Definitions

In this Act: (1) Community development financial institution The term community development financial institution means an institution that has been certified as a community development financial institution (as defined in section 103 of the Community Development Banking and Financial Institutions Act of 1994 (12 U.S.C. 4702)) by the Secretary of the Treasury. (2) Distressed community The term distressed community has the meaning given the term qualified census tract in section 42(d)(5)(B)(ii) of the Internal Revenue Code of 1986. (3) High opportunity area The term high opportunity area has the meaning given the term in section 1282.1 of title 12, Code of Federal Regulations, or any successor regulation. (4) Emerging developer The term emerging developer means a developer that has— (A) limited real estate development experience and limited liquidity or net worth; (B) any other qualifications as determined appropriate by the Secretary. (5) Institution of higher education; part B institution The terms institution of higher education and part B institution have the meanings given those terms in section 101 and 322, respectively, of the Higher Education Act of 1965 (20 U.S.C. 1001, 1061). (6) Secretary The term Secretary means the Secretary of Housing and Urban Development.