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Code · BILL · 116th Congress · S. 884 (Introduced in Senate) — To authorize a grant program that strengthens the capacity of community development financial institutions through al... · Sec. 4

Sec. 4. Interagency agreement for the Economic Mobility Corps Act of 2018

466 words·~2 min read·/bill/116/s/884/is/section-4

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The Chief Executive Officer shall enter into an interagency agreement under section 121(b)(6) of the National and Community Service Act of 1990 ( 42 U.S.C. 12571(b)(6) ) with the Secretary that is similar to an interagency agreement described in section 121(b)(1) of such Act ( 42 U.S.C. 12571(b)(1) ), regarding the grant program described in section 5, except that funds appropriated under this Act may be used as if appropriated for the purposes for which funds may be provided through grants under section 121(a) of the National and Community Service Act of 1990 ( 42 U.S.C. 12571(a) ).
Except as otherwise provided in this Act, the provisions of the National and Community Service Act of 1990 ( 42 U.S.C. 12501 et seq.), other than paragraphs
(1)through
(5)of section 121(b) of that Act ( 42 U.S.C. 12571(b) ), that apply to a national service program supported under that section 121(b) shall apply to the grant program described in section 5. Section 121(b) of such Act ( 42 U.S.C. 12571(b) ) is amended by adding at the end the following: Notwithstanding paragraph (1), the Corporation shall enter into an interagency agreement similar to an interagency agreement described in paragraph
(1)with the Secretary of the Treasury under this subsection regarding the community development financial institution grant program described in section 5 of the Economic Mobility Corps Act of 2019 . . The Chief Executive Officer shall approve positions for Economic Mobility Corps projects as approved national service positions in accordance with subtitle C of title I of the National and Community Service Act of 1990 ( 42 U.S.C. 12571 et seq.). Nothing in this Act shall be construed to affect the distribution of assistance or approved national service positions under section 129 of the National and Community Service Act of 1990 ( 42 U.S.C. 12581 ). Funds appropriated under section 8 shall be used for the costs associated with that assistance or those positions, for the program carried out under section 5. For purposes of subsection (a)(1) and
(b)of section 145 of the National and Community Service Act of 1990 ( 42 U.S.C. 12601(a)(1) ), a portion of the funds appropriated under this Act, as determined by the Chief Executive Officer based on the number of participants selected for Economic Mobility Corps projects, shall be treated, respectively, as funds appropriated to the Corporation and made available to carry out subtitle D of title I of the National and Community Service Act of 1990 ( 42 U.S.C. 12601 et seq.) and as funds appropriated to the Trust established under such section. For purposes of section 149(c) of the National and Community Service Act of 1990 ( 42 U.S.C. 12606(c) ), funds appropriated under this Act shall be treated as appropriated funds for approved national service positions.
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