< Back to S. 3065 (107th Congress, 2001–2002)

Text of A bill to provide exceptions to empowerment zone eligibility criteria.

This bill was introduced on October 7, 2002, in a previous session of Congress, but was not enacted. The text of the bill below is as of Oct 7, 2002 (Introduced).

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Source: GPO

S 3065 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.