34 U.S.C. § 12186 — Program priority for special emphasis programs
submitted 32 years ago by Pub. L. 103-322 to r/title-34-CRIME-CONTROL-AND-LAW-ENFORCEMENT · 105 words · no verdicts yet
The Secretary gives extra priority to groups helping women, veterans, refugees, and other specific groups in distressed areas. Small loans to tiny businesses also get priority. At least five percent of program funds are set aside for this.
This section has two lettered parts, (a) and (b).
(a) In general. The Secretary gives priority for lines of credit to community development corporations that plan to work in distressed communities and focus on specific groups: women, Native Americans, at-risk youth, farmworkers, communities losing population, very low-income communities, single mothers, veterans, and refugees. Priority also goes to corporations that help employees own more of private businesses, and to programs making loans of $35,000 or less to very small businesses.
(b) Reservation of funds. At least 5 percent of the money made available under section 31112(a)(2)(A) may be set aside just for the activities described in subsection (a).
The Secretary shall give priority in providing lines of credit under this subpart to community development corporations that propose to undertake economic development activities in distressed communities that target women, Native Americans, at risk youth, farmworkers, population-losing communities, very low-income communities, single mothers, veterans, and refugees; or that expand employee ownership of private enterprises and small businesses, and to programs providing loans of not more than $35,000 to very small business enterprises.
Not less than 5 percent of the amounts made available under section 31112(a)(2)(A) 1 may be reserved to carry out the activities described in subsection (a).
Source credit: (Pub. L. 103–322, title III, § 31116, Sept. 13, 1994, 108 Stat. 1885.)
- 1994Enacted · Pub. L. 103-322 · 108 Stat. 1885
A history note hasn’t been published yet. The record shows enactment by Pub. L. 103-322 on 1994-09-13.
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