[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 400 Introduced in Senate (IS)]







108th CONGRESS
  1st Session
                                 S. 400

 To amend the Internal Revenue Code of 1986 to allow for the expansion 
 of areas designated as renewal communities based on 2000 census data.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           February 13, 2003

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

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to allow for the expansion 
 of areas designated as renewal communities based on 2000 census data.

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

SECTION 1. EXPANSION OF DESIGNATED RENEWAL COMMUNITY AREA BASED ON 2000 
              CENSUS DATA.

    (a) In General.--Section 1400E of the Internal Revenue Code of 1986 
(relating to designation of renewal communities) is amended by adding 
at the end the following new subsection:
    ``(g) Expansion of Designated Areas.--
            ``(1) Expansion based on 2000 census.--At the request of 
        the nominating entity with respect to a renewal community, the 
        Secretary of Housing and Urban Development may expand the area 
        of a renewal community to include any census tract--
                    ``(A) which, at the time such community was 
                nominated, met the requirements of this section for 
                inclusion in such community but for the failure of such 
                tract to meet 1 or more of the population and poverty 
                rate requirements of this section using 1990 census 
                data, and
                    ``(B) which meets all failed population and poverty 
                rate requirements of this section using 2000 census 
                data.
            ``(2) Expansion to certain areas which do not meet 
        population requirements.--
                    ``(A) In general.--At the request of 1 or more 
                local governments and the State or States in which an 
                area described in subparagraph (B) is located, the 
                Secretary of Housing and Urban Development may expand a 
                designated area to include such area.
                    ``(B) Area.--An area is described in this 
                subparagraph if--
                            ``(i) the area is adjacent to at least 1 
                        other area designated as a renewal community,
                            ``(ii) the area has a population less than 
                        the population required under subsection 
                        (c)(2)(C), and
                            ``(iii) the area meets the requirements of 
                        subparagraphs (A) and (B) of subsection (c)(2) 
                        and subparagraph (A) of subsection (c)(3).
            ``(3) Applicability.--Any expansion of a renewal community 
        under this section shall take effect as provided in subsection 
        (b).''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
take effect as if included in the amendments made by section 101 of the 
Community Renewal Tax Relief Act of 2000.
                                 <all>