[Congressional Record Volume 148, Number 131 (Tuesday, October 8, 2002)]
[Extensions of Remarks]
[Page E1780]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




             TECHNICAL CORRECTIONS TO COMMUNITY RENEWAL ACT

                                 ______
                                 

                          HON. J.C. WATTS, JR.

                              of oklahoma

                    in the house of representatives

                        Monday, October 7, 2002

  Mr. WATTS of Oklahoma. Mr. Speaker, America's strength rests in its 
communities. It is for this reason that the American Community Renewal 
Act of 2000 was such important legislation. With the President's 
signature this bill became law, and our nation embarked on a course to 
help poverty-stricken communities change their circumstances. By 
creating an environment where private investment can flourish, this Act 
promotes job creation and a revitalization of community through the 
efforts of people who are given a chance and seize it.
  The legislation I introduce today moves us further down the path of 
strengthening our communities. This year the Administration awarded 
Renewal Community and Empowerment Zone designations to 49 new 
communities across the nation, including an Empowerment Zone in 
Oklahoma City, Oklahoma.
  A challenge facing 3 of these new Empowerment Zones, Oklahoma City, 
OK; Pulaski County, AR; Yonkers, NY, is a legacy provision from 
previous Empowerment Zone rounds requiring that any census tracts 
included in an Empowerment Zone that are also contained within a 
defined Central Business District have a minimum poverty threshold of 
35 percent. This bill lowers that requirement to 25 percent. The 
rationale for the change is that Round 3 Empowerment Zones, unlike 
Rounds I and 2, rely completely on a host of incentives, such as tax 
credits, to encourage local businesses to create jobs, and that this 
job growth should not be hindered.
  The bill also modifies the boundaries of the Oklahoma City 
Empowerment Zone to include an abutting, small neighborhood in need of 
revitalization.

                          ____________________