FEDERAL · 12 U.S.C. · Chapter 42
Purposes
Current through Pub. L. 119-102
Title 12 — Banks and Banking·Ch. 42 — LOW-INCOME HOUSING PRESERVATION AND RESIDENT HOMEOWNERSHIP·Subch. II
The purposes of this subchapter are—
(1)to promote the ability of residents of eligible low-income housing to meaningfully participate in the preservation process established by this title 1 and affect decisions about the future of their housing;
(2)to promote the ability of community-based nonprofit housing developers and resident councils to acquire, rehabilitate, and competently own and manage eligible housing as rental or cooperative housing for low- and moderate-income people; and
(3)to assist the Secretary in discharging the obligation under section 4110 of this title to notify potential qualified purchasers of the availability of properties for sale and to otherwise facilitate the coordination and oversight of the preservation program established under this title.1
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12 U.S.C. § 4142 (Purposes) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
§ 4110
12 U.S.C. § 4110
Source Credit
History
(Pub. L. 100–242, title II, §252, as added Pub. L. 102–550, title III, §312, Oct. 28, 1992, 106 Stat. 3766.)
Editorial Notes
Editorial Notes
References in Text
This title, referred to in pars. (1) and (3), means title II of Pub. L. 100–242, as amended by Pub. L. 101–625, title VI, §601(a), Nov. 28, 1990, 104 Stat. 4249, known as the Low-Income Housing Preservation and Resident Homeownership Act of 1990, which is classified principally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under section 4101 of this title and Tables.
References in Text
This title, referred to in pars. (1) and (3), means title II of Pub. L. 100–242, as amended by Pub. L. 101–625, title VI, §601(a), Nov. 28, 1990, 104 Stat. 4249, known as the Low-Income Housing Preservation and Resident Homeownership Act of 1990, which is classified principally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under section 4101 of this title and Tables.