Page:United States Statutes at Large Volume 108 Part 3.djvu/429

 PUBLIC LAW 103-325—SEPT. 23, 1994 108 STAT. 2181 (4) DESIGNATION OF QDC.—Section 233(b)(2) of the Bank Enterprise Act of 1991 shall be applied for purposes of this section without regard to subparagraph (A)(ii) of such section 233(b)(2). (5) OPERATION ON ANNUAL BASIS.— The Administrator may, in the Administrator's discretion, apply section 233 of the Bank Enterprise Act of 1991 for purposes of this section by providing community enterprise assessment credits with respect to annual periods rather than semiannual periods. (6) OUTREACH.— The Administrator shall ensure that information about the Bank Enterprise Act of 1991 under this section is widely disseminated to all interested parties. (7) QUALIFIED ACTIVITIES. —For the purpose of this subtitle, section 233(a)(2)(A) of the Bank Enterprise Act of 1991 shall be applied by inserting "of the increase" after "the amount". (c) TECHNICAL AND CONFORMING AMENDMENTS TO THE BANK ENTERPRISE ACT OF 1991. — (1) ASSISTANCE TO CDFI MAY BE TAKEN INTO ACCOUNT AS QUALIFYING ACTIVITY. — Section 233(a)(2) of the Bank Enterprise Act of 1991 (12 U.S.C. 1834a(a)(2)) is amended— (A) in the material preceding subparagraph (A), by striking "shall be eligible" and inserting "may apply for"; (B) in subparagraph (A), by striking "financial assistance" and inserting "assistance"; (C) by striking "and" at the end of subparagraph (A); (D) by striking the period at the end of subparagraph (B) and inserting "; and"; and (E) by adding at the end the following new subparagraph: "(C) any increase during the period in the amount of new equity investments in community development financial institutions.". (2) ADDITIONAL ASSISTANCE WHICH MAY BE CONSIDERED AS QUALIFYING ACTIVITIES.—Section 233(a)(4) of the Bank Enterprise Act of 1991 (12 U.S.C. 1834a(a)(4)) is amended— (A) in the material preceding subparagraph (A), by striking "financial"; and (B) by adding at the end the following new subparagraphs: "(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.

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