Part B—Development of New Communities
The new communities program was liquidated and its assets and liabilities transferred pursuant to sections 1701g–5a and 1701g–5b of Title 12, Banks and Banking.
Section 4511, Pub. L. 91–609, title VII, §710, Dec. 31, 1970, 84 Stat. 1793, set out Congressional findings and purpose in setting up program for development of new communities.
Section 4512, Pub. L. 91–609, title VII, §711, Dec. 31, 1970, 84 Stat. 1795; Pub. L. 93–383, title VIII, §803(a)(1), (e), Aug. 22, 1974, 88 Stat. 725, defined terms used in this part.
Section 4513, Pub. L. 91–609, title VII, §712, Dec. 31, 1970, 84 Stat. 1796, set out conditions under which a new community development program qualified for assistance under this part.
Section 4514, Pub. L. 91–609, title VII, §713, Dec. 31, 1970, 84 Stat. 1796; Pub. L. 93–117, §12, Oct. 2, 1973, 87 Stat. 423; Pub. L. 93–383, title VIII, §803(a)(1), (c), Aug. 22, 1974, 88 Stat. 725, authorized guarantee of bonds, notes, debentures, and other obligations in connection with approved new community developments.
Section 4515, Pub. L. 91–609, title VII, §714, Dec. 31, 1970, 84 Stat. 1797; Pub. L. 93–383, title VIII, §803(a)(1), Aug. 22, 1974, 88 Stat. 725, authorized making of loans by Secretary in connection with new community developments.
Section 4516, Pub. L. 91–609, title VII, §715, Dec. 31, 1970, 84 Stat. 1798; Pub. L. 93–383, title VIII, §803(a)(1), Aug. 22, 1974, 88 Stat. 725, provided for public service grants and authorized appropriations therefor.
Section 4517, Pub. L. 91–609, title VII, §716, Dec. 31, 1970, 84 Stat. 1798, set limitations on guarantees and loans.
Section 4518, Pub. L. 91–609, title VII, §717, Dec. 31, 1970, 84 Stat. 1798; Pub. L. 97–35, title III, §339F, Aug. 13, 1981, 95 Stat. 418, created a revolving fund for use in connection with the new communities development program.
Section 4519, Pub. L. 91–609, title VII, §718, Dec. 31, 1970, 84 Stat. 1799; Pub. L. 92–213, §7, Dec. 22, 1971, 85 Stat. 776; Pub. L. 93–383, title VIII, §803(d), Aug. 22, 1974, 88 Stat. 725, provided for supplementary grants for carrying out new community assistance projects.
Section 4520, Pub. L. 91–609, title VII, §719, Dec. 31, 1970, 84 Stat. 1800, authorized Secretary to provide technical assistance to private and public bodies in carrying out new community development programs.
Section 4521, Pub. L. 91–609, title VII, §720, Dec. 31, 1970, 84 Stat. 1800; Pub. L. 94–375, §19, Aug. 3, 1976, 90 Stat. 1077; Pub. L. 95–128, title II, §208, Oct. 12, 1977, 91 Stat. 1130; Pub. L. 95–406, §4, Sept. 30, 1978, 92 Stat. 880; Pub. L. 95–557, title III, §306, Oct. 31, 1978, 92 Stat. 2097, provided for financial assistance for planning new community development programs.
Section 4522, Pub. L. 91–609, title VII, §721, Dec. 31, 1970, 84 Stat. 1801, authorized establishment and collection of fees and charges for the guarantees and other assistance provided in the new communities development program.
Section 4523, Pub. L. 91–609, title VII, §722, Dec. 31, 1970, 84 Stat. 1801, directed Secretary to develop methods of encouraging involvement of small builders in new communities development program.
Section 4524, Pub. L. 91–609, title VII, §723, Dec. 31, 1970, 84 Stat. 1801, provided authority for new communities demonstration projects.
Statutory Notes and Related Subsidiaries
Savings Provision
Pub. L. 98–181, title I [title IV, §474(e)], Nov. 30, 1983, 97 Stat. 1239, provided in part that: "Section 717 of title VII [42 U.S.C. 4518] shall remain in effect until completion of the transfer required in title I of the Department of Housing and Urban Development-Independent Agencies Appropriation Act, 1984 [12 U.S.C. 1701g–5a]."
Any actions taken, prior to repeal, under the authority of sections 4511 to 4524 and 4528 to 4532 of this title to continue to be valid, with nothing in the repeal impairing the validity of any guarantees which have been made pursuant to this chapter and with such guarantees continuing to be governed by the provisions of this chapter, as it existed immediately before Nov. 30, 1983, see section 474(e) of Pub. L. 98–181, set out in part as a note under section 3901 of this title.
§4525. Real property taxation
Nothing in this part shall be construed to exempt any real property that may be acquired and held by the Secretary as a result of the exercise of lien or subrogation rights from real property taxation to the same extent, according to its value, as other real property is taxed.
(Pub. L. 91–609, title VII, §724, Dec. 31, 1970, 84 Stat. 1801.)
§4526. Audit by Government Accountability Office
Insofar as they relate to any guarantees, loans, or grants made pursuant to this part, the financial transactions of recipients of Federal assistance may be audited by the Government Accountability Office under such rules and regulations as may be prescribed by the Comptroller General of the United States. The representatives of the Government Accountability Office shall have access to all books, accounts, records, reports, files and all other papers, things, or property belonging to or in use by such recipients pertaining to such financial transactions and necessary to facilitate the audit.
(Pub. L. 91–609, title VII, §725, Dec. 31, 1970, 84 Stat. 1801; Pub. L. 108–271, §8(b), July 7, 2004, 118 Stat. 814.)
Editorial Notes
Amendments
2004—Pub. L. 108–271 substituted "Government Accountability Office" for "General Accounting Office" in section catchline and two places in text.
§4527. General powers of Secretary
In the performance of, and with respect to, the functions, powers, and duties vested in him by this part, the Secretary, in addition to any authority otherwise vested in him, shall—
(1) have the functions, powers, and duties (including the authority to issue rules and regulations) set forth in section 1749a,1 except subsections (c)(2), (c)(4), (d), and (f), of title 12: Provided, That subsection (a)(1) of section 1749a 1 of title 12 shall not apply with respect to functions, powers, and duties under section 4520 1 of this title;
(2) have the power, notwithstanding any other provision of law, in connection with any assistance under this part, whether before or after any default, to provide by contract for the extinguishment upon default of any redemption, equitable, legal, or other right, title, or interest of the private new community developer or State land development agency in any mortgage, deed, trust, or other instrument held by or on behalf of the Secretary for the protection of the security interests of the United States; and
(3) have the power to foreclose on any property or commence any action to protect or enforce any right conferred upon him by law, contract, or other agreement, and bid for and purchase at any foreclosure or other sale any property in connection with which he has provided assistance pursuant to this part. In the event of any such acquisition, the Secretary may, notwithstanding any other provision of law relating to the acquisition, handling, or disposal of real property by the United States, complete, administer, remodel and convert, dispose of, lease, and otherwise deal with, such property. Notwithstanding any other provision of law, the Secretary shall also have power to pursue to final collection by way of compromise or otherwise all claims acquired by him in connection with any security, subrogation, or other rights obtained by him in administering this part.
(Pub. L. 91–609, title VII, §726, Dec. 31, 1970, 84 Stat. 1801.)
Editorial Notes
References in Text
Section 1749a of title 12, referred to in par. (1), was repealed by Pub. L. 99–498, title VII, §702, Oct. 17, 1986, 100 Stat. 1545.
Section 4520 of this title, referred to in par. (1), was repealed by Pub. L. 98–181, title I [title IV, §474(e)], Nov. 30, 1983, 97 Stat. 1239.
Section 4528, Pub. L. 91–609, title VII, §727(a), Dec. 31, 1970, 84 Stat. 1802, provided for termination of new community development projects under chapter 48 (§3901 et seq.) of this title and transition provisions for projects under this part.
Section 4529, Pub. L. 91–609, title VII, §727(f), Dec. 31, 1970, 84 Stat. 1803, provided for application of Federal labor standards for laborers and mechanics employed by contractors and subcontractors in new communities development program.
Section 4530, Pub. L. 91–609, title VII, §727(g), Dec. 31, 1970, 84 Stat. 1803, directed that the interest paid on obligations issued by State land development agencies be included as gross income for purposes of chapter 1 of title 26.
Section 4531, Pub. L. 91–609, title VII, §728, Dec. 31, 1970, 84 Stat. 1803, authorized use of funds under the new communities development program jointly with funds available under other Federal assistance programs.
Section 4532, Pub. L. 91–609, title VII, §729, Dec. 31, 1970, 84 Stat. 1804; Pub. L. 93–383, title VIII, §803(a), (b), Aug. 22, 1974, 88 Stat. 725, provided for establishment and operation of New Community Development Corporation within Department of Housing and Urban Development.