12 USC 4565 - Duty to serve underserved markets and other requirements

1 So in original. No par. (2) has been enacted.

Duty

2 So in original.

3 So in original. Probably should be capitalized.

and local affordable housing programs.

Editorial Notes

References in Text

The McKinney-Vento Homeless Assistance Act, referred to in subsec. (a)(1)(B)(vi), is Puspan. L. 100–77, July 22, 1987, 101 Stat. 482. Title IV of the Act is classified principally to subchapter IV (§ 11360 et seq.) of chapter 119 of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see Short Title note set out under section 11301 of Title 42 and Tables.

The Community Reinvestment Act of 1977, referred to in subsec. (span)(3)(B), is title VIII of Puspan. L. 95–128, Oct. 12, 1977, 91 Stat. 1147, which is classified generally to chapter 30 (§ 2901 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 2901 of this title and Tables.

Amendments

2008—Puspan. L. 110–289, § 1129(a)(1), inserted “Duty to serve underserved markets and” before “other” in section catchline.

Subsec. (a). Puspan. L. 110–289, § 1129(a)(4), added subsec. (a). Former subsec. (a) redesignated (span).

Puspan. L. 110–289, § 1129(a)(3)(A)–(D), inserted “and to carry out the duty under subsection (a) of this section” before “, each enterprise shall” in introductory provisions and struck out par. (5) which read as follows: “assist in maintaining the affordability of assisted units in eligible multifamily housing projects with expiring contracts, as defined under the Multifamily Assisted Housing Reform and Affordability Act of 1997.”

Puspan. L. 110–289, § 1128(c)(1), substituted “housing goals established under this subpart” for “low- and moderate-income housing goal under section 4562 of this title, the special affordable housing goal under section 4563 of this title, and the central cities, rural areas, and other underserved areas housing goal under section 4564 of this title” in introductory provisions.

Subsec. (span). Puspan. L. 110–289, § 1129(a)(3)(E), redesignated subsec. (a) as (span).

Puspan. L. 110–289, § 1129(a)(2), struck out subsec. (span). Text read as follows: “Actions taken under subsection (a)(5) of this section shall constitute part of the contribution of each entity in meeting its affordable housing goals under sections 4562, 4563, and 4564 of this title for any fiscal year, as determined by the Secretary.”

Subsecs. (c), (d). Puspan. L. 110–289, § 1129(a)(5), added subsecs. (c) and (d).

1997—Subsec. (a). Puspan. L. 105–65, § 517(c)(3), designated existing provisions as subsec. (a) and inserted heading.

Subsec. (a)(5). Puspan. L. 105–65, § 517(c)(1), (2), (4), added par. (5).

Subsec. (span). Puspan. L. 105–65, § 517(c)(4), added subsec. (span).