§__.12(g)(4)(iii) – 2
Q: How often will the Agencies update the list of designated distressed and underserved nonmetropolitan middle-income geographies?
A2: The Agencies will review and update the list annually. The list is published on the FFIEC Web site (https://www.ffiec.gov).
To the extent that changes to the designated census tracts occur, the Agencies have determined to adopt a one-year “lag period.” This lag period will be in effect for the 12 months immediately following the date when a census tract that was designated as distressed or underserved is removed from the designated list. Revitalization or stabilization activities undertaken during the lag period will receive consideration as community development activities if they would have been considered to have a primary purpose of community development if the census tract in which they were located were still designated as distressed or underserved.
Source: Interagency Questions & Answers Regarding Community Reinvestment | July 2016