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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 4146 Definitions us united_states_code code_section 12 BANKS AND BANKING 42 LOW-INCOME HOUSING PRESERVATION AND RESIDENT HOMEOWNERSHIP 4146 12 U.S.C. § 4146 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip /us/usc/t12/s4146 data/legal/raw/us/code/title-12/usc12.xml d0ae03df1dfa6ce5e8b067dc8a9d2747dd02488ed5cf4bd6ad14d7690708d279 e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa c959dc5f29a695fef0e0087b3137f4a1df2e3ac06304dc9ad812375bc82f6edf 2026-07-04 official
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12 U.S.C. § 4146 - Definitions

Text

For purposes of this subchapter—

(1) the term “community-based nonprofit housing developer” means a nonprofit community development corporation that—

(A) has been classified by the Internal Revenue Service as an exempt organization under section 501(c)(3) of title 26;

(B) has been in existence for at least 2 years prior to the date of the grant application;

(C) has a record of service to low- and moderate-income people in the community in which the project is located;

(D) is organized at the neighborhood, city, county or multi-county level; and

(E) in the case of a corporation acquiring eligible housing under subchapter I of this chapter, agrees to form a purchaser entity that conforms to the definition of a community-based nonprofit organization under such subchapter and agrees to use its best efforts to secure majority tenant consent to the acquisition of the project for which grant assistance is requested; and

(2) the terms “eligible low-income housing”, “nonprofit organization”, “owner”, and “resident council” have the meanings given such terms in section 4119 of this title.

(Pub. L. 100242, title II, § 256, as added Pub. L. 102550, title III, § 312, Oct. 28, 1992, 106 Stat. 3769.)