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Billno should always have and extension i.e. h1.ih

Round II EZ/EC Flexibility Act of 2003 (Introduced in Senate)

S 586 IS

108th CONGRESS

1st Session

S. 586

To provide additional funding for the second round of empowerment zones and enterprise communities.

IN THE SENATE OF THE UNITED STATES

March 11, 2003

Mr. CORZINE introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To provide additional funding for the second round of empowerment zones and enterprise communities.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `Round II EZ/EC Flexibility Act of 2003'.

SEC. 2. CORRECTION OF INEQUITIES IN THE SECOND ROUND OF EMPOWERMENT ZONES AND ENTERPRISE COMMUNITIES.

(a) GRANT AUTHORITY- There are authorized to be appropriated--

(1) to the Secretary of Housing and Urban Development, such sums as may be necessary to make grant awards totaling $100,000,000 to each of 15 urban empowerment zones designated pursuant to section 1391(g) of the Internal Revenue Code of 1986, taking into account any amount made available pursuant to any prior appropriation made for such zones; and

(2) to the Secretary of Agriculture, such sums as may be necessary to make--

(A) grant awards totaling $40,000,000 to each of 5 rural empowerment zones designated pursuant to section 1391(g) of the Internal Revenue Code of 1986, taking into account any amount made available pursuant to any prior appropriation made for such zones; and

(B) grant awards totaling $3,000,000 to each of 20 rural enterprise communities designated pursuant to section 766 of the Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 1999, taking into account any amount made available pursuant to any prior appropriation made for such communities.

(b) AUTHORITY TO USE FUNDS TO IMPLEMENT STRATEGIC PLAN- Funds appropriated under Federal law for an empowerment zone or an enterprise community referred to in subsection (a) may be used to implement the strategic plan for the zone or community, including--

(1) economic development;

(2) infrastructure development;

(3) workforce development; and

(4) community development activities.

(c) NO LOSS OF FEDERAL FUNDS BY REASON OF RECLASSIFICATION AS RENEWAL COMMUNITY- An area that, by reason of section 1400E(e) of the Internal Revenue Code of 1986, ceases to be designated as an empowerment zone or enterprise community under section 1391(g) of such Code shall not lose any Federal funds by reason of the cessation.

(d) AUTHORITY TO USE FUNDS TO PAY NON-FEDERAL SHARE OF MATCHING GRANTS- Funds appropriated under any Federal law for an empowerment zone or an enterprise community referred to in subsection (a) may be used to pay the non-Federal share required in connection with another Federal grant-in-aid program undertaken as part of activities assisted under this section.

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