[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[S. 3065 Introduced in Senate (IS)]







107th CONGRESS
  2d Session
                                S. 3065

    To provide exceptions to empowerment zone eligibility criteria.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            October 7, 2002

 Mr. Hutchinson (for himself, Mr. Inhofe, and Mr. Schumer) introduced 
the following bill; which was read twice and referred to the Committee 
                               on Finance

_______________________________________________________________________

                                 A BILL


 
    To provide exceptions to empowerment zone eligibility criteria.

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

SECTION 1. EXCEPTIONS TO EMPOWERMENT ZONE ELIGIBILITY.

    (a) In General.--Notwithstanding section 1392(a)(3)(D) of the 
Internal Revenue Code of 1986 (26 U.S.C. 1392(a)(3)(D)), with respect 
to those empowerment zones listed in subsection (b), each such 
empowerment zone shall not include any portion of a central business 
district (as such term is used for purposes of the most recent Census 
of Retail Trade) unless the poverty rate for each population census 
tract in such district is not less than 25 percent.
    (b) Application.--Subsection (a) shall apply to the empowerment 
zones in Pulaski County, Arkansas, Oklahoma City, Oklahoma, and 
Yonkers, New York, and shall be considered to have taken affect with 
respect to each such empowerment zone at the time that the area was so 
designated by the Secretary of Housing and Urban Development.
                                 <all>