Title 42 — The Public Health and Welfare
Chapter 90 — Neighborhood and City Reinvestment, Self-Help and Revitalization
§ 8102. Neighborhood Reinvestment Corporation
Statutory text
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.
Implementation and expansion of demonstration activities
The corporation shall implement and expand the demonstration activities carried out by the Urban Reinvestment Task Force.
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.
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.
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. 2115Enacted 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.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
- 1978Pub. L. 95–557, title VI, § 603, , 92 Stat. 2115
- 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.)