---
kind: "section"
citation: "12 U.S.C. § 4142"
title: "12"
title_heading: "Banks and Banking"
number: "4142"
heading: "Purposes"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/4142"
units:
  - "Chapter 42 — Low-Income Housing Preservation and Resident Homeownership"
  - "Subchapter II — Technical Assistance and Capacity Building"
---

# §4142. Purposes


The purposes of this subchapter are—

- (1) to promote the ability of residents of [eligible low-income housing](/usc/12/4119.md?p=1) to meaningfully participate in the preservation process established by this title[^1] and affect decisions about the future of their housing;
- (2) to promote the ability of [community-based nonprofit housing developers](/usc/12/4146.md?p=1) and [resident councils](/usc/12/4119.md?p=11) 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](/usc/12/4119.md?p=10) in discharging the obligation under [section 4110 of this title](/usc/12/4110.md) to notify potential [qualified purchasers](/usc/12/4121.md?p=b) of the availability of properties for sale and to otherwise facilitate the coordination and oversight of the preservation program established under this title.[^1]

## Footnotes

[^1]: See References in Text note below.

## Source credit

(Pub. L. 100–242, title II, § 252, as added Pub. L. 102–550, title III, § 312, Oct. 28, 1992, 106 Stat. 3766.)

## Notes

### Editorial Notes

### 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, § 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.