WHAT THE LAW DOINCongress, in plain words

The law › Title 12, Banks and Banking › Chapter 16

12 U.S.C. 1834a: Assessment credits for qualifying activities relating to distressed communities

Created in 1991 by Public Law 102-242. Changed by 3 later laws. No bill we track in this Congress changes it.

4 other sections of the Code cite this one, including 12 U.S.C. 1817, 12 U.S.C. 1834b, 12 U.S.C. 4713, 42 U.S.C. 5318a.

1 part of federal rules cite it as their authority, written by Community Development Financial Institutions Fund, Department of the Treasury (1).

This Congress

No bill we track in the 119th Congress changes this section.

    How it got here

    1994

    • Pub. L. 103–325, §114(c)(1)(A), substituted "may apply for" for "shall be eligible" in introductory provisions. · (a)
    • Pub. L. 103–325, §114(c)(1)(B), substituted "assistance" for "financial assistance". · (a)
    • Pub. L. 103–325, §114(c)(1)(C) to (E), added subpar. (C). · (a)
    • Pub. L. 103–325, §114(c)(2)(A), struck out "financial" before "assistance" in introductory provisions. · (a)
    • Pub. L. 103–325, §114(c)(2)(B), added subpars. (L) to (O). · (a)
    • Pub. L. 103–325, §114(c)(3), substituted "paragraph (3)(A)" for "paragraph (3)". · (a)
    • Pub. L. 103–325, §114(c)(4), substituted "Loans, financial assistance, and equity investments made by any insured depository institution" for "Investments by any insured depository institution in loans and securities". · (a)
    • Pub. L. 103–325, §114(c)(5), added par. (7). · (a)
    • Pub. L. 103–325, §114(c)(6), added subsec. (g) and redesignated former subsec. (g) as (j). · (g)
    • Pub. L. 103–325, §114(c)(7), added subsecs. (h) and (i). · (h), (i)
    • Pub. L. 103–325, §114(c)(6)(A), redesignated subsec. (g) as (j). · (j)
    • Pub. L. 103–325, §114(a)(8), added pars. (4) and (5). · (j), (5)

    1992

    • Pub. L. 102–558, §303(b)(9)(A), substituted "section 1817(b)(7)" for "section 1817(d)(4)". Pub. L. 102–550, §1605(a)(7)(A), which contained an identical amendment, was repealed, effective Oct. 28, 1992, by Pub. L. 102–558, §305, set out as a Repeal of Duplicative Provisions note … · (a)
    • Pub. L. 102–550, §931(c), amended par. (2) generally. Prior to amendment, par. (2) read as follows: "An insured depository institution shall be eligible for any community enterprise assessment credit for any semiannual period for— · (a)
    • Pub. L. 102–558, §303(b)(9)(B), substituted "section 1817(b)(7)" for "section 1817(d)(4)". Pub. L. 102–550, §1605(a)(7)(B), which contained an identical amendment, was repealed, effective Oct. 28, 1992, by Pub. L. 102–558, §305, set out as a Repeal of Duplicative Provisions note und… · (a)
    • Pub. L. 102–558, §303(b)(2), which directed technical amendment to reference to section 1834b of this title to correct reference to corresponding section of original act, could not be executed because of prior general amendment by Pub. L. 102–550, §931(d). See below. Pub. L. 102–550, §1604(b)(2), w… · (a)
    • Pub. L. 102–550, §931(d), amended par. (3) generally. Prior to amendment, par. (3) read as follows: "The amount of any community enterprise assessment credit available under section 1817(d)(4) of this title for any insured depository institution, or a qualified portion thereof, for any semiannual p… · (a)
    • Pub. L. 102–558, §303(b)(2), made technical amendment to reference to section 1834b of this title to correct reference to corresponding section of original act. Pub. L. 102–550, §1604(b)(2), which made identical amendment, was repealed, effective Oct. 28, 1992, by Pub. L. 102–558, §… · (a)
    • Pub. L. 102–550, §931(e), amended par. (4) generally. Prior to amendment, par. (4) read as follows: "For purposes of this subsection, an area meets the requirements of this paragraph if at least 2 of the following criteria are met: · (b)
    • Pub. L. 102–558, §303(b)(9)(C), substituted "of the semiannual assessment to which such credit is applicable" for "made for purposes of the notification required under section 1817(d)(1)(B) of this title". Pub. L. 102–550, §1605(a)(7)(C), which contained an identical amendment, was … · (e)

    Text, outline and history from the official U.S. Code (2024 edition) on GovInfo, published by the Office of the Law Revision Counsel. Changes made after that edition appear under This Congress.