§ 4142. — Purposes.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC4142]
TITLE 12--BANKS AND BANKING
CHAPTER 42--LOW-INCOME HOUSING PRESERVATION AND RESIDENT HOMEOWNERSHIP
SUBCHAPTER II--TECHNICAL ASSISTANCE AND CAPACITY BUILDING
Sec. 4142. Purposes
The purposes of this subchapter are--
(1) to promote the ability of residents of eligible low-income
housing to meaningfully participate in the preservation process
established by this title \1\ and affect decisions about the future
of their housing;
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\1\ See References in Text note below.
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(2) to promote the ability of community-based nonprofit housing
developers and resident councils to acquire, rehabilitate, and
competently own and manage eligible housing as rental or cooperative
housing for low- and moderate-income people; and
(3) to assist the Secretary in discharging the obligation under
section 4110 of this title to notify potential qualified purchasers
of the availability of properties for sale and to otherwise
facilitate the coordination and oversight of the preservation
program established under this title.\1\
(Pub. L. 100-242, title II, Sec. 252, as added Pub. L. 102-550, title
III, Sec. 312, Oct. 28, 1992, 106 Stat. 3766.)
References in Text
This title, referred to in pars. (1) and (3), means title II of Pub.
L. 100-242, as amended by Pub. L. 101-625, title VI, Sec. 601(a), Nov.
28, 1990, 104 Stat. 4249, known as the Low-Income Housing Preservation
and Resident Homeownership Act of 1990, which is classified principally
to this chapter. For complete classification of this Act to the Code,
see Short Title note set out under section 4101 of this title and
Tables.
