[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 586 Introduced in Senate (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.
                                 <all>