Page:United States Statutes at Large Volume 108 Part 3.djvu/431

 PUBLIC LAW 103-325—SEPT. 23, 1994 108 STAT. 2183 "(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 for which insured depository institutions have applied and are eligible under this section, the Board shall, in awarding community enterprise assessment credits for qualifying activities under subparagraphs (A) and (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 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 may also consider the following factors: "(i) DEGREE OF DIFFICULTY.—The degree of dif- ficulty 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 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. "(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 for which insured depository institutions have applied and are eligible under this section, the Board shall, in awarding community enterprise assessment credits for qualifying activities under subsection (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

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