Source: https://www.law.cornell.edu/uscode/text/42/3149
Timestamp: 2020-06-04 02:42:02
Document Index: 616516152

Matched Legal Cases: ['§ 3149', '§\u202f3149', '§\u202f209', '§\u202f102', '§\u202f207', '§\u202f1217', '§\u202f5121', '§\u202f77', '§\u202f78', '§\u202f207', '§\u202f207', 'ART 307']

42 U.S. Code § 3149 - Grants for economic adjustment | U.S. Code | US Law | LII / Legal Information Institute
Chapter 38. PUBLIC WORKS AND ECONOMIC DEVELOPMENT
Subchapter II. GRANTS FOR PUBLIC WORKS AND ECONOMIC DEVELOPMENT
Section 3149. Grants for economic adjustment
42 U.S. Code § 3149. Grants for economic adjustment
On the application of an eligible recipient, the Secretary may make grants for development of public facilities, public services, business development (including funding of a revolving loan fund), planning, technical assistance, training, and any other assistance to alleviate long-term economic deterioration and sudden and severe economic dislocation and further the economic adjustment objectives of this subchapter.
(b) Criteria for assistanceThe Secretary may provide assistance under this section only if the Secretary determines that—
(1) the project will help the area to meet a special need arising from—
(c) Particular community assistanceAssistance under this section may include assistance provided for activities identified by communities, the economies of which are injured by—
fishery failures, in areas with respect to which a determination that there is a commercial fishery failure has been made under section 1861a(a) of title 16; or
(d) Special provisions relating to revolving loan fund grants
The Secretary shall promulgate regulations to maintain the proper operation and financial integrity of revolving loan funds established by recipients with assistance under this section.
(2) Efficient administrationThe Secretary may—
(3) Treatment of actions
An action taken by the Secretary under this subsection with respect to a revolving loan fund shall not constitute a new obligation if all grant funds associated with the original grant award have been disbursed to the recipient.
(4) Preservation of securities laws
(A) Not treated as exempted securities
No securities issued pursuant to paragraph (2)(C) shall be treated as exempted securities for purposes of the Securities Act of 1933 (15 U.S.C. 77a et seq.) or the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.), unless exempted by rule or regulation of the Securities and Exchange Commission.
Except as provided in subparagraph (A), no provision of this subsection or any regulation promulgated by the Secretary under this subsection supersedes or otherwise affects the application of the securities laws (as the term is defined in section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a))) or the rules, regulations, or orders of the Securities and Exchange Commission or a self-regulatory organization under that Commission.
(e) Disaster mitigation
In providing assistance pursuant to subsection (c)(2), if appropriate and as applicable, the Secretary may encourage hazard mitigation in assistance provided pursuant to such subsection.
(Pub. L. 89–136, title II, § 209, as added Pub. L. 105–393, title I, § 102(a), Nov. 13, 1998, 112 Stat. 3605; amended Pub. L. 108–373, title II, § 207, Oct. 27, 2004, 118 Stat. 1762; Pub. L. 115–254, div. D, § 1217(a), Oct. 5, 2018, 132 Stat. 3451.)
The Robert T. Stafford Disaster Relief and Emergency Assistance Act, referred to in subsec. (c)(2), is Pub. L. 93–288, May 22, 1974, 88 Stat. 143, as amended, which is classified principally to chapter 68 (§ 5121 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 5121 of this title and Tables.
The Securities Act of 1933, referred to in subsec. (d)(4)(A), is title I of act May 27, 1933, ch. 38, 48 Stat. 74, as amended, which is classified generally to subchapter I (§ 77a et seq.) of chapter 2A of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see section 77a of Title 15 and Tables.
The Securities Exchange Act of 1934, referred to in subsec. (d)(4)(A), is act June 6, 1934, ch. 404, 48 Stat. 881, as amended, which is classified principally to chapter 2B (§ 78a et seq.) of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see section 78a of Title 15 and Tables.
2018—Subsec. (e). Pub. L. 115–254 added subsec. (e).
2004—Subsec. (c)(5). Pub. L. 108–373, § 207(a), added par. (5).
Subsec. (d). Pub. L. 108–373, § 207(b), added subsec. (d) and struck out heading and text of former subsec. (d). Text read as follows:
13 CFR PART 307 - ECONOMIC ADJUSTMENT ASSISTANCE INVESTMENTS