qualified distressed community
Defined in 2 places of the United States Code.
For purposes of this section, the term “qualified distressed community” means any neighborhood or community which—
(A) meets the minimum area requirements under paragraph (3) and the eligibility requirements of paragraph (4); and
(B) is designated as a distressed community by any insured depository institution in accordance with paragraph (2) and such designation is not disapproved under such paragraph.
Source
- 1994–present12 U.S.C. § 1834ABanks and Banking · Assessment credits for qualifying activities relating to distressed communities · for purposes of this section
The term “qualified distressed community” has the meaning given to such term in section 1834a(b) of this title.
Source
- 1994–present12 U.S.C. § 1834BBanks and Banking · Community development organizations · for purposes of this section