---
kind: "section"
citation: "12 U.S.C. § 1834a"
title: "12"
title_heading: "Banks and Banking"
number: "1834a"
heading: "Assessment credits for qualifying activities relating to distressed communities"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/1834a"
units:
  - "Chapter 16 — Federal Deposit Insurance Corporation"
---

# §1834a. Assessment credits for qualifying activities relating to distressed communities

- (a) **Determination of credits for increases in community enterprise activities—**
  - (1) **In general—** The Community Enterprise Assessment [Credit](/usc/12/5481.md?p=7) [Board](/usc/12/1861.md?p=b-3) established under [subsection (d)](#d) shall issue guidelines for [insured depository institutions](/usc/12/1813.md?p=c-2) eligible under this subsection for any community enterprise assessment [credit](/usc/12/5481.md?p=7) with respect to any semiannual period. Such guidelines shall—
    - (A) designate the eligibility requirements for any institution meeting applicable capital standards to receive an assessment [credit](/usc/12/5481.md?p=7) under [section 1817(b)(7) of this title](/usc/12/1817.md); and
    - (B) determine the community enterprise assessment [credit](/usc/12/5481.md?p=7) available to any eligible institution under [paragraph (3)](#a-3).
  - (2) **Qualifying activities—** An [insured depository institution](/usc/12/1813.md?p=c-2) may apply for for[^1] any community enterprise assessment [credit](/usc/12/5481.md?p=7) for any semiannual period for—
    - (A) the amount, during such period, of new originations of qualified loans and other assistance provided for low- and moderate-income [persons](/usc/12/5481.md?p=19) in distressed communities, or enterprises integrally involved with such neighborhoods, which the [Board](/usc/12/1861.md?p=b-3) determines are qualified to be taken into account for purposes of this subsection;
    - (B) the amount, during such period, of [deposits](/usc/12/1813.md?p=l) accepted from [persons](/usc/12/5481.md?p=19) domiciled in the distressed community, at any office of the institution ([including](/usc/12/1813.md?p=t-1) any branch) located in any qualified distressed community, and new originations of any loans and other financial assistance made within that community, except that in no case shall the [credit](/usc/12/5481.md?p=7) for [deposits](/usc/12/1813.md?p=l) at any institution or branch exceed the [credit](/usc/12/5481.md?p=7) for loans and other financial assistance by the [bank](/usc/12/1813.md?p=a-1) or branch in the distressed community; and
    - (C) any increase during the period in the amount of new equity investments in community development financial institutions.
  - (3) **Amount of assessment credit—** The amount of any community enterprise assessment [credit](/usc/12/5481.md?p=7) available under [section 1817(b)(7) of this title](/usc/12/1817.md) for any [insured depository institution](/usc/12/1813.md?p=c-2), or a qualified portion thereof, shall be the amount which is equal to 5 percent, in the case of an institution which does not meet the community development organization requirements under [section 1834b of this title](/usc/12/1834b.md), and 15 percent, in the case of an institution, or a qualified portion thereof, which meets such requirements (or any percentage designated under [paragraph (5)](#a-5)) of—
    - (A) for the first full semiannual period in which community enterprise assessment [credits](/usc/12/5481.md?p=7) are available, the sum of—
      - (i) the amounts of assets described in [paragraph (2)(A)](#a-2-A); and
      - (ii) the amounts of [deposits](/usc/12/1813.md?p=l), loans, and other financial assistance described in [paragraph (2)(B)](#a-2-B); and
    - (B) for any subsequent semiannual period, the sum of—
      - (i) any increase during such period in the amount of assets described in [paragraph (2)(A)](#a-2-A) that has been deemed eligible for [credit](/usc/12/5481.md?p=7) by the [Board](/usc/12/1861.md?p=b-3); and
      - (ii) any increase during such period in the amounts of [deposits](/usc/12/1813.md?p=l), loans, and other financial assistance described in [paragraph (2)(B)](#a-2-B) that has been deemed eligible for [credit](/usc/12/5481.md?p=7) by the [Board](/usc/12/1861.md?p=b-3).
  - (4) **Determination of qualified loans and other financial assistance—** Except as provided in [paragraph (6)](#a-6), the types of loans and other assistance which the [Board](/usc/12/1861.md?p=b-3) may determine to be qualified to be taken into account under [paragraph (2)(A)](#a-2-A) for purposes of the community enterprise assessment [credit](/usc/12/5481.md?p=7), may include the following:
    - (A) Loans insured or guaranteed by the [Secretary](/usc/12/1715z–22a.md?p=4) of Housing and Urban Development, the [Secretary](/usc/12/1715z–22a.md?p=4) of the Department of Veterans Affairs, the Administrator of the Small Business Administration, and the [Secretary](/usc/12/1715z–22a.md?p=4) of Agriculture.
    - (B) Loans or financing provided in connection with activities assisted by the Administrator of the Small Business Administration or any small business investment [company](/usc/12/1813.md?p=w-7) and investments in small business investment [companies](/usc/12/1813.md?p=w-7).
    - (C) Loans or financing provided in connection with any neighborhood housing service program assisted under the Neighborhood Reinvestment Corporation Act [[42 U.S.C. 8101](/usc/42/8101.md) et seq.].
    - (D) Loans or financing provided in connection with any activities assisted under the community development block grant program under title I of the Housing and Community Development Act of 1974 [[42 U.S.C. 5301](/usc/42/5301.md) et seq.].
    - (E) Loans or financing provided in connection with activities assisted under title II of the Cranston-Gonzalez National Affordable Housing Act [[42 U.S.C. 12721](/usc/42/12721.md) et seq.].
    - (F) Loans or financing provided in connection with a homeownership program assisted under title III of the United States Housing Act of 1937 [[42 U.S.C. 1437aaa](/usc/42/1437aaa.md) et seq.] or subtitle B or C of title IV of the Cranston-Gonzalez National Affordable Housing Act [[42 U.S.C. 12871](/usc/42/12871.md) et seq., 12891 et seq.].
    - (G) Financial assistance provided through community development corporations.
    - (H) Federal and [State](/usc/12/1813.md?p=a-3) programs providing interest rate assistance for homeowners.
    - (I) Extensions of [credit](/usc/12/5481.md?p=7) to nonprofit developers or purchasers of low-income housing and small business developments.
    - (J) In the case of members of any Federal home loan [bank](/usc/12/1813.md?p=a-1), participation in the community investment fund program established by the Federal home loan [banks](/usc/12/1813.md?p=a-1).
    - (K) Conventional [mortgages](/usc/12/1707.md?p=a) targeted to low- or moderate-income [persons](/usc/12/5481.md?p=19).
    - (L) Loans made for the purpose of developing or supporting—
      - (i) commercial facilities that enhance revitalization, community stability, or job creation and retention efforts;
      - (ii) business creation and expansion efforts that—
        - (I) create or retain jobs for low-income people;
        - (II) enhance the availability of products and services to low-income people; or
        - (III) create or retain businesses owned by low-income people or residents of a targeted area;
      - (iii) community facilities that provide benefits to low-income people or enhance community stability;
      - (iv) home ownership opportunities that are affordable to low-income households;
      - (v) rental housing that is principally affordable to low-income households; and
      - (vi) other activities deemed appropriate by the [Board](/usc/12/1861.md?p=b-3).
    - (M) The provision of technical assistance to residents of qualified distressed communities in managing their personal finances through [consumer](/usc/12/5481.md?p=4) education programs either sponsored or offered by [insured depository institutions](/usc/12/1813.md?p=c-2).
    - (N) The provision of technical assistance and consulting services to newly formed small businesses located in qualified distressed communities.
    - (O) The provision of technical assistance to, or servicing the loans of low- or moderate-income homeowners and homeowners located in qualified distressed communities.
  - (5) **Adjustment of percentage—** The [Board](/usc/12/1861.md?p=b-3) may increase or decrease the percentage referred to in [paragraph (3)(A)](#a-3-A) for determining the amount of any community enterprise assessment [credit](/usc/12/5481.md?p=7) pursuant to such paragraph, except that the percentage established for [insured depository institutions](/usc/12/1813.md?p=c-2) which meet the community development organization requirements under [section 1834b of this title](/usc/12/1834b.md) shall not be less than 3 times the amount of the percentage applicable for [insured depository institutions](/usc/12/1813.md?p=c-2) which do not meet such requirements.
  - (6) **Certain investments not eligible to be taken into account—** Loans, financial assistance, and equity investments made by any [insured depository institution](/usc/12/1813.md?p=c-2) that are not the result of originations by the institution shall not be taken into account for purposes of determining the amount of any [credit](/usc/12/5481.md?p=7) pursuant to this subsection.
  - (7) **Quantitative analysis of technical assistance—** The [Board](/usc/12/1861.md?p=b-3) may establish guidelines for analyzing the technical assistance described in subparagraphs [(M)](#a-4-M), [(N)](#a-4-N), and [(O)](#a-4-O) of paragraph (4) for the purpose of quantifying the results of such assistance in determining the amount of any community assessment [credit](/usc/12/5481.md?p=7) under this subsection.
- (b) **“Qualified distressed community” defined—**
  - (1) **In general—** For purposes of this section, the term “qualified distressed community” means any neighborhood or community which—
    - (A) meets the minimum area requirements under [paragraph (3)](#b-3) and the eligibility requirements of [paragraph (4)](#b-4); and
    - (B) is designated as a distressed community by any [insured depository institution](/usc/12/1813.md?p=c-2) in accordance with [paragraph (2)](#b-2) and such designation is not disapproved under such paragraph.
  - (2) **Designation requirements—**
    - (A) **Notice of designation—**
      - (i) **Notice to agency—** Upon designating an area as a qualified distressed community, an [insured depository institution](/usc/12/1813.md?p=c-2) shall notify the [appropriate Federal banking agency](/usc/12/1813.md?p=q) of the designation.
      - (ii) **Public notice—** Upon the effective date of any designation of an area as a qualified distressed community, an [insured depository institution](/usc/12/1813.md?p=c-2) shall publish a notice of such designation in major newspapers and other community publications which serve such area.
    - (B) **Agency duties relating to designations—**
      - (i) **Providing information—** At the request of any [insured depository institution](/usc/12/1813.md?p=c-2), the [appropriate Federal banking agency](/usc/12/1813.md?p=q) shall provide to the institution appropriate information to assist the institution to identify and designate a qualified distressed community.
      - (ii) **Period for disapproval—** Any notice received by the [appropriate Federal banking agency](/usc/12/1813.md?p=q) from any [insured depository institution](/usc/12/1813.md?p=c-2) under [subparagraph (A)(i)](#b-2-A-i) shall take effect at the end of the 90-day period beginning on the date such notice is received unless written notice of the approval or disapproval of the application by the agency is provided to the institution before the end of such period.
  - (3) **Minimum area requirements—** For purposes of this subsection, an area meets the requirements of this paragraph if—
    - (A) the area is within the jurisdiction of 1 unit of general local government;
    - (B) the boundary of the area is contiguous; and
    - (C) the area—
      - (i) has a population, as determined by the most recent census data available, of not less than—
        - (I) 4,000, if any portion of such area is located within a metropolitan statistical area (as designated by the [Director](/usc/12/5481.md?p=10) of the Office of Management and Budget) with a population of 50,000 or more; or
        - (II) 1,000, in any other case; or
      - (ii) is entirely within an Indian reservation (as determined by the [Secretary](/usc/12/1715z–22a.md?p=4) of the Interior).
  - (4) **Eligibility requirements—** For purposes of this subsection, an area meets the requirements of this paragraph if the following criteria are met:
    - (A) At least 30 percent of the residents residing in the area have incomes which are less than the national poverty level.
    - (B) The unemployment rate for the area is 1½ times greater than the national average (as determined by the [Bureau](/usc/12/5481.md?p=2) of Labor Statistics’ most recent figures).
    - (C) Such additional eligibility requirements as the [Board](/usc/12/1861.md?p=b-3) may, in its discretion, deem necessary to carry out the provisions of this subtitle.
- (c) **Omitted—**
- (d) **Community Enterprise Assessment Credit Board—**
  - (1) **Establishment—** There is hereby established the “Community Enterprise Assessment [Credit](/usc/12/5481.md?p=7) [Board](/usc/12/1861.md?p=b-3)”.
  - (2) **Number and appointment—** The [Board](/usc/12/1861.md?p=b-3) shall be composed of 5 members as follows:
    - (A) The [Secretary](/usc/12/1715z–22a.md?p=4) of the Treasury or a designee of the [Secretary](/usc/12/1715z–22a.md?p=4).
    - (B) The [Secretary](/usc/12/1715z–22a.md?p=4) of Housing and Urban Development or a designee of the [Secretary](/usc/12/1715z–22a.md?p=4).
    - (C) The Chairperson of the Federal [Deposit](/usc/12/1813.md?p=l) Insurance Corporation or a designee of the Chairperson.
    - (D) 2 individuals appointed by the President from among individuals who represent community organizations.
  - (3) **Terms—**
    - (A) **Appointed members—** Each appointed member shall be appointed for a term of 5 years.
    - (B) **Interim appointment—** Any member appointed to fill a vacancy occurring before the expiration of the term to which such member’s predecessor was appointed shall be appointed only for the remainder of such term.
    - (C) **Continuation of service—** Each appointed member may continue to serve after the expiration of the period to which such member was appointed until a successor has been appointed.
  - (4) **Chairperson—** The [Secretary](/usc/12/1715z–22a.md?p=4) of the Treasury shall serve as the Chairperson of the [Board](/usc/12/1861.md?p=b-3).
  - (5) **No pay—** No members of the Commission may receive any pay for service on the [Board](/usc/12/1861.md?p=b-3).
  - (6) **Travel expenses—** Each member shall receive travel expenses, [including](/usc/12/1813.md?p=t-1) per diem in lieu of subsistence, in accordance with sections 5702 and 5703 of title 5.
  - (7) **Meetings—** The [Board](/usc/12/1861.md?p=b-3) shall meet at the call of the Chairperson or a majority of the [Board](/usc/12/1861.md?p=b-3)’s members.
- (e) **Duties of Board—**
  - (1) **Procedure for determining community enterprise assessment credits—** The [Board](/usc/12/1861.md?p=b-3) shall establish procedures for accepting and considering applications by [insured depository institutions](/usc/12/1813.md?p=c-2) under [subsection (a)(1)](#a-1) for community enterprise assessment [credits](/usc/12/5481.md?p=7) and making determinations with respect to such applications.
  - (2) **Notice to FDIC—** The [Board](/usc/12/1861.md?p=b-3) shall notify the applicant and the Federal [Deposit](/usc/12/1813.md?p=l) Insurance Corporation of any determination of the [Board](/usc/12/1861.md?p=b-3) with respect to any application referred to in [paragraph (1)](#e-1) in sufficient time for the Corporation to include the amount of such [credit](/usc/12/5481.md?p=7) in the computation of the semiannual assessment to which such [credit](/usc/12/5481.md?p=7) is applicable.
- (f) **Availability of funds—** The provisions of this section shall not take effect until appropriations are specifically provided in advance. There are hereby authorized to be appropriated such sums as may be necessary to carry out the provisions of this section.
- (g) **Prohibition on double funding for same activities—** No community development financial institution may receive a community enterprise assessment [credit](/usc/12/5481.md?p=7) if such institution, either directly or through a community partnership—
  - (1) has received assistance within the preceding 12-month period, or has an application for assistance pending, under [section 4704 of this title](/usc/12/4704.md); or
  - (2) has ever received assistance, under [section 4707 of this title](/usc/12/4707.md), for the same activity during the same semiannual period for which the institution seeks a community enterprise assessment [credit](/usc/12/5481.md?p=7) under this section.
- (h) **Priority of awards—**
  - (1) **Qualifying loans and services—**
    - (A) **In general—** If the amount of funds appropriated for purposes of carrying out this section for any fiscal year are insufficient to award the amount of assessment [credits](/usc/12/5481.md?p=7) for which [insured depository institutions](/usc/12/1813.md?p=c-2) have applied and are eligible under this section, the [Board](/usc/12/1861.md?p=b-3) shall, in awarding community enterprise assessment [credits](/usc/12/5481.md?p=7) for qualifying activities under subparagraphs [(A)](#a-2-A) and [(B)](#a-2-B) of subsection (a)(2) for any semiannual period for which such appropriation is available, determine which institutions shall receive an award.
    - (B) **Priority for support of efforts of CDFI—** The [Board](/usc/12/1861.md?p=b-3) shall give priority to institutions that have supported the efforts of community development financial institutions in the qualified distressed community.
    - (C) **Other factors—** The [Board](/usc/12/1861.md?p=b-3) may also consider the following factors:
      - (i) **Degree of difficulty—** The degree of difficulty in carrying out the activities that form the basis for the institution’s application.
      - (ii) **Community impact—** The extent to which the activities that form the basis for the institution’s application have benefited the qualified distressed community.
      - (iii) **Innovation—** The degree to which the activities that form the basis for the institution’s application have incorporated innovative methods for meeting community needs.
      - (iv) **Leverage—** The leverage ratio between the dollar amount of the activities that form the basis for the institution’s application and the amount of the assessment [credit](/usc/12/5481.md?p=7) calculated in accordance with this section for such activities.
      - (v) **Size—** The amount of total assets of the institution.
      - (vi) **New entry—** Whether the institution had provided financial services in the designated distressed community before such semiannual period.
      - (vii) **Need for subsidy—** The degree to which the qualified activity which forms the basis for the application needs enhancement through an assessment [credit](/usc/12/5481.md?p=7).
      - (viii) **Extent of distress in community—** The degree of poverty and unemployment in the designated distressed community, the proportion of the total population of the community which are low-income families and unrelated individuals, and the extent of other adverse economic conditions in such community.
  - (2) **Qualifying investments—** If the amount of funds appropriated for purposes of carrying out this section for any fiscal year are insufficient to award the amount of assessment [credits](/usc/12/5481.md?p=7) for which [insured depository institutions](/usc/12/1813.md?p=c-2) have applied and are eligible under this section, the [Board](/usc/12/1861.md?p=b-3) shall, in awarding community enterprise assessment [credits](/usc/12/5481.md?p=7) for qualifying activities under [subsection (a)(2)(C)](#a-2-C) for any semiannual period for which such appropriation is available, determine which institutions shall receive an award based on the leverage ratio between the dollar amount of the activities that form the basis for the institution’s application and the amount of the assessment [credit](/usc/12/5481.md?p=7) calculated in accordance with this section for such activities.
- (i) **Determination of amount of assessment credit—** Notwithstanding any other provision of this section, the determination of the amount of any community enterprise assessment [credit](/usc/12/5481.md?p=7) under [subsection (a)(3)](#a-3) for any [insured depository institution](/usc/12/1813.md?p=c-2) for any semiannual period shall be made solely at the discretion of the [Board](/usc/12/1861.md?p=b-3). No [insured depository institution](/usc/12/1813.md?p=c-2) shall be awarded community enterprise assessment [credits](/usc/12/5481.md?p=7) for any semiannual period in excess of an amount determined by the [Board](/usc/12/1861.md?p=b-3).
- (j) **Definitions—** For purposes of this section—
  - (1) **Appropriate Federal banking agency—** The term “[appropriate Federal banking agency](/usc/12/1813.md?p=q)” has the meaning given to such term in [section 1813(q) of this title](/usc/12/1813.md?p=q).
  - (2) **Board—** The term “[Board](/usc/12/1861.md?p=b-3)” means the Community Enterprise Assessment [Credit](/usc/12/5481.md?p=7) [Board](/usc/12/1861.md?p=b-3) established under the amendment made[^2] by [subsection (d)](#d).
  - (3) **Insured depository institution—** The term “[insured depository institution](/usc/12/1813.md?p=c-2)” has the meaning given to such term in [section 1813(c)(2) of this title](/usc/12/1813.md?p=c-2).
  - (4) **Community development financial institution—** The term “community development financial institution” has the same meaning as in [section 4702(5) of this title](/usc/12/4702.md?p=5).
  - (5) **Affiliate—** The term “[affiliate](/usc/12/1813.md?p=w-6)” has the same meaning as in [section 1841 of this title](/usc/12/1841.md).

## Footnotes

[^1]: So in original.
[^2]: So in original. The words “under the amendment made” probably should not appear.

## Source credit

(Pub. L. 102–242, title II, § 233, Dec. 19, 1991, 105 Stat. 2311; Pub. L. 102–550, title IX, § 931(c)–(e), title XVI, §§ 1604(b)(2), 1605(a)(7), Oct. 28, 1992, 106 Stat. 3888, 3889, 4083, 4086; Pub. L. 102–558, title III, §§ 303(b)(2), (9), 305, Oct. 28, 1992, 106 Stat. 4224, 4226; Pub. L. 103–325, title I, § 114(c), Sept. 23, 1994, 108 Stat. 2181.)

## Notes

### Editorial Notes

### References in Text

The Neighborhood Reinvestment Corporation Act, referred to in subsec. (a)(4)(C), is title VI of Pub. L. 95–557, Oct. 31, 1978, 92 Stat. 2115, which is classified to subchapter I (§ 8101 et seq.) of chapter 90 of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see section 601 of Pub. L. 95–557, set out as a Short Title note under section 8101 of Title 42 and Tables.

The Housing and Community Development Act of 1974, referred to in subsec. (a)(4)(D), is Pub. L. 93–383, Aug. 22, 1974, 88 Stat. 633. Title I of the Act is classified principally to chapter 69 (§ 5301 et seq.) of Title 42. For complete classification of this Act to the Code, see Short Title note set out under section 5301 of Title 42 and Tables.

The Cranston-Gonzalez National Affordable Housing Act, referred to in subsec. (a)(4)(E), (F), is Pub. L. 101–625, Nov. 28, 1990, 104 Stat. 4079. Title II of the Act, also known as the “HOME Investment Partnerships Act”, is classified principally to subchapter II (§ 12721 et seq.) of chapter 130 of Title 42. Subtitles B and C of title IV of the Act are classified respectively to parts A (§ 12871 et seq.) and B (§ 12891 et seq.) of subchapter IV of chapter 130 of Title 42. For complete classification of this Act to the Code, see Short Title note set out under section 12701 of Title 42 and Tables.

The United States Housing Act of 1937, referred to in subsec. (a)(4)(F), is act Sept. 1, 1937, ch. 896, as revised generally by Pub. L. 93–383, title II, § 201(a), Aug. 22, 1974, 88 Stat. 653. Title III of the Act is classified generally to subchapter II–A (§ 1437aaa et seq.) of Title 42. For complete classification of this Act to the Code, see Short Title note set out under section 1437 of Title 42 and Tables.

This subtitle, referred to in subsec. (b)(4)(C), is subtitle C (§§ 231–234) of title II of Pub. L. 102–242, Dec. 19, 1991, 105 Stat. 2308, known as the Bank Enterprise Act of 1991, which enacted this section and sections 1834 and 1834b of this title, amended section 1817 of this title, and enacted provisions set out as a note under section 1811 of this title. For complete classification of subtitle C to the Code, see section 231 of Pub. L. 102–242, set out as a Short Title of 1991 Amendment note under section 1811 of this title and Tables.

### Codification

Section was enacted as part of the Bank Enterprise Act of 1991, and also as part of the Foreign Bank Supervision Enhancement Act of 1991 and as part of the Federal Deposit Insurance Corporation Improvement Act of 1991, and not as part of the Federal Deposit Insurance Act which comprises this chapter.

Section is comprised of section 233 of Pub. L. 102–242. Subsec. (c) of section 233 of Pub. L. 102–242 amended section 1817 of this title.

### Amendments

1994—Subsec. (a)(2). Pub. L. 103–325, § 114(c)(1)(A), substituted “may apply for” for “shall be eligible” in introductory provisions.

Subsec. (a)(2)(A). Pub. L. 103–325, § 114(c)(1)(B), substituted “assistance” for “financial assistance”.

Subsec. (a)(2)(C). Pub. L. 103–325, § 114(c)(1)(C) to (E), added subpar. (C).

Subsec. (a)(4). Pub. L. 103–325, § 114(c)(2)(A), struck out “financial” before “assistance” in introductory provisions.

Subsec. (a)(4)(L) to (O). Pub. L. 103–325, § 114(c)(2)(B), added subpars. (L) to (O).

Subsec. (a)(5). Pub. L. 103–325, § 114(c)(3), substituted “paragraph (3)(A)” for “paragraph (3)”.

Subsec. (a)(6). Pub. L. 103–325, § 114(c)(4), substituted “Loans, financial assistance, and equity investments made by any insured depository institution” for “Investments by any insured depository institution in loans and securities”.

Subsec. (a)(7). Pub. L. 103–325, § 114(c)(5), added par. (7).

Subsec. (g). Pub. L. 103–325, § 114(c)(6), added subsec. (g) and redesignated former subsec. (g) as (j).

Subsecs. (h), (i). Pub. L. 103–325, § 114(c)(7), added subsecs. (h) and (i).

Subsec. (j). Pub. L. 103–325, § 114(c)(6)(A), redesignated subsec. (g) as (j).

Subsec. (j)(4), (5). Pub. L. 103–325, § 114(a)(8), added pars. (4) and (5).

1992—Subsec. (a)(1)(A). Pub. L. 102–558, § 303(b)(9)(A), substituted “section 1817(b)(7)” for “section 1817(d)(4)”. Pub. L. 102–550, § 1605(a)(7)(A), which contained an identical amendment, was repealed, effective Oct. 28, 1992, by Pub. L. 102–558, § 305, set out as a Repeal of Duplicative Provisions note under section 1815 of this title.

Subsec. (a)(2). Pub. L. 102–550, § 931(c), amended par. (2) generally. Prior to amendment, par. (2) read as follows: “An insured depository institution shall be eligible for any community enterprise assessment credit for any semiannual period for—

“(A) any increase during such period in the amount of new originations of qualified loans and other financial assistance provided for low- and moderate-income persons in distressed communities, or enterprises integrally involved with such neighborhoods, which the Board determines are qualified to be taken into account for purposes of this subsection; and

“(B) any increase during such period in the amount of deposits accepted from persons domiciled in the distressed community, at any office of the institution (including any branch) located in any qualified distressed community, and any increase during such period in the amount of new originations of loans and other financial assistance made within that community, except that in no case shall the credit for increased deposits at any institution or branch exceed the credit for increased loan and other financial assistance by the bank or branch in the distressed community.”

Subsec. (a)(3). Pub. L. 102–558, § 303(b)(9)(B), substituted “section 1817(b)(7)” for “section 1817(d)(4)”. Pub. L. 102–550, § 1605(a)(7)(B), which contained an identical amendment, was repealed, effective Oct. 28, 1992, by Pub. L. 102–558, § 305, set out as a Repeal of Duplicative Provisions note under section 1815 of this title.

Pub. L. 102–558, § 303(b)(2), which directed technical amendment to reference to section 1834b of this title to correct reference to corresponding section of original act, could not be executed because of prior general amendment by Pub. L. 102–550, § 931(d). See below. Pub. L. 102–550, § 1604(b)(2), which contained an identical amendment, was repealed, effective Oct. 28, 1992, by Pub. L. 102–558, § 305, set out as a Repeal of Duplicative Provisions note under section 1815 of this title.

Pub. L. 102–550, § 931(d), amended par. (3) generally. Prior to amendment, par. (3) read as follows: “The amount of any community enterprise assessment credit available under section 1817(d)(4) of this title for any insured depository institution, or a qualified portion thereof, for any semiannual period shall be the amount which is equal to 5 percent, in the case of an institution which does not meet the community development organization requirements under section 1834b of this title, and 15 percent, in the case of an institution, or a qualified portion thereof, which meets such requirements (or any percentage designated under paragraph (5)) of the sum of—

“(A) the amounts of assets described in paragraph (2)(A); and

“(B) the amounts of deposits, loans, and other extensions of credit described in paragraph (2)(B).”

Subsec. (a)(5). Pub. L. 102–558, § 303(b)(2), made technical amendment to reference to section 1834b of this title to correct reference to corresponding section of original act. Pub. L. 102–550, § 1604(b)(2), which made identical amendment, was repealed, effective Oct. 28, 1992, by Pub. L. 102–558, § 305, set out as a Repeal of Duplicative Provisions note under section 1815 of this title.

Subsec. (b)(4). Pub. L. 102–550, § 931(e), amended par. (4) generally. Prior to amendment, par. (4) read as follows: “For purposes of this subsection, an area meets the requirements of this paragraph if at least 2 of the following criteria are met:

“(A) Income.—At least 70 percent of the families and unrelated individuals residing in the area have incomes of less than 80 percent of the median income of the area.

“(B) Poverty.—At least 20 percent of the residents residing in the area have incomes which are less than the national poverty level (as determined pursuant to criteria established by the Director of the Office of Management and Budget).

“(C) Unemployment.—The unemployment rate for the area is one and one-half times greater than the national average (as determined by the Bureau of Labor Statistic’s most recent figures).”

Subsec. (e)(2). Pub. L. 102–558, § 303(b)(9)(C), substituted “of the semiannual assessment to which such credit is applicable” for “made for purposes of the notification required under section 1817(d)(1)(B) of this title”. Pub. L. 102–550, § 1605(a)(7)(C), which contained an identical amendment, was repealed, effective Oct. 28, 1992, by Pub. L. 102–558, § 305, set out as a Repeal of Duplicative Provisions note under section 1815 of this title.

### Statutory Notes and Related Subsidiaries

### Effective Date of 1992 Amendment

Amendment by section 303(b)(2) of Pub. L. 102–558 deemed to have become effective Mar. 1, 1992, see section 304 of Pub. L. 102–558, set out as a note under section 4502 of Title 50, War and National Defense.

Pub. L. 102–558, title III, § 303(b)(9), Oct. 28, 1992, 106 Stat. 4226, provided that the amendment made by that section is effective on the effective date of the amendment made by section 302(e)(4) of Pub. L. 102–242 [see section 302(g) of Pub. L. 102–242, set out as a note under section 1817 of this title].

Pub. L. 102–550, title XVI, § 1605(a)(7), Oct. 28, 1992, 106 Stat. 4086, which provided effective date provisions for the amendment made by that section, was repealed, effective Oct. 28, 1992, by section 305 of Pub. L. 102–558, set out as a Repeal of Duplicative Provisions note under section 1815 of this title.