BOWL RC Designation Announcements, Early HUD Announcenments and Original Statutes Creating RC's Posted: May 10, 2002
- HUD ANNOUNCES EASTERN KENTUCKY COUNTIES SELECTED AS A RENEWAL COMMUNITY - ELIGIBLE FOR $17 BILLION IN TAX INCENTIVES
HUD No. 02-013EKY Contact: John Milchick, Jr. (502)582-5816 For Release Tuesday January 22, 2002 LOUISVILLE, KY - The Department of Housing and Urban Development today announced that four counties in eastern Kentucky will be designated a "Renewal Community," eligible to share in an estimated $17 billion in tax incentives to stimulate job growth, promote economic development and create affordable housing. The 2000 Community Renewal Tax Relief Act established the Renewal Community Initiative that will encourage public-private collaboration to generate economic development in 40 distressed communities around the nation. - President Clinton's New Markets Initiative: Revitalizing America's Underserved Communities December 14, 2000
Today, President Clinton is pleased to announce the passage of the historic new bipartisan New Markets and Community Renewal initiative. INCREASE IN THE PRIVATE ACTIVITY BOND CAP: The legislation increases the state private activity bond cap from $50 per resident to $75 per resident, phased in from 2001 to 2002. Private activity bonds allow states and municipalities to encourage economic growth in communities through the issuing of lower cost tax exempt bonds. - HUD Notice Inviting Applications: Designation of Forty Renewal Communities
FOR FURTHER INFORMATION: For technical questions, contact John Haines, Renewal Community Initiative, Office of Community Planning and Development, Department of Housing and Urban Development, 451 Seventh Street, SW, Room 7130, Washington, DC 20410, (202) 708-6339. Hearing- or speech-impaired individuals may call (800) 877-8339 (the Federal Information Relay Service-TTY). HUD prefers to receive technical questions by email to john_haines@hud.gov or by facsimile (FAX) to (202) 401-7615 or (202) 708-3363, since email or FAX enables the questions and answers to be communicated as rapidly as possible in writing. - US CODE COLLECTION Notes on Sec. 1400E. Pub. L. 106-554, Sec. 1(a)(7) (title I, Sec. 101(c)), Dec. 21, 2000, 114 Stat. 2763, 2763A-599, provided that: ''Not later than January 31 of 2004, 2007, and 2010, the Comptroller General of the United States shall, pursuant to an audit of the renewal community program... report to Congress on such program and its effect on poverty, unemployment, and economic growth within the designated renewal communities, empowerment zones, and enterprise communities.'
ADVISORY COUNCIL ON COMMUNITY RENEWAL 'There is established an advisory council to be known as the 'Advisory Council on Community Renewal' (in this part referred to as the 'Advisory Council'). ''SEC. 153. DUTIES OF ADVISORY COUNCIL. - H.R.815 Title: To amend the Internal Revenue Code of 1986 to provide for the designation of renewal communities, to provide tax incentives relating to such communities, and for other purposes. Sponsor: Rep Watts, J. C., Jr.(introduced 2/24/1999) Related Bills: S.463 Latest Major Action: 3/18/1999 Referred to House subcommittee
- S.463 Title: To amend the Internal Revenue Code of 1986 to provide for the designation of renewal communities, to provide tax incentives relating to such communities, and for other purposes. Sponsor: Sen Abraham, Spencer(introduced 2/24/1999) Related Bills: H.R.815 Latest Major Action: 2/24/1999 Referred to House subcommittee
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