Source: http://www4.law.cornell.edu/uscode/text/12/4119
Timestamp: 2013-12-10 13:51:34
Document Index: 385277266

Matched Legal Cases: ['§ 4119', '§ 4119', '§ 4119', '§ 229', '§ 601', '§ 310', '§ 310', '§ 317']

12 USC § 4119 - Definitions | Title 12 - Banks and Banking | U.S. Code | LII / Legal Information Institute
USC › Title 12 › Chapter 42 › Subchapter I › § 4119 › prevnext
12 USC § 4119 - Definitions
The term “eligible low-income housing” means any housing financed by a loan or mortgage—
insured or held by the Secretary under section 1715l
(d)(3) of this title and receiving loan management assistance under section 1437f of title 42 due to a conversion from section 1701s of this title;
insured or held by the Secretary and bears interest at a rate determined under the proviso of section 1715l
(d)(5) of this title;
The term “Federal cost limit” means, for any eligible low-income housing, the amount determined under section 4105
The terms “low-income families or persons” and “very low-income families or persons” mean families or persons whose incomes do not exceed the respective levels established for low-income families and very low-income families, respectively, under section 1437a
(b)(2) of title 42.
The term “nonprofit organization” means any private, nonprofit organization that—
The term “preservation equity” means, for any eligible low-income housing—
for purposes of determining the authorized return under section 4104
(a) of this title and providing incentives to extend the low-income affordability restrictions on the housing under section 4109 of this title—
the preservation value of the housing determined under section 4103
(b)(1) of this title; less
for purposes of determining incentives under section [1]
4110 and 4111 of this title and determining the amount of an acquisition loan under the provisions of section 1715z–6
(b)(2) of this title; less
The term “preservation value” means, for any eligible low-income housing, the applicable value determined under paragraph (1) or (2) of section 4103
(Pub. L. 100–242, title II, § 229, as added Pub. L. 101–625, title VI, § 601(a),Nov. 28, 1990, 104 Stat. 4271; amended Pub. L. 102–550, title III, §§ 310, 317(a)(5),Oct. 28, 1992, 106 Stat. 3765, 3772; Pub. L. 103–327, title II, Sept. 28, 1994, 108 Stat. 2316.)
Section 1715z–6
(f) of this title, referred to in par. (8)(B), was repealed by Pub. L. 104–204, title II, Sept. 26, 1996, 110 Stat. 2885.
Amendment by Pub. L. 103–327is based on section 601(e) of title VI of S. 2281, One Hundred Third Congress, as reported July 13, 1994, which was enacted into law by Pub. L. 103–327.
1994—Par. (4). Pub. L. 103–327temporarily amended par. (4) to read as follows:
1992—Par. (1)(A)(i). Pub. L. 102–550, § 310, substituted “receiving loan management assistance under section 1437f of title 42 due to a conversion from section 1701s of this title” for “assisted under section 1701s of this title or section 1437f of title 42”.
Par. (11)(A). Pub. L. 102–550, § 317(a)(5), substituted “residents” for “resident”.
Amendment by Pub. L. 103–327effective only during fiscal year 1995, see provision of title II of Pub. L. 103–327set out as a note under section 4112 of this title.