority of the jurisdiction in which the audit is undertaken. (c) Additional audits by Government Account- ability Office In addition to the annual audit, the financial transactions of the corporation for any fiscal year during which Federal funds are available to finance any portion of its operations may be au- dited by the Government Accountability Office in accordance with such rules and regulations as may be prescribed by the Comptroller General of the United States. (d) Audit of grantees and contractors of corpora- tion For any fiscal year during which Federal funds are available to finance any portion of the cor- poration’s grants or contracts, the Government Accountability Office, in accordance with such rules and regulations as may be prescribed by the Comptroller General of the United States, may audit the grantees or contractors of the corporation. (e) Annual financial audit The corporation shall conduct or require each grantee or contractor to provide for an annual financial audit. The report of each such audit shall be maintained for a period of at least five years at the principal office of the corporation. (Pub. L. 95–557, title VI, § 607, Oct. 31, 1978, 92 Stat. 2118; Pub. L. 104–66, title II, § 2161, Dec. 21, 1995, 109 Stat. 731; Pub. L. 108–271, § 8(b), July 7, 2004, 118 Stat. 814.) Editorial Notes AMENDMENTS 2004—Subsecs. (c), (d). Pub. L. 108–271 substituted ‘‘Government Accountability Office’’ for ‘‘General Ac- counting Office’’. 1995—Subsec. (c). Pub. L. 104–66 struck out at end ‘‘The financial transactions of the corporation shall be audited by the General Accounting Office at least once during each three years.’’ Statutory Notes and Related Subsidiaries NATIONAL DEMONSTRATION PROGRAM OF MUTUAL HOUSING ASSOCIATIONS; REPORT TO CONGRESS Pub. L. 96–399, title III, § 316, Oct. 8, 1980, 94 Stat. 1645, directed submission to Congress, not later than Sept.