PUBLIC LAW 102-550—OCT. 28, 1992

106 STAT. 3863

with interest to be repaid to the nonprofit organization
and the nonprofit organization must vise the proceeds
of the loan for activities consistent with this section.

(B) ELIGIBLE ACTIVITIES.—Capital assistance may only
be used to support the following activities that facilitate
revitalization ol targeted geographic areas or that provide
economic opportunities for low-income persons—

(i) increasing the capital available for the purpose
of making loans;

(ii) providing funds for equity investments in
projects;

(iii) providing a portion of loan loss reserves of
regulated financial institutions; and

(iv) providing credit enhancement.

(C) CAPITAL REQUIREMENTS.—Any investment derived
from assistance provided by the Secretary and made by
an eligible organization to a regulated financial institution
shall not be included as an asset in calculating compliance
with applicable capital standards. Such standards shall
be satisfied from sources other than assistance provided
under this section.

(D) AUTHORIZATION.—-There are authorized to be appro-
priated to carry out this paragraph $25,000,000 for fiscal
year 1993 and $26,000,000 for fiscal year 1994 to be used
to provide capital assistance to eligible organizations.
Funds appropriated pursuant to this subparagraph shall
remain available until expended.

(8) DEVELOPMENT SERVICES AND TECHNICAL ASSISTANCE
GRANTS.—

(A) IN GENERAL.—The Secretary shall—

(i) provide grants or loans to eligible organizations
for the provision of development services that support
and contribute to the success of the mission of such
organizations: and

(ii) provide, or contract to provide, technical assist-
ance to eligible organizations to assist hi establishing
program activities that are consistent with the pur-
poses of this section.

(B) AUTHORIZATION.—There are authorized to be appro-
priated to carry out this paragraph, $15,000,000 for fiscal
year 1993 and $15,600,000 for fiscal year 1994. Funds
appropriated pursuant to this subparagraph shall remain
available until expended.

(9) TRAINING PROGRAM.—

(A) IN GENERAL.—The Secretary shall establish, or con-
tract to establish, an ongoing training program to assist
eligible organizations and their staffs in developing the
capacity to carry out the purposes of this section.

(B) AUTHORIZATION.—There are authorized to be appro-
priated to carry out this paragraph $2,000,000 for fiscal
year 1993 and $2,100,000 for fiscal year 1994. Funds appro-
priated pursuant to this subparagraph shall remain avail-
able until expended.

(10) REPORTS.—The Secretary shall determine the appro-
priate reporting requirements with which eligible organizations
receiving assistance under this section must comply.

(11) ADVISORY BOARD.—

Appropriation
authorization.

Appropriation
authorization.

Establishment.

Appropriation
authorization.

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