Bank Enterprise Award definition
Examples of Bank Enterprise Award in a sentence
Financial assistance provided by an Applicant for which the Applicant receives benefits through Low-Income Housing Tax Credits, authorized pursuant to Section 42 of the Internal Revenue Code, as amended (26 U.S.C. 42), shall not constitute an Equity Investment, Project Investment, or other Qualified Activity, for the purposes of calculating or receiving a Bank Enterprise Award.
The BEA Program was authorized by the Bank Enterprise Award Act of 1991, as amended.
Financial assistance provided by an Applicant for which the Applicant receives benefits as an investor in a Community Development Entity that has received an allocation of New Markets Tax Credits, authorized pursuant to Section 45D of the Internal Revenue Code, as amended (26 U.S.C. 45D), shall not constitute an Equity Investment, Project Investment, or other Qualified Activity, for the purposes of calculating or receiving a Bank Enterprise Award.
In the event that an Awardee or its Subsidiary or Affiliate is not in compliance, as determined by the Fund, with the terms and conditions of any other award under the Bank Enter- prise Award Program or any compo- nent of the Community Development Financial Institutions Program, the Fund may, in its sole discretion, reject an application for or withhold disburse- ment (either initial or subsequent) on a Bank Enterprise Award.
Treasury’s Bank Enterprise Award Program: Impact on Investments in Distressed Communities Is Difficult to Determine, but Likely Not Significant, GAO-06-824, July 2006, p.
An Applicant may receive a Bank Enterprise Award for engaging in any of the following categories of Qualified Activities during an Assess- ment Period: CDFI Related Activities, Distressed Community Financing Ac- tivities, or Service Activities.
For example, if an Applicant is seeking a Bank Enterprise Award for Distressed Community Financing Ac- tivities only, it should report only its activities for the Distressed Commu- nity Financing Activities category.
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An Applicant should report only its Quali- fied Activities for the category in which it is seeking a Bank Enterprise Award.
If the development score is negative, an Applicant will be ineligible to receive a Bank Enterprise Award.