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Title 42 — The Public Health and Welfare

Chapter 90 — Neighborhood and City Reinvestment, Self-Help and Revitalization

§ 8102. Neighborhood Reinvestment Corporation

Statutory text

(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.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

  1. Housing and Community Development Amendments of 1978

    Pub. L. 95–557 title VI § 603 · 92 Stat. 2080

    Enacted · 42 U.S.C. § 8102

    Pub. L. 95–557, title VI, § 603, Oct. 31, 1978, 92 Stat. 2115

    Source evidence

    Code source credit
    Pub. L. 95–557, title VI, § 603, Oct. 31, 1978, 92 Stat. 2115

    Enacted provision · exact public law section
    Sec. 603. establishment of corporation (a) There is established 42 USC 8102. a National 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) The corporation shall implement and expand the demonstration Duties. activities carried out by the Urban Reinvestment Task Force. (c) The corporation shall maintain its principal office in the Offices. District of Columbia or at such other place the corporation may from time to time prescribe. (d) 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.

  2. Housing and Community Development Act of 1980

    Pub. L. 96–399 title III § 315(1) · 94 Stat. 1614

    Struck · 42 U.S.C. § 8102(a)

    Pub. L. 96–399 struck out “National” before “Neighborhood”

    Source evidence

    Code amendment note
    Subsec. (a). Pub. L. 96–399 struck out “National” before “Neighborhood”.

    Enacted provision · exact public law section
    (1) by striking out “National” in section 603(a); 42 USC 8102.

2 of 2 references resolved to an enrolled provision

Editorial Notes

Amendments

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

Credits

1978–1980 · 2 acts
  1. 1978Pub. L. 95–557, title VI, § 603, , 92 Stat. 2115
  2. 1980Pub. L. 96–399, title III, § 315(1), , 94 Stat. 1645.
Show as published

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

Parsed from the official OLRC USLM XML in data/usc_all/usc42.xml · release point 119-108 · OLRC build 2026-09-09

USLM identifier /us/usc/t42/s8102