low- or moderate-income area
Defined in 1 place of the United States Code.
The term “low- or moderate-income area” means a census tract for which the median family income is—
(i) less than 80 percent of the median family income for the metropolitan statistical area (as designated by the Director of the Office of Management and Budget) in which the census tract is located; or
(ii) in the case of a census tract which is not located in a metropolitan statistical area, less than 80 percent of the median family income for the State in which the census tract is located, as determined without taking into account family income in metropolitan statistical areas in such State.
Source
- 1994–present12 U.S.C. § 1831RBanks and Banking · Notice of branch closure · in this section
The term "low- or moderate-income area" means a census tract for which the median family income is—
(i) less than 80 percent of the median family income for the metropolitan statistical area (as designated by the Director of the Office of Management and Budget) in which the census tract is located; or
(ii) in the case of a census tract which is not located in a metropolitan statistical area, less than 80 percent of the median family income for the State in which the census tract is located, as determined without taking into account family income in metropolitan statistical areas in such State.
This section shall not apply with respect to—
Source
- 1996–201512 U.S.C. § 1831RBanks and Banking · Notice of branch closure · in this section