[USC02] 42 USC 8102: Neighborhood Reinvestment Corporation
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42 USC 8102: Neighborhood Reinvestment Corporation Text contains those laws in effect on November 28, 2020
From Title 42-THE PUBLIC HEALTH AND WELFARECHAPTER 90-NEIGHBORHOOD AND CITY REINVESTMENT, SELF-HELP AND REVITALIZATIONSUBCHAPTER I-NEIGHBORHOOD REINVESTMENT CORPORATION

§8102. Neighborhood Reinvestment Corporation

(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.

( 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 .)

Amendments

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