Us Code § 8102 - Neighborhood Reinvestment Corporation
Full text of Us Code United States Code § 8102 — Neighborhood Reinvestment Corporation, with citation guidance and answers to common questions.
§ 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".
About This Section
42 U.S.C. § 8102 is part of Title 42 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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