PUBLIC LAW 102-550—OCT. 28, 1992 106 STAT. 3847 42 USC 5305 note. (b) ASSISTANCE TO FOR-PROFIT ENTITIES.—Section 105 of the Housing and Community Development Act of 1974 (42 U.S.C. 5305), as amended by subsection (a), is amended by inserting at the end the following new subsection: "(f) ASSISTANCE TO FOR-PROFIT ENTITIES.— In any case in which an activity described in paragraph (17) of subsection (a) is provided assistance such assistance shall not be limited to activities for which no other forms of assistance are available or could not be accomplished but for that assistance.". (c) GAO STUDY. — The Comptroller General of the United States shall conduct a study of the use of grant amounts under title I of the Housing and Community Development Act of 1974 for activities described in paragraphs (14), (15), and (17) of section 105(a) of such Act. The study snail evaluate whether the activities for which such amounts are being used under such paragraphs further the goals and objectives of such program, as established in section 101 of such Act. The Comptroller General shall submit Reports a report to the Congress regarding the findings of the study not later than the expiration of the 18-month period beginning on the date of the enactment of this Act. The report shall include recommendations of— (1) any administrative or legislative actions that may be taken to ensure that such grant amounts are properly and efficiently used for economic development activities; and (2) criteria by which to evaluate the effectiveness of activities assisted under paragraphs (14), (15), and (17) of such section 105(a). (d) ENHANCING JOB QUALITY.— Not later than 1 year after the date of enactment of this Act, the Comptroller General shall submit to the Congress a report on the types and quality of jobs created or retained through assistance provided pursuant to title I of the Housing and Community Development Act of 1974 and the extent to which projects and activities assisted under that title enhance the upward mobility and future earning capacity of low- and moderate-income persons who are benefited by such projects and activities. (e) REBUILDING DISTRESSED NEIGHBORHOODS.— Section 105(c) of the Housing and Community Development Act of 1974 (42 U.S.C. 5305(c)) is amended by adding at the end the following new paragraph: (4) For the purposes of subsection (c)(l)(C)— "(A) if an employee resides in, or the assisted activity through which he or she is employed, is located in a census tract that meets the Federal enterprise zone eligibility criteria, the employee shall be presumed to be a person of low- or moderate-income; or "(B) if an employee resides in a census tract where not less than 70 percent of the residents have incomes at or below 80 percent of the area median, the employee shall be presimied to be a person of low or moderate income.. SEC. 807. ELIGIBLE ACTIYITIES. (a) ADDITIONAL ELIGIBLE ACTIVITIES.— Section 105(a) of the Housing and Community Development Act of 1974 (42 U.S.C. 5305(a)) is amended— (1) in paragraph (8), by inserting before the semicolon at the end the following: ", and except that of any amount Reports. 42 USC 5305 note.
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