Page:United States Statutes at Large Volume 106 Part 5.djvu/225

 PUBLIC LAW 102-550—OCT. 28, 1992 106 STAT. 3863 with interest to be repaid to the nonprofit organization and the nonprofit organization must use the proceeds of the loan tor activities consistent with this section. (B) ELIGIBLE ACnvmES. — Capital assistance may only be used to support the following activities that faolitate revitalization oi tiurgeted geographic areas or that provide economic opportunities for low-income persons— (i) increasing the capital available for the purpose of making loans; (ii) providing funds for equity investments in projects; (iii) providing a portion of loan loss reserves of regulatedfinancialinstitutions; and (iv) providing credit enhancement. (C) CAPITAL REQUIREMENTS.— Any investment derived from assistance provided by the Secretary and made by an eligible organization to a regulated financial institution shall not be included as an asset in calculating compliance with applicable capital standards. Such standards shall be satisfied from sources other than assistance provided under this section. (D) AUTHORIZATION. — There are authorized to be appropriated to carry out this paragraph $25,000,000 for fiscal year 1993 and $26,000,000 for fiscal year 1994 to be used to provide capital assistance to eligible organizations. Funds appropriated pursuant to this subparagraph shall remain available untu expended. (8) DEVELOPMENT SERVICES AND TECHNICAL ASSISTANCE GRANTS. — (A) IN GENERAL.— The Secretary shall— (i) provide grants or loans to eligible organizations for the provision of development services that support and contribute to the success of the mission of such organizations; and (ii) provide, or contract to provide, technical assistance to eligible organizations to assist in establishing program activities that are consistent with the purposes of this section. (B) AUTHORIZATION.— There are authorized to be appropriated to carry out this paragraph, $15,000,000 for fiscal year 1993 and $15,600,000 for fiscal year 1994. Funds appropriated pursuant to this subparagraph shall remain availaole until expended. (9) TRAINING PROGRAM. — (A) IN GENERAL. — The Secretai^ shall establish, or contract to establish, an ongoing training program to assist eligible organizations and their staffs m developing the capacity to carry out the purposes of this section. (B) AUTHORIZATION. — There are authorized to be appropriated to cany out this paragraph $2,000,000 for fiscal year 1993 and $2,100,000 for fiscal year 1994. Funds appropriated pursuant to tiiis subparagraph shall remain available until expended. (10) REPORTS. —The Secretary shall determine the appropriate reporting requirements with which eligible organizations receiving assistance under this section must comply. (11) ADVISORY BOARD. — Appropriation authorization. Appropriation authorization. Establishment. Appropriation authorization. 59-194 O—93 8:QL3(Pt.5)

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