Sec. 2. As used in this chapter, "community development corporation" means a private, nonprofit corporation:
(1) whose board of directors consists primarily of community representatives and business, civic, and community leaders; and
(2) whose principal purpose includes the provision of:
(A) housing;
(B) community based economic development projects; or
(C) social services;
that primarily benefit low income individuals and communities.
As added by P.L.15-1997, SEC.1. Amended by P.L.4-1999, SEC.1.