42 U.S.C. § 8102
Neighborhood Reinvestment Corporation
- Code
- United States Code
- Title
- 42
- Section
- 8102
- Text current through
- Pub. L. 119-111
What does the statute say?
§ 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.)
Editorial Notes
Amendments
1980—Subsec. (a). Pub. L. 96–399 struck out “National” before “Neighborhood”.
The text is copied from the official source: uscode.house.gov. This is the stored text for research. It is not legal advice; check the official source before you rely on it.