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Title 42, The Public Health and WelfareRelease 119-110

§8102 Neighborhood Reinvestment Corporation

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

Last updated Sep 22, 2026|Official source

Summary

Creates the Neighborhood Reinvestment Corporation as a federal corporation. It must carry out and expand the pilot projects started by the Urban Reinvestment Task Force. The corporation must keep its main office in the District of Columbia unless it chooses another location. The corporation and its income, assets, and operations are exempt from federal, state, territorial, and local taxes, except its real estate, which is taxed like other property based on its value.

Full Legal Text

Title 42, §8102

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

(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.

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

Sep 22, 2026

Release point: 119-110