26 U.S. Code § 1392 - Eligibility criteria
The nominated area is one of pervasive poverty, unemployment, and general distress.
A population census tract with a population of less than 2,000 shall be treated as having a poverty rate which meets the requirements of subparagraphs (A) and (B) of subsection (a)(4) if more than 75 percent of such tract is zoned for commercial or industrial use.
A nominated area may not include a noncontiguous parcel unless such parcel separately meets (subject to paragraphs (1) and (2)) the criteria set forth in subsection (a)(4).
A nominated area in Alaska or Hawaii shall be treated as meeting the requirements of paragraphs (2), (3), and (4) of subsection (a) if for each census tract or block group within such area 20 percent or more of the families have income which is 50 percent or less of the statewide median family income (as determined under section 143).
A prior section 1392, added Pub. L. 95–600, title VI, § 601(a), Nov. 6, 1978, 92 Stat. 2893; amended Pub. L. 96–222, title I, § 106(a)(5), Apr. 1, 1980, 94 Stat. 221; Pub. L. 96–595, § 3(a)(3), (4), Dec. 24, 1980, 94 Stat. 3465, related to election by general stock ownership corporations not to be subject to taxes imposed by this chapter, prior to repeal by Pub. L. 99–514, title XIII, § 1303(a), Oct. 22, 1986, 100 Stat. 2658.
1997—Subsec. (d). Pub. L. 105–34 added subsec. (d).
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