S.Amdt. 552
What it does: Adds SEC. ____. EXPANSION OF DESIGNATED RENEWAL COMMUNITY AREA BASED ON 2000 CENSUS DATA at the end of subtitle C of title V
Sen. Charles E. Schumer (D-NY)What it changes
1 change to S. 1054 · shown in the bill's text
Adds SEC. ____. EXPANSION OF DESIGNATED RENEWAL COMMUNITY AREA BASED ON 2000 CENSUS DATA at the end of subtitle C of title V
Adds a sectionIn S. 1054 · Placed on Calendar Senate
(c) Effective Date.--The amendments made by this section shall apply to amounts paid or accrued after the date of enactment of this section in taxable years ending after such date.
Inserted: SEC. ____. EXPANSION OF DESIGNATED RENEWAL COMMUNITY AREA BASED ON 2000 CENSUS DATA.
Inserted: (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:
Inserted: "(g) Expansion of Designated Areas.--
Inserted: "(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--
Inserted: "(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
Inserted: "(B) which meets all failed population and poverty rate requirements of this section using 2000 census data.
Inserted: "(2) Expansion to certain areas which do not meet population requirements.--
Inserted: "(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.
Inserted: "(B) Area.--An area is described in this subparagraph if--
Inserted: "(i) the area is adjacent to at least 1 other area designated as a renewal community,
Inserted: "(ii) the area has a population less than the population required under subsection (c)(2)(C), and
Inserted: "(iii) the area meets the requirements of subparagraphs (A) and (B) of subsection (c)(2) and subparagraph (A) of subsection (c)(3).
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Inserted: "(3) Applicability.--Any expansion of a renewal community under this section shall take effect as provided in subsection (b).".
Inserted: (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.
Original wording
At the end of subtitle C of title V, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 552. Mr. Schumer (for himself and Mrs. Clinton) submitted an amendment intended to be proposed by him to the bill S. 1054, to provide for reconciliation pursuant to section 201 of the concurrent resolution on the budget for fiscal year 2004; which was ordered to lie on the table; as follows:
At the end of subtitle C of title V, insert the following:
SEC. ____. 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.
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Senate amendment submitted
May 14, 2003