42 U.S.C. § 8102 — Neighborhood Reinvestment Corporation

FEDERAL · 42 U.S.C. · Chapter 90

Neighborhood Reinvestment Corporation

Current through Pub. L. 119-102

Title 42 — The Public Health and Welfare·Ch. 90 — NEIGHBORHOOD AND CITY REINVESTMENT, SELF-HELP AND REVITALIZATION·Subch. I

(a)Establishment There is established a Neighborhood Reinvestment Corporation (hereinafter referred to as the "corporation") which shall be a body corporate and shall possess the powers, and shall be subject to the direction and limitations specified herein.

(b)Implementation and expansion of demonstration activities The corporation shall implement and expand the demonstration activities carried out by the Urban Reinvestment Task Force.

(c)Principal office The corporation shall maintain its principal office in the District of Columbia or at such other place the corporation may from time to time prescribe.

(d)Exemption from taxation The corporation, including its franchise, activities, assets, and income, shall be exempt from all taxation now or hereafter imposed by the United States, b

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(a) Establishment
There is established a Neighborhood Reinvestment Corporation (hereinafter referred to as the "corporation") which shall be a body corporate and shall possess the powers, and shall be subject to the direction and limitations specified herein.
(b) Implementation and expansion of demonstration activities
The corporation shall implement and expand the demonstration activities carried out by the Urban Reinvestment Task Force.
(c) Principal office
The corporation shall maintain its principal office in the District of Columbia or at such other place the corporation may from time to time prescribe.
(d) Exemption from taxation
The corporation, including its franchise, activities, assets, and income, shall be exempt from all taxation now or hereafter imposed by the United States, by any territory, dependency, or possession thereof, or by any State, county, municipality, or local taxing authority, except that any real property of the corporation shall be subject to State, territorial, county, municipal, or local taxation to the same extent according to its value as other real property is taxed.

42 U.S.C. § 8102 (Neighborhood Reinvestment Corporation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Pub. L. 95–557, title VI, §603, Oct. 31, 1978, 92 Stat. 2115; Pub. L. 96–399, title III, §315(1), Oct. 8, 1980, 94 Stat. 1645.)

Editorial Notes

Editorial Notes

Amendments
1980—Subsec. (a). Pub. L. 96–399 struck out "National" before "Neighborhood".