[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 1011 Introduced in Senate (IS)]
109th CONGRESS
1st Session
S. 1011
To establish a national historic country store preservation program.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
May 12, 2005
Mr. Jeffords introduced the following bill; which was read twice and
referred to the Committee on Commerce, Science, and Transportation
_______________________________________________________________________
A BILL
To establish a national historic country store preservation program.
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 ``National Historic Country Store
Preservation Act of 2005''.
SEC. 2. FINDINGS.
Congress finds that--
(1) historic country stores are lasting icons of rural
tradition in the United States;
(2) historic country stores are valuable contributors to
the civic and economic vitality of their local communities;
(3) historic country stores demonstrate innovative
approaches to historic preservation and small business
practices;
(4) historic country stores are threatened by larger
competitors and the costs associated with maintaining older
structures; and
(5) the United States should--
(A) collect and disseminate information concerning
the number, condition, and variety of historic country
stores;
(B) develop opportunities for cooperation among
proprietors of historic country stores; and
(C) promote the long-term economic viability of
historic country stores.
SEC. 3. DEFINITIONS.
In this Act:
(1) Country store.--
(A) In general.--The term ``country store'' means a
structure independently owned and formerly or currently
operated as a business that--
(i) sells or sold grocery items and other
small retail goods; and
(ii) is located in a nonmetropolitan area,
as defined by the Secretary.
(B) Inclusion.--The term ``country store'' includes
a cooperative.
(2) Eligible applicant.--The term ``eligible applicant''
means--
(A) a State department of commerce or economic
development;
(B) a national or State nonprofit organization
that--
(i) is described in section 501(c)(3), and
exempt from Federal tax under section 501(a),
of the Internal Revenue Code of 1986; and
(ii) has experience or expertise, as
determined by the Secretary, in the
identification, evaluation, rehabilitation, or
preservation of historic country stores;
(C) a national or State nonprofit trade
organization that--
(i) is described in section 501(c)(3), and
exempt from Federal tax under section 501(a),
of the Internal Revenue Code of 1986; and
(ii) acts as a cooperative to promote and
enhance country stores; and
(D) a State historic preservation office.
(3) Fund.--The term ``Fund'' means the Historic Country
Store Revolving Loan Fund established by section 5(a).
(4) Historic country store.--The term ``historic country
store'' means a country store that--
(A) has operated at the same location for at least
50 years; and
(B) retains sufficient integrity of design,
materials, and construction to clearly identify the
structure as a country store.
(5) Secretary.--The term ``Secretary'' means the Secretary
of Commerce, acting through the Assistant Secretary for
Economic Development.
SEC. 4. HISTORIC COUNTRY STORE PRESERVATION PROGRAM.
(a) Establishment.--The Secretary shall establish a historic
country store preservation program--
(1) to collect and disseminate information on historic
country stores;
(2) to promote State and regional partnerships among
proprietors of historic country stores; and
(3) to sponsor and conduct research on--
(A) the economic impact of historic country stores;
(B) best practices to--
(i) improve the profitability of historic
country stores; and
(ii) protect historic country stores from
foreclosure or seizure; and
(C) best practices for developing cooperative
organizations that address the economic and historic
preservation needs of historic country stores.
(b) Grants.--
(1) In general.--The Secretary may make grants to, or enter
into contracts or cooperative agreements with, eligible
applicants to carry out an eligible project under paragraph
(2).
(2) Eligible projects.--A grant under this subsection may
be made to an eligible entity for a project--
(A) to rehabilitate or repair a historic country
store;
(B) to identify, document, and conduct research on
historic country stores; and
(C) to develop and evaluate appropriate techniques
or best practices for protecting historic country
stores.
(3) Requirements.--An eligible applicant that receives a
grant for an eligible project under paragraph (1) shall comply
with all applicable requirements for historic preservation
projects under Federal, State, and local law.
(c) Country Store Alliance Pilot Project.--The Secretary shall
carry out a pilot project in the State of Vermont under which the
Secretary shall conduct demonstration activities to preserve historic
country stores, including--
(1) the collection and dissemination of information on
historic country stores in the State;
(2) the development of collaborative country store
marketing and purchasing techniques; and
(3) the development of best practices for historic country
store proprietors and communities facing transitions involved
in the sale or closure of a historic country store.
SEC. 5. HISTORIC COUNTRY STORE REVOLVING LOAN FUND.
(a) Establishment.--There is established in the Treasury of the
United States a revolving fund, to be known as the ``Historic Country
Store Revolving Loan Fund'', consisting of--
(1) such amounts as are appropriated to the Fund under
subsection (b);
(2) \1/3\ of the amounts appropriated under section 7(a);
and
(3) any interest earned on investment of amounts in the
Fund under subsection (d).
(b) Transfers to Fund.--There are appropriated to the Fund amounts
equivalent to--
(1) the amounts repaid on loans under section 6; and
(2) the amounts of the proceeds from the sales of notes,
bonds, obligations, liens, mortgages and property delivered or
assigned to the Secretary pursuant to loans made under section
6.
(c) Expenditures From Fund.--
(1) In general.--Subject to paragraph (2), on request by
the Secretary, the Secretary of the Treasury shall transfer
from the Fund to the Secretary such amounts as the Secretary
determines are necessary to provide loans under section 6.
(2) Administrative expenses.--An amount not exceeding 10
percent of the amounts in the Fund shall be available for each
fiscal year to pay the administrative expenses necessary to
carry out this Act.
(d) Investment of Amounts.--
(1) In general.--The Secretary of the Treasury shall invest
such portion of the Fund as is not, in the judgment of the
Secretary of the Treasury, required to meet current
withdrawals.
(2) Interest-bearing obligations.--Investments may be made
only in interest-bearing obligations of the United States.
(3) Acquisition of obligations.--For the purpose of
investments under paragraph (1), obligations may be acquired--
(A) on original issue at the issue price; or
(B) by purchase of outstanding obligations at the
market price.
(4) Sale of obligations.--Any obligation acquired by the
Fund may be sold by the Secretary of the Treasury at the market
price.
(5) Credits to fund.--The interest on, and the proceeds
from the sale or redemption of, any obligations held in the
Fund shall be credited to and form a part of the Fund.
(e) Transfers of Amounts.--
(1) In general.--The amounts required to be transferred to
the Fund under this section shall be transferred at least
monthly from the general fund of the Treasury to the Fund on
the basis of estimates made by the Secretary of the Treasury.
(2) Adjustments.--Proper adjustment shall be made in
amounts subsequently transferred to the extent prior estimates
were in excess of or less than the amounts required to be
transferred.
SEC. 6. LOANS FOR HISTORIC COUNTRY STORE REHABILITATION OR REPAIR
PROJECTS.
(a) In General.--Using amounts in the Fund, the Secretary may make
loans to historic country store proprietors and eligible applicants for
projects to purchase, rehabilitate, or repair historic country stores.
(b) Applications.--
(1) In general.--To be eligible for a loan under this
section, a country store proprietor or eligible applicant shall
submit to the Secretary an application for a loan.
(2) Considerations for approval or disapproval.--In
determining whether to approve or disapprove an application for
a loan submitted under paragraph (1), the Secretary shall
consider--
(A) the demonstrated need for the purchase,
construction, reconstruction, or renovation of the
historic country store based on the condition of the
historic country store;
(B) the age of the historic country store; and
(C) the extent to which the project to purchase,
rehabilitate, or repair the historic country store
includes collaboration among historic country store
proprietors and other eligible applicants.
(c) Requirements.--An eligible applicant that receives a loan for a
project under this section shall comply with all applicable standards
for historic preservation projects under Federal, State, and local law.
SEC. 7. AUTHORIZATION OF APPROPRIATIONS.
(a) In General.--There is authorized to be appropriated to carry
out this Act, $50,000,000 for the period of fiscal years 2006 through
2011, to remain available until expended.
(b) Country Store Alliance Pilot Project.--Of the amount made
available under subsection (a), not less than $250,000 shall be made
available to carry out section 4(c).
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