Title 42 — The Public Health and WelfareRelease 119-73

§8102 Neighborhood Reinvestment Corporation

Title 42 › Chapter CHAPTER 90— - NEIGHBORHOOD AND CITY REINVESTMENT, SELF-HELP AND REVITALIZATION › Subchapter SUBCHAPTER I— - NEIGHBORHOOD REINVESTMENT CORPORATION › § 8102

Last updated Apr 6, 2026|Official source

Summary

Creates the Neighborhood Reinvestment Corporation to run and expand demonstration projects started by the Urban Reinvestment Task Force. Its main office must be in Washington, D.C., unless it chooses another location. The corporation, its assets and income, are exempt from federal, territorial, state, and local taxes, but its real property must pay property tax like other property.

Full Legal Text

Title 42, §8102

The Public Health and Welfare — Source: USLM XML via OLRC

(a)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)The corporation shall implement and expand the demonstration activities carried out by the Urban Reinvestment Task Force.

(c)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)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.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

1980—Subsec. (a). Pub. L. 96–399 struck out “National” before “Neighborhood”.

Reference

Citations & Metadata

Citation

42 U.S.C. § 8102

Title 42 — The Public Health and Welfare

Last Updated

Apr 6, 2026

Release point: 119-73