I

106TH CONGRESS

2D SESSION H. R. 5473

To assist workers who are displaced by trade or technology through no

fault of their own by providing medical benefits, increasing government

job search assistance, eliminating taxes on certain severance packages,

planning for a pilot program to provide public employment for dislocated

workers, increasing funding for the International Program of Child Labor

of the International Labor Organization, establishing the Office of Community Economic Adjustment in the Economic Development Administration of the Department of Commerce to coordinate the Federal response

in regions and communities experiencing severe and sudden economic

distress, helping these regions and communities in restructuring their

economies, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

OCTOBER 16, 2000

Mr. LARSON introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, Commerce, Transportation and Infrastructure,

Banking and Financial Services, and International Relations, for a period

to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee

concerned

A BILL

To assist workers who are displaced by trade or technology

through no fault of their own by providing medical benefits, increasing government job search assistance, eliminating taxes on certain severance packages, planning for

a pilot program to provide public employment for dislocated workers, increasing funding for the International

Program of Child Labor of the International Labor Or-
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ganization, establishing the Office of Community Economic Adjustment in the Economic Development Administration of the Department of Commerce to coordinate

the Federal response in regions and communities experiencing severe and sudden economic distress, helping

these regions and communities in restructuring their

economies, and for other purposes.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. SHORT TITLE.

4 This Act may be cited as the ‘‘Rapid Change Oppor5 tunity Act’’.

6 TITLE I—FUNDING FOR ADDI7 TIONAL EMPOWERMENT

8 ZONES, ENTERPRISE COMMU9 NITIES, AND STRATEGIC

10 PLANNING COMMUNITIES

11 SEC. 101. SHORT TITLE.

12 This title may be cited as the ‘‘Empowerment Zones

13 and Enterprise Communities Enhancement Act of 2000’’.

14 SEC. 102. FUNDING ENTITLEMENT FOR ADDITIONAL EM15 POWERMENT ZONES AND ENTERPRISE COM16 MUNITIES, AND FOR STRATEGIC PLANNING

17 COMMUNITIES.

18 (a) ENTITLEMENT.—Section 2007(a)(1) of the Social

19 Security Act (42 U.S.C. 1397f(a)(1)) is amended—
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1 (1) in subparagraph (A), by striking ‘‘in the

2 State; and’’ and inserting ‘‘that is in the State and

3 is designated pursuant to section 1391(b) of the In4 ternal Revenue Code of 1986;’’;

5 (2) by adding after subparagraph (B) the fol6 lowing:

7 ‘‘(C)(i) 9 grants under this section for

8 each qualified empowerment zone that is in an

9 urban area in the State and is designated pur10 suant to section 1391(g) of such Code; and

11 ‘‘(ii) 9 grants under this section for each

12 qualified empowerment zone that is in a rural

13 area in the State and is designated pursuant to

14 section 1391(g) of such Code;

15 ‘‘(D) 9 grants under this section for each

16 qualified enterprise community that is in the

17 State and is designated pursuant to section 766

18 of the Agriculture, Rural Development, Food

19 and Drug Administration, and Related Agencies

20 Appropriations Act, 1999; and

21 ‘‘(E) 1 grant under this section for each

22 strategic planning community.’’.

23 (b) AMOUNT OF GRANTS.—Section 2007(a)(2) of

24 such Act (42 U.S.C. 1397f(a)(2)) is amended—
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1 (1) in the heading of subparagraph (A), by in2 serting ‘‘ORIGINAL’’ before ‘‘EMPOWERMENT’’;

3 (2) in subparagraph (A), in the matter pre4 ceding clause (i), by inserting ‘‘referred to in para5 graph (1)(A)’’ after ‘‘empowerment zone’’;

6 (3) by redesignating subparagraph (C) as sub7 paragraph (F); and

8 (4) by inserting after subparagraph (B) the fol9 lowing:

10 ‘‘(C) ADDITIONAL EMPOWERMENT

11 GRANTS.—The amount of the grant to a State

12 under this section for a qualified empowerment

13 zone referred to in paragraph (1)(C) shall be—

14 ‘‘(i) if the zone is in an urban area,

15 $7,000,000 for fiscal year 2000,

16 $10,000,000 for each of fiscal years 2001

17 through 2004, and $12,500,000 for each

18 of fiscal years 2005 through 2008; or

19 ‘‘(ii) if the zone is in a rural area,

20 $3,800,000 for each of fiscal years 2000

21 through 2004, and $4,750,000 for each of

22 fiscal years 2005 through 2008,

23 multiplied by the proportion of the population

24 of the zone that resides in the State.
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1 ‘‘(D) ADDITIONAL ENTERPRISE COMMU2 NITY GRANTS.—The amount of the grant to a

3 State under this section for a qualified enter4 prise community referred to in paragraph

5 (1)(D) shall be $3,000,000, multiplied by the

6 proportion of the population of the community

7 that resides in the State.

8 ‘‘(E) STRATEGIC PLANNING COMMUNITY

9 GRANTS.—The amount of the grant to a State

10 under this section for a strategic planning com11 munity shall be $3,000,000, multiplied by the

12 proportion of the population of the community

13 that resides in the State.’’.

14 (c) TIMING OF GRANTS.—Section 2007(a)(3) of such

15 Act (42 U.S.C. 1397f(a)(3)) is amended—

16 (1) in the heading of subparagraph (A), by in17 serting ‘‘ORIGINAL’’ before ‘‘QUALIFIED’’;

18 (2) in subparagraph (A), in the matter pre19 ceding clause (i), by inserting ‘‘referred to in para20 graph (1)(A)’’ after ‘‘empowerment zone’’; and

21 (3) by adding after subparagraph (B) the fol22 lowing:

23 ‘‘(C) ADDITIONAL QUALIFIED EMPOWER24 MENT ZONES.—With respect to each qualified

25 empowerment zone referred to in paragraph
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1 (1)(C), the Secretary shall make 1 grant under

2 this section to the State in which the zone lies,

3 on the first day of fiscal year 2000 and of each

4 of the 8 succeeding fiscal years.

5 ‘‘(D) ADDITIONAL QUALIFIED ENTERPRISE

6 COMMUNITIES.—With respect to each qualified

7 enterprise community referred to in paragraph

8 (1)(D), the Secretary shall make 1 grant under

9 this section to the State in which the commu10 nity is located on October 1, 1999.

11 ‘‘(E) STRATEGIC PLANNING COMMU12 NITIES.—With respect to each strategic plan13 ning community, the Secretary shall make 1

14 grant under this section to the State in which

15 the community is located, on October 1, 1999.’’.

16 (d) FUNDING.—Section 2007(a)(4) of such Act (42

17 U.S.C. 1397f(a)(4)) is amended—

18 (1) by striking ‘‘(4) FUNDING.—$1,000,000’’

19 and inserting the following:

20 ‘‘(4) FUNDING.—

21 ‘‘(A) ORIGINAL GRANTS.—$1,000,000’’;

22 (2) by inserting ‘‘for empowerment zones and

23 enterprise communities described in subparagraphs

24 (A) and (B) of paragraph (1)’’ before the period;

25 and
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1 (4) by adding after and below the end the fol2 lowing:

3 ‘‘(B) ADDITIONAL EMPOWERMENT ZONE

4 GRANTS.—$1,645,000,000 shall be made avail5 able to the Secretary for grants under this sec6 tion for empowerment zones referred to in para7 graph (1)(C).

8 ‘‘(C) ADDITIONAL ENTERPRISE COMMU9 NITY GRANTS.—$60,000,000 shall be made

10 available to the Secretary for grants under this

11 section for enterprise communities referred to

12 in paragraph (1)(D).

13 ‘‘(D) STRATEGIC PLANNING COMMUNITY

14 GRANTS.—$45,000,000 shall be made available

15 to the Secretary for grants under this section

16 for strategic planning communities.’’.

17 (e) DIRECT FUNDING FOR INDIAN TRIBES.—Section

18 2007(a) of such Act (42 U.S.C. 1397f(a)) is amended by

19 adding at the end the following:

20 ‘‘(5) DIRECT FUNDING FOR INDIAN TRIBES.—

21 ‘‘(A) IN GENERAL.—The Secretary may

22 make a grant under this section directly to the

23 governing body of an Indian tribe if—

24 ‘‘(i) the tribe is identified in the stra25 tegic plan of a qualified empowerment zone
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1 or qualified enterprise community as the

2 entity that assumes sole or primary re3 sponsibility for carrying out activities and

4 projects under the grant; and

5 ‘‘(ii) the grant is to be used for activi6 ties and projects that are—

7 ‘‘(I) included in the strategic

8 plan of the qualified empowerment

9 zone or qualified enterprise commu10 nity, consistent with this section; and

11 ‘‘(II) approved by the Secretary

12 of Agriculture, in the case of a quali13 fied empowerment zone or qualified

14 enterprise community in a rural area,

15 or the Secretary of Housing and

16 Urban Development, in the case of a

17 qualified empowerment zone or quali18 fied enterprise community in an urban

19 area.

20 ‘‘(B) RULES OF INTERPRETATION.—

21 ‘‘(i) If grant under this section is

22 made directly to the governing body of an

23 Indian tribe under subparagraph (A), the

24 tribe shall be considered a State for pur25 poses of this section.
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1 ‘‘(ii) This subparagraph shall not be

2 construed as making applicable to this sec3 tion the provisions of the Indian Self-De4 termination and Education Assistance

5 Act.’’.

6 (f) DEFINITIONS.—

7 (1) QUALIFIED ENTERPRISE COMMUNITY.—Sec8 tion 2007(f)(2)(A) of such Act (42 U.S.C.

9 1397f(f)(2)(A)) is amended by inserting ‘‘or pursu10 ant to section 766 of the Agriculture, Rural Devel11 opment, Food and Drug Administration, and Re12 lated Agencies Appropriations Act, 1999’’ before the

13 semicolon.

14 (2) STRATEGIC PLAN.—Section 2007(f)(3) of

15 such Act (42 U.S.C. 1397f(f)(3)) is amended by in16 serting ‘‘or under section 766 of the Agriculture,

17 Rural Development, Food and Drug Administration,

18 and Related Agencies Appropriations Act, 1999’’ be19 fore the period.

20 (3) STRATEGIC PLANNING COMMUNITY.—Sec21 tion 2007(f) of such Act (42 U.S.C. 1397f(f)) is

22 amended by adding at the end the following:

23 ‘‘(7) STRATEGIC PLANNING COMMUNITY.—The

24 term ‘strategic planning community’ means a re25 spondent to the Notice Inviting Applications at 63
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1 Federal Register 19162 (April 16, 1998) whose ap2 plication was ranked 16th through 30th in the com3 petition that concluded in December 1998.’’.

4 (4) INDIAN TRIBE.—Section 2007(f) of such

5 Act (42 U.S.C. 1397f(f)), as amended by paragraph

6 (3) of this subsection, is amended by adding at the

7 end the following:

8 ‘‘(8) INDIAN TRIBE.—The term ‘Indian tribe’

9 means any Indian tribe, band, nation, or other orga10 nized group or community, including any Alaska Na11 tive village or regional or village corporation as de12 fined in or established pursuant to the Alaska Na13 tive Claims Settlement Act, which is recognized as

14 eligible for the special programs and services pro15 vided by the United States to Indians because of

16 their status as Indians.’’.

17 SEC. 103. USE OF GRANT FUNDS.

18 (a) REVOLVING LOAN ACTIVITIES.—Section 2007(b)

19 of the Social Security Act (42 U.S.C. 1397f(b)) is amend20 ed by adding at the end the following:

21 ‘‘(5) REVOLVING LOAN ACTIVITIES.—

22 ‘‘(A) IN GENERAL.—In order to assist dis23 advantaged adults and youths in achieving and

24 maintaining economic self-support, a State may

25 use amounts paid under this section to fund re-
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1 volving loan funds or similar arrangements for

2 the purpose of making loans to residents, insti3 tutions, organizations, or businesses that hire

4 disadvantaged adults and youths.

5 ‘‘(B) RULES FOR DISBURSEMENT.—

6 Amounts to be used as described in subpara7 graph (A) shall be disbursed by the Secretary,

8 consistent with the provisions of the Cash Man9 agement Improvement Act and its implementing

10 rules, regulations, and procedures issued by the

11 Secretary of the Treasury—

12 ‘‘(i) in the case of a grant to a revolv13 ing loan fund—

14 ‘‘(I) pursuant to a written irrev15 ocable grant commitment; and

16 ‘‘(II) at such time or times as the

17 Secretary determines that the funds

18 are needed to meet the purposes of

19 such commitment; or

20 ‘‘(ii) in the case of a grant for pur21 poses of capitalizing an insured depository

22 institution (as defined in section 3 of the

23 Federal Deposit Insurance Act (12 U.S.C.

24 1813)) or an insured credit union (as de25 fined in section 101 of the Federal Credit
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1 Union Act (12 U.S.C. 1742)), at such time

2 or times as the Secretary determines that

3 funds are needed for such capitalization.’’.

4 (b) USE AS NON-FEDERAL SHARE.—Section 2007(b)

5 of such Act (42 U.S.C. 1397f(b)), as amended by sub6 section (a) of this section, is amended by adding at the

7 end the following:

8 ‘‘(6) A State may use amounts received from a

9 grant under this section to pay all or part of the

10 non-Federal share of expenditures under any other

11 Federal grant to a local public or nonprofit private

12 agency or organization for activities consistent with

13 the purposes of this section, unless the statutory au14 thority for such other grant expressly prohibits

15 counting of Federal grant funds as such non-Federal

16 share.’’.

17 SEC. 104. ENVIRONMENTAL REVIEW.

18 Section 2007 of the Social Security Act (42 U.S.C.

19 1397f) is amended—

20 (1) by redesignating subsection (f) as sub21 section (g); and

22 (2) by inserting after subsection (e) the fol23 lowing:

24 ‘‘(f) ENVIRONMENTAL REVIEW.—
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1 ‘‘(1) EXECUTION OF RESPONSIBILITY BY THE

2 SECRETARY OF HOUSING AND URBAN DEVELOPMENT

3 AND THE SECRETARY OF AGRICULTURE.—

4 ‘‘(A) APPLICABILITY.—This subsection

5 shall apply to grants under this section in con6 nection with empowerment zones, enterprise

7 communities, and strategic planning commu8 nities (as defined in subsection (g)).

9 ‘‘(B) EXECUTION OF RESPONSIBILITY.—

10 With respect to grants described in subpara11 graph (A), the Secretary of Housing and Urban

12 Development and the Secretary of Agriculture,

13 as appropriate, shall execute the responsibilities

14 under the National Environmental Policy Act of

15 1969 and other provisions of law that further

16 the purposes of such Act (as specified in regula17 tions issued by each such Secretary under para18 graph (2)(B)) that would otherwise apply to the

19 Secretary of Health and Human Services, and

20 may provide for the assumption of such respon21 sibilities in accordance with paragraphs (2)

22 through (5).

23 ‘‘(C) DEFINITION OF SECRETARY.—Except

24 as otherwise specified, in this subsection, the

25 term ‘Secretary’ means the Secretary of Hous-
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1 ing and Urban Development for purposes of

2 grants under this section with respect to quali3 fied empowerment zones and qualified enter4 prise communities in urban areas, and strategic

5 planning areas, and the Secretary of Agri6 culture for purposes of grants under this sec7 tion with respect to qualified empowerment

8 zones and qualified enterprise communities in

9 rural areas.

10 ‘‘(2) ASSUMPTION OF RESPONSIBILITY BY

11 STATES, UNITS OF GENERAL LOCAL GOVERNMENT,

12 AND INDIAN TRIBES.—

13 ‘‘(A) RELEASE OF FUNDS.—In order to as14 sure that the policies of the National Environ15 mental Policy Act of 1969 and other provisions

16 of law that further the purposes of such Act (as

17 specified in regulations issued by the Secretary

18 under subparagraph (B)) are most effectively

19 implemented in connection with the expenditure

20 of funds under this section, and to assure to the

21 public undiminished protection of the environ22 ment, the Secretary may, under such regula23 tions, in lieu of the environmental protection

24 procedures otherwise applicable, provide for the

25 release of funds for particular projects to recipi-
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1 ents of assistance under this section if the

2 State, unit of general local government, or In3 dian tribe, as designated by the Secretary in ac4 cordance with regulations issued by the Sec5 retary under subparagraph (B), assumes all of

6 the responsibilities for environmental review,

7 decisionmaking, and action pursuant to such

8 Act, and such other provisions of law as the

9 regulations of the Secretary specify, that would

10 otherwise apply to the Secretary were the Sec11 retary to undertake such projects as Federal

12 projects.

13 ‘‘(B) IMPLEMENTATION.—The Secretary of

14 Housing and Urban Development and the Sec15 retary of Agriculture shall each issue regula16 tions to carry out this subsection only after con17 sultation with the Council on Environmental

18 Quality. Such regulations shall—

19 ‘‘(i) specify any other provisions of

20 law that further the purposes of the Na21 tional Environmental Policy Act of 1969

22 and to which the assumption of responsi23 bility as provided in this subsection ap24 plies;
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1 ‘‘(ii) provide eligibility criteria and

2 procedures for the designation of a State,

3 unit of general local government, or Indian

4 tribe to assume all of the responsibilities

5 described in subparagraph (A);

6 ‘‘(iii) specify the purposes for which

7 funds may be committed without regard to

8 the procedure established under paragraph

9 (3);

10 ‘‘(iv) provide for monitoring of the

11 performance of environmental reviews

12 under this subsection;

13 (v) in the discretion of the Secretary,

14 provide for the provision or facilitation of

15 training for such performance; and

16 ‘‘(vi) subject to the discretion of the

17 Secretary, provide for suspension or termi18 nation by the Secretary of the assumption

19 under subparagraph (A).

20 ‘‘(C) RESPONSIBILITIES OF STATE, UNIT

21 OF GENERAL LOCAL GOVERNMENT, OR INDIAN

22 TRIBE.—The Secretary’s duty under subpara23 graph (B) shall not be construed to limit any

24 responsibility assumed by a State, unit of gen25 eral local government, or Indian tribe with re-
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1 spect to any particular release of funds under

2 subparagraph (A).

3 ‘‘(3) PROCEDURE.—The Secretary shall ap4 prove the release of funds for projects subject to the

5 procedures authorized by this subsection only if, not

6 less than 15 days prior to such approval and prior

7 to any commitment of funds to such projects (except

8 for such purposes specified in the regulations issued

9 under paragraph (2)(B)), the recipient submits to

10 the Secretary a request for such release accompanied

11 by a certification of the State, unit of general local

12 government, or Indian tribe that meets the require13 ments of paragraph (4). The approval by the Sec14 retary of any such certification shall be deemed to

15 satisfy the Secretary’s responsibilities pursuant to

16 paragraph (1) under the National Environmental

17 Policy Act of 1969 and such other provisions of law

18 as the regulations of the Secretary specify insofar as

19 those responsibilities relate to the releases of funds

20 for projects to be carried out pursuant thereto that

21 are covered by such certification.

22 ‘‘(4) CERTIFICATION.—A certification under the

23 procedures authorized by this subsection shall—

24 ‘‘(A) be in a form acceptable to the Sec25 retary;
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1 ‘‘(B) be executed by the chief executive of2 ficer or other officer of the State, unit of gen3 eral local government, or Indian tribe who

4 qualifies under regulations of the Secretary;

5 ‘‘(C) specify that the State, unit of general

6 local government, or Indian tribe under this

7 subsection has fully carried out its responsibil8 ities as described under paragraph (2); and

9 ‘‘(D) specify that the certifying officer—

10 ‘‘(i) consents to assume the status of

11 a responsible Federal official under the

12 National Environmental Policy Act of

13 1969 and each provision of law specified in

14 regulations issued by the Secretary insofar

15 as the provisions of such Act or other such

16 provisions of law apply pursuant to para17 graph (2); and

18 ‘‘(ii) is authorized and consents on be19 half of the State, unit of general local gov20 ernment, or Indian tribe and himself or

21 herself to accept the jurisdiction of the

22 Federal courts for the purpose of enforce23 ment of the responsibilities as such an offi24 cial.
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1 ‘‘(5) APPROVAL BY STATES.—In cases in which

2 a unit of general local government carries out the re3 sponsibilities described in paragraph (2), the Sec4 retary may permit the State to perform those ac5 tions of the Secretary described in paragraph (3).

6 The performance of such actions by the State, where

7 permitted, shall be deemed to satisfy the responsibil8 ities referred to in the second sentence of paragraph

9 (3).’’.

10 TITLE II—CREDIT AGAINST IN11 COME TAX FOR CERTAIN IN12 VESTMENTS IN BUSINESSES

13 LOCATED IN LOW-INCOME

14 COMMUNITIES

15 SEC. 201. SHORT TITLE.

16 This title may be cited as the ‘‘New Markets Tax

17 Credit Act of 2000’’.

18 SEC. 202. NEW MARKETS TAX CREDIT.

19 (a) IN GENERAL.—Subpart D of part IV of sub20 chapter A of chapter 1 of the Internal Revenue Code of

21 1986 (relating to business-related credits) is amended by

22 adding at the end the following new section:

23 ‘‘SEC. 45D. NEW MARKETS TAX CREDIT.

24 ‘‘(a) ALLOWANCE OF CREDIT.—
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1 ‘‘(1) IN GENERAL.—For purposes of section 38,

2 in the case of a taxpayer who holds a qualified eq3 uity investment on a credit allowance date of such

4 investment which occurs during the taxable year, the

5 new markets tax credit determined under this sec6 tion for such taxable year is an amount equal to 6

7 percent of the amount paid to the qualified commu8 nity development entity for such investment at its

9 original issue.

10 ‘‘(2) CREDIT ALLOWANCE DATE.—The term

11 ‘credit allowance date’ means, with respect to any

12 qualified equity investment—

13 ‘‘(A) the date on which such investment is

14 initially made, and

15 ‘‘(B) each of the 4 anniversary dates of

16 such date thereafter.

17 ‘‘(b) QUALIFIED EQUITY INVESTMENT.—For pur18 poses of this section—

19 ‘‘(1) IN GENERAL.—The term ‘qualified equity

20 investment’ means any equity investment in a quali21 fied community development entity if—

22 ‘‘(A) such investment is acquired by the

23 taxpayer at its original issue (directly or

24 through an underwriter) solely in exchange for

25 cash,
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1 ‘‘(B) substantially all of such cash is used

2 by the qualified community development entity

3 to make qualified low-income community invest4 ments, and

5 ‘‘(C) such investment is designated for

6 purposes of this section by the qualified com7 munity development entity.

8 Such term shall not include any equity investment

9 issued by a qualified community development entity

10 more than 5 years after the date that such entity re11 ceives an allocation under subsection (f). Any alloca12 tion not used within such 5-year period may be re13 allocated by the Secretary under subsection (f).

14 ‘‘(2) LIMITATION.—The maximum amount of

15 equity investments issued by a qualified community

16 development entity which may be designated under

17 paragraph (1)(C) by such entity shall not exceed the

18 portion of the limitation amount allocated under

19 subsection (f) to such entity.

20 ‘‘(3) SAFE HARBOR FOR DETERMINING USE OF

21 CASH.—The requirement of paragraph (1)(B) shall

22 be treated as met if at least 85 percent of the aggre23 gate gross assets of the qualified community devel24 opment entity are invested in qualified low-income

25 community investments.
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1 ‘‘(4) TREATMENT OF SUBSEQUENT PUR2 CHASERS.—The term ‘qualified equity investment’

3 includes any equity investment which would (but for

4 paragraph (1)(A)) be a qualified equity investment

5 in the hands of the taxpayer if such investment was

6 a qualified equity investment in the hands of a prior

7 holder.

8 ‘‘(5) REDEMPTIONS.—A rule similar to the rule

9 of section 1202(c)(3) shall apply for purposes of this

10 subsection.

11 ‘‘(6) EQUITY INVESTMENT.—The term ‘equity

12 investment’ means—

13 ‘‘(A) any stock in a qualified community

14 development entity which is a corporation, and

15 ‘‘(B) any capital interest in a qualified

16 community development entity which is a part17 nership.

18 ‘‘(c) QUALIFIED COMMUNITY DEVELOPMENT ENTI19 TY.—For purposes of this section—

20 ‘‘(1) IN GENERAL.—The term ‘qualified com21 munity development entity’ means any domestic cor22 poration or partnership if—

23 ‘‘(A) the primary mission of the entity is

24 serving, or providing investment capital for,

25 low-income communities or low-income persons,
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1 ‘‘(B) the entity maintains accountability to

2 residents of low-income communities through

3 representation on governing or advisory boards

4 or otherwise, and

5 ‘‘(C) the entity is certified by the Secretary

6 for purposes of this section as being a qualified

7 community development entity.

8 ‘‘(2) SPECIAL RULES FOR CERTAIN ORGANIZA9 TIONS.—The requirements of paragraph (1) shall be

10 treated as met by—

11 ‘‘(A) any specialized small business invest12 ment company (as defined in section

13 1044(c)(3)), and

14 ‘‘(B) any community development financial

15 institution (as defined in section 103 of the

16 Community Development Banking and Finan17 cial Institutions Act of 1994 (12 U.S.C. 4702)).

18 ‘‘(d) QUALIFIED LOW-INCOME COMMUNITY INVEST19 MENTS.—For purposes of this section—

20 ‘‘(1) IN GENERAL.—The term ‘qualified low-in21 come community investment’ means—

22 ‘‘(A) any equity investment in, or loan to,

23 any qualified active low-income community busi24 ness,
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1 ‘‘(B) the purchase from another commu2 nity development entity of any loan made by

3 such entity which is a qualified low-income com4 munity investment if the amount received by

5 such other entity from such purchase is used by

6 such other entity to make qualified low-income

7 community investments,

8 ‘‘(C) financial counseling and other serv9 ices specified in regulations prescribed by the

10 Secretary to businesses located in, and resi11 dents of, low-income communities, and

12 ‘‘(D) any equity investment in, or loan to,

13 any qualified community development entity if

14 substantially all of the investment or loan is

15 used by such entity to make qualified low-in16 come community investments described in sub17 paragraphs (A), (B), and (C).

18 ‘‘(2) QUALIFIED ACTIVE LOW-INCOME COMMU19 NITY BUSINESS.—

20 ‘‘(A) IN GENERAL.—For purposes of para21 graph (1), the term ‘qualified active low-income

22 community business’ means, with respect to any

23 taxable year, any corporation or partnership if

24 for such year—
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1 ‘‘(i) at least 50 percent of the total

2 gross income of such entity is derived from

3 the active conduct of a qualified business

4 within any low-income community,

5 ‘‘(ii) a substantial portion of the use

6 of the tangible property of such entity

7 (whether owned or leased) is within any

8 low-income community,

9 ‘‘(iii) a substantial portion of the serv10 ices performed for such entity by its em11 ployees are performed in any low-income

12 community,

13 ‘‘(iv) less than 5 percent of the aver14 age of the aggregate unadjusted bases of

15 the property of such entity is attributable

16 to collectibles (as defined in section

17 408(m)(2)) other than collectibles that are

18 held primarily for sale to customers in the

19 ordinary course of such business, and

20 ‘‘(v) less than 5 percent of the aver21 age of the aggregate unadjusted bases of

22 the property of such entity is attributable

23 to nonqualified financial property (as de24 fined in section 1397B(e)).
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1 ‘‘(B) PROPRIETORSHIP.—Such term shall

2 include any business carried on by an individual

3 as a proprietor if such business would meet the

4 requirements of subparagraph (A) were it incor5 porated.

6 ‘‘(C) PORTIONS OF BUSINESS MAY BE

7 QUALIFIED ACTIVE LOW-INCOME COMMUNITY

8 BUSINESS.—The term ‘qualified active low-in9 come community business’ includes any trades

10 or businesses which would qualify as a qualified

11 active low-income community business if such

12 trades or businesses were separately incor13 porated.

14 ‘‘(3) QUALIFIED BUSINESS.—For purposes of

15 this subsection, the term ‘qualified business’ has the

16 meaning given to such term by section 1397B(d);

17 except that—

18 ‘‘(A) in lieu of applying paragraph (2)(B)

19 thereof, the rental to others of real property lo20 cated in any low-income community shall be

21 treated as a qualified business if there are sub22 stantial improvements located on such property,

23 ‘‘(B) paragraph (3) thereof shall not apply,

24 and
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1 ‘‘(C) such term shall not include any busi2 ness if a significant portion of the equity inter3 ests in such business are held by any person

4 who holds a significant portion of the equity in5 vestments in the community development entity.

6 ‘‘(e) LOW-INCOME COMMUNITY.—For purposes of

7 this section—

8 ‘‘(1) IN GENERAL.—The term ‘low-income com9 munity’ means any population census tract if—

10 ‘‘(A) the poverty rate for such tract is at

11 least 20 percent, or

12 ‘‘(B)(i) in the case of a tract not located

13 within a metropolitan area, the median family

14 income for such tract does not exceed 80 per15 cent of statewide median family income, or

16 ‘‘(ii) in the case of a tract located within

17 a metropolitan area, the median family income

18 for such tract does not exceed 80 percent of the

19 greater of statewide median family income or

20 the metropolitan area median family income.

21 ‘‘(2) AREAS NOT WITHIN CENSUS TRACTS.—In

22 the case of an area which is not tracted for popu23 lation census tracts, the equivalent county divisions

24 (as defined by the Bureau of the Census for pur25 poses of defining poverty areas) shall be used for
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1 purposes of determining poverty rates and median

2 family income.

3 ‘‘(f) NATIONAL LIMITATION ON AMOUNT OF INVEST4 MENTS DESIGNATED.—

5 ‘‘(1) IN GENERAL.—There is a new markets tax

6 credit limitation of $1,200,000,000 for each of cal7 endar years 2000 through 2004.

8 ‘‘(2) ALLOCATION OF LIMITATION.—The limita9 tion under paragraph (1) shall be allocated by the

10 Secretary among qualified community development

11 entities selected by the Secretary. In making alloca12 tions under the preceding sentence, the Secretary

13 shall give priority to entities with records of having

14 successfully provided capital or technical assistance

15 to disadvantaged businesses or communities.

16 ‘‘(3) CARRYOVER OF UNUSED LIMITATION.—If

17 the new markets tax credit limitation for any cal18 endar year exceeds the aggregate amount allocated

19 under paragraph (2) for such year, such limitation

20 for the succeeding calendar year shall be increased

21 by the amount of such excess.

22 ‘‘(g) RECAPTURE OF CREDIT IN CERTAIN CASES.—

23 ‘‘(1) IN GENERAL.—If, at any time during the

24 5-year period beginning on the date of the original

25 issue of a qualified equity investment in a qualified
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1 community development entity, there is a recapture

2 event with respect to such investment, then the tax

3 imposed by this chapter for the taxable year in

4 which such event occurs shall be increased by the

5 credit recapture amount.

6 ‘‘(2) CREDIT RECAPTURE AMOUNT.—For pur7 poses of paragraph (1), the credit recapture amount

8 is an amount equal to the sum of—

9 ‘‘(A) the aggregate decrease in the credits

10 allowed to the taxpayer under section 38 for all

11 prior taxable years which would have resulted if

12 no credit had been determined under this sec13 tion with respect to such investment, plus

14 ‘‘(B) interest at the overpayment rate es15 tablished under section 6621 on the amount de16 termined under subparagraph (A) for each

17 prior taxable year for the period beginning on

18 the due date for filing the return for the prior

19 taxable year involved.

20 No deduction shall be allowed under this chapter for

21 interest described in subparagraph (B).

22 ‘‘(3) RECAPTURE EVENT.—For purposes of

23 paragraph (1), there is a recapture event with re24 spect to an equity investment in a qualified commu25 nity development entity if—
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1 ‘‘(A) such entity ceases to be a qualified

2 community development entity,

3 ‘‘(B) the proceeds of the investment cease

4 to be used as required of subsection (b)(1)(B),

5 or

6 ‘‘(C) such investment is redeemed by such

7 entity.

8 ‘‘(4) SPECIAL RULES.—

9 ‘‘(A) TAX BENEFIT RULE.—The tax for

10 the taxable year shall be increased under para11 graph (1) only with respect to credits allowed

12 by reason of this section which were used to re13 duce tax liability. In the case of credits not so

14 used to reduce tax liability, the carryforwards

15 and carrybacks under section 39 shall be appro16 priately adjusted.

17 ‘‘(B) NO CREDITS AGAINST TAX.—Any in18 crease in tax under this subsection shall not be

19 treated as a tax imposed by this chapter for

20 purposes of determining the amount of any

21 credit under this chapter or for purposes of sec22 tion 55.

23 ‘‘(h) BASIS REDUCTION.—The basis of any qualified

24 equity investment shall be reduced by the amount of any
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1 credit determined under this section with respect to such

2 investment.

3 ‘‘(i) REGULATIONS.—The Secretary shall prescribe

4 such regulations as may be appropriate to carry out this

5 section, including regulations—

6 ‘‘(1) which limit the credit for investments

7 which are directly or indirectly subsidized by other

8 Federal benefits (including the credit under section

9 42 and the exclusion from gross income under sec10 tion 103),

11 ‘‘(2) which prevent the abuse of the provisions

12 of this section through the use of related parties,

13 ‘‘(3) which impose appropriate reporting re14 quirements, and

15 ‘‘(4) which apply the provisions of this section

16 to newly formed entities.’’

17 (b) CREDIT MADE PART OF GENERAL BUSINESS

18 CREDIT.—

19 (1) IN GENERAL.—Subsection (b) of section 38

20 of such Code is amended by striking ‘‘plus’’ at the

21 end of paragraph (11), by striking the period at the

22 end of paragraph (12) and inserting ‘‘, plus’’, and

23 by adding at the end the following new paragraph:

24 ‘‘(13) the new markets tax credit determined

25 under section 45D(a).’’
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1 (2) LIMITATION ON CARRYBACK.—Subsection

2 (d) of section 39 of such Code is amended by adding

3 at the end the following new paragraph:

4 ‘‘(9) NO CARRYBACK OF NEW MARKETS TAX

5 CREDIT BEFORE JANUARY 1, 2000.—No portion of

6 the unused business credit for any taxable year

7 which is attributable to the credit under section 45D

8 may be carried back to a taxable year ending before

9 January 1, 2000.’’

10 (c) DEDUCTION FOR UNUSED CREDIT.—Subsection

11 (c) of section 196 of such Code is amended by striking

12 ‘‘and’’ at the end of paragraph (7), by striking the period

13 at the end of paragraph (8) and inserting ‘‘, and’’, and

14 by adding at the end the following new paragraph:

15 ‘‘(9) the new markets tax credit determined

16 under section 45D(a).’’

17 (d) CLERICAL AMENDMENT.—The table of sections

18 for subpart D of part IV of subchapter A of chapter 1

19 of such Code is amended by adding at the end the fol20 lowing new item:

‘‘Sec. 45D. New markets tax credit.’’

21 (e) EFFECTIVE DATE.—The amendments made by

22 this section shall apply to investments made after Decem23 ber 31, 1999.
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1 TITLE III—EXCLUSION OF CER2 TAIN SEVERANCE PAYMENT

3 AMOUNTS FROM INCOME

4 SEC. 301. SHORT TITLE.

5 This title may be cited as the ‘‘Layoff Tax Relief

6 Act’’.

7 SEC. 302. EXCLUSION FROM INCOME OF SEVERANCE PAY8 MENT AMOUNTS.

9 (a) IN GENERAL.—Part III of subchapter B of chap10 ter 1 of the Internal Revenue Code of 1986 (relating to

11 items specifically excluded from gross income) is amended

12 by redesignating section 139 as section 139A and by in13 serting after section 138 the following new section:

14 ‘‘SEC. 139. SEVERANCE PAYMENTS.

15 ‘‘(a) IN GENERAL.—In the case of an individual,

16 gross income shall not include any qualified severance pay17 ment.

18 ‘‘(b) LIMITATION.—The amount to which the exclu19 sion under subsection (a) applies shall not exceed $50,000

20 with respect to any separation from employment.

21 ‘‘(c) QUALIFIED SEVERANCE PAYMENT.—For pur22 poses of this section—

23 ‘‘(1) IN GENERAL.—The term ‘qualified sever24 ance payment’ means any payment received by an

25 individual if—
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1 ‘‘(A) such payment was paid by such indi2 vidual’s employer on account of such individ3 ual’s separation from employment, and

4 ‘‘(B) such separation was in connection

5 with a reduction in the work force of the em6 ployer.

7 Such term shall include any payment received by an

8 individual from such individual’s employer on ac9 count of such individual’s completion of a degree

10 program pursuant to an education program of the

11 employer if such payment is received after such indi12 vidual’s separation from employment in connection

13 with a reduction in the work force of the employer.

14 ‘‘(2) LIMITATION.—Such term shall not include

15 any payment received by an individual if the aggre16 gate payments received with respect to the separa17 tion from employment exceed $150,000.’’

18 (b) CLERICAL AMENDMENT.—The table of sections

19 for part III of subchapter B of chapter 1 of such Code

20 is amended by striking the item relating to section 139

21 and inserting the following new items:

‘‘Sec. 139. Severance payments.

‘‘Sec. 139A. Cross references to other Acts.’’

22 (c) EFFECTIVE DATE.—The amendments made by

23 this section shall apply to taxable years beginning after

24 December 31, 1999.
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1 TITLE IV—EXTENSION OF

2 MEDICAL BENEFITS

3 SEC. 401. AMENDMENTS TO THE EMPLOYEE RETIREMENT

4 INCOME SECURITY ACT OF 1974.

5 (a) ESTABLISHMENT OF NEW QUALIFYING

6 EVENT.—

7 (1) IN GENERAL.—Section 603 of the Employee

8 Retirement Income Security Act of 1974 (29 U.S.C.

9 1163) is amended by inserting after paragraph (6)

10 the following new paragraph:

11 ‘‘(7) the covered employee becoming eligible for

12 adjustment assistance under chapter 2 of title II of

13 the Trade Act of 1974 (19 U.S.C. 2271 et seq.)’’.

14 (2) ELIGIBLE FOR ADJUSTMENT ASSISTANCE

15 DEFINED.—Section 607 of such Act (29 U.S.C.

16 1167) is amended—

17 (A) in paragraph (3)—

18 (i) in subparagraph (A), by inserting

19 ‘‘except as otherwise provided in this para20 graph’’ after ‘‘means,’’; and

21 (ii) by adding at the end the following

22 new subparagraph:

23 ‘‘(D) SPECIAL RULE FOR CERTAIN WORK24 ERS ELIGIBLE FOR ADJUSTMENT ASSIST25 ANCE.—In the case of a qualifying event de-
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1 scribed in section 603(7), the term ‘eligible for

2 adjustment assistance’ means a covered em3 ployee and any other individual who, on the day

4 before such qualifying event, is a beneficiary

5 under the plan on the basis of the individual’s

6 relationship to such covered employee.’’; and

7 (B) by adding at the end the following new

8 paragraph:

9 ‘‘(6) ELIGIBLE FOR ADJUSTMENT ASSIST10 ANCE.—The term ‘eligible for adjustment assistance’

11 means with respect to a qualifying event described in

12 section 603(7), an individual who becomes eligible

13 for adjustment assistance under chapter 2 of title II

14 of the Trade Act of 1974 (19 U.S.C. 2271 et seq.)’’.

15 (3) PREMIUM REQUIREMENTS.—Section 602(3)

16 is amended by adding at the end the following sen17 tence: ‘‘In a case of an individual described in para18 graph 607(6), the Federal government shall pay any

19 premiums previously paid by the employer.

20 (b) EFFECTIVE DATE.—The amendments made by

21 this section shall apply to qualifying events occurring on

22 or after January 1, 2001. In the case of a qualifying event

23 occurring on or after such date and before the date of

24 the enactment of this Act, such event shall be deemed (for
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1 purposes of such amendments) to have occurred on the

2 date of the enactment of this Act.

3 SEC. 402. AMENDMENTS TO THE PUBLIC HEALTH SERVICE

4 ACT.

5 (a) ESTABLISHMENT OF NEW QUALIFYING

6 EVENT.—

7 (1) IN GENERAL.—Section 2203 of the Public

8 Health Service Act (42 U.S.C. 300bb-3) is amended

9 by inserting after paragraph (5) the following new

10 paragraph:

11 ‘‘(6) the covered employee becoming eligible for

12 adjustment assistance under chapter 2 of title II of

13 the Trade Act of 1974 (19 U.S.C. 2271 et seq.)’’.

14 (2) ELIGIBLE FOR ADJUSTMENT ASSISTANCE

15 DEFINED.—Section 2208 of such Act (42 U.S.C.

16 300bb-8) is amended—

17 (A) in paragraph (3)—

18 (i) in subparagraph (A), by inserting

19 ‘‘except as otherwise provided in this para20 graph’’ after ‘‘means,’’; and

21 (ii) by adding at the end the following

22 new subparagraph:

23 ‘‘(C) SPECIAL RULE FOR CERTAIN WORK24 ERS ELIGIBLE FOR ADJUSTMENT ASSIST25 ANCE.—In the case of a qualifying event de-
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1 scribed in section 2203(6), the term ‘eligible for

2 adjustment assistance’ means a covered em3 ployee and any other individual who, on the day

4 before such qualifying event, is a beneficiary

5 under the plan on the basis of the individual’s

6 relationship to such covered employee.’’; and

7 (B) by adding at the end the following new

8 paragraph:

9 ‘‘(5) ELIGIBLE FOR ADJUSTMENT ASSIST10 ANCE.—The term ‘eligible for adjustment assistance’

11 means with respect to a qualifying event described in

12 section 2203(6), an individual who becomes eligible

13 for adjustment assistance under chapter 2 of title II

14 of the Trade Act of 1974 (19 U.S.C. 2271 et seq.)’’.

15 (3) PREMIUM REQUIREMENTS.—Section

16 2202(3) is amended by adding at the end the fol17 lowing sentence: ‘‘In a case of an individual de18 scribed in paragraph 2208(5), the Federal govern19 ment shall pay any premiums previously paid by the

20 employer.

21 (b) EFFECTIVE DATE.—The amendments made by

22 this section shall apply to qualifying events occurring on

23 or after January 1, 2001. In the case of a qualifying event

24 occurring on or after such date and before the date of

25 the enactment of this Act, such event shall be deemed (for
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1 purposes of such amendments) to have occurred on the

2 date of the enactment of this Act.

3 SEC. 403. AMENDMENTS TO THE INTERNAL REVENUE CODE

4 OF 1986.

5 (a) ESTABLISHMENT OF NEW QUALIFYING

6 EVENT.—

7 (1) IN GENERAL.—Section 4980B(f)(3) of the

8 Internal Revenue Code of 1986 is amended by in9 serting after subparagraph (F) the following new

10 subparagraph:

11 ‘‘(G) the covered employee becoming eligi12 ble for adjustment assistance under chapter 2

13 of title II of the Trade Act of 1974 (19 U.S.C.

14 2271 et seq.)’’.

15 (2) ELIGIBLE FOR ADJUSTMENT ASSISTANCE

16 DEFINED.—Section 4980B(g) of such Code is

17 amended—

18 (A) in paragraph (1)—

19 (i) in subparagraph (A), by inserting

20 ‘‘except as otherwise provided in this para21 graph’’ after ‘‘means,’’; and

22 (ii) by adding at the end the following

23 new subparagraph:

24 ‘‘(E) SPECIAL RULE FOR CERTAIN WORK25 ERS ELIGIBLE FOR ADJUSTMENT ASSIST-
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1 ANCE.—In the case of a qualifying event de2 scribed in subsection (f)(3)(G), the term ‘eligi3 ble for adjustment assistance’ means a covered

4 employee and any other individual who, on the

5 day before such qualifying event, is a bene6 ficiary under the plan on the basis of the indi7 vidual’s relationship to such covered em8 ployee.’’; and

9 (B) by adding at the end the following new

10 paragraph:

11 ‘‘(5) ELIGIBLE FOR ADJUSTMENT ASSIST12 ANCE.—The term ‘eligible for adjustment assistance’

13 means with respect to a qualifying event described in

14 section (f)(3)(G), an individual who becomes eligible

15 for adjustment assistance under chapter 2 of title II

16 of the Trade Act of 1974 (19 U.S.C. 2271 et seq.)’’.

17 (3) PREMIUM REQUIREMENTS.—Section

18 4980B(f)(2)(C) is amended by adding at the end the

19 following sentence: ‘‘In a case of an individual de20 scribed in subsection (g)(5), the Federal government

21 shall pay any premiums previously paid by the em22 ployer.

23 (b) EFFECTIVE DATE.—The amendments made by

24 this section shall apply to qualifying events occurring on

25 or after January 1, 2001. In the case of a qualifying event
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1 occurring on or after such date and before the date of

2 the enactment of this Act, such event shall be deemed (for

3 purposes of such amendments) to have occurred on the

4 date of the enactment of this Act.

5 TITLE V—COMMUNITY ECO6 NOMIC ADJUSTMENT ACT OF

7 2000

8 SEC. 501. SHORT TITLE.

9 This title may be cited as the ‘‘Community Economic

10 Adjustment Act of 2000’’.

11 SEC. 502. FINDINGS AND PURPOSES

12 (a) FINDINGS.—Congress finds the following:

13 (1) When a community suffers a significant loss

14 of jobs over a relatively short period of time whether

15 from industrial or corporate restructuring, new re16 quirements in Federal laws or regulations, reduction

17 in defense expenditures, depletion of natural re18 sources, natural disasters, changing trade patterns

19 or other reasons, it can experience sudden economic

20 distress.

21 (2) Federal departments and agencies with ex22 isting programs that support workers and commu23 nities in States and local areas in their efforts to re24 cover from this economic distress do so in a capacity

25 defined by the mission of the department or agency.
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1 (3) Federal departments and agencies providing

2 such assistance include the Department of Agri3 culture, Department of Commerce, Department of

4 Defense, Department of Education, Department of

5 Labor, Department of Housing and Urban Develop6 ment, the Department of the Treasury, and the

7 Small Business Administration.

8 (4) To date, no Federal department or agency

9 has unique authority to coordinate these often inde10 pendent efforts across the Federal Government in

11 the same manner as the Federal Emergency Man12 agement Agency is charged to coordinate the Fed13 eral response to a disaster or the Department of De14 fense’s Office of Economic Adjustment is charged to

15 coordinate the Federal response for communities ex16 periencing base closures and realignments.

17 (5) There is a recognized need for the Federal

18 Government to be able to coordinate its response to

19 communities experiencing sudden economic distress

20 both at the national level and in the community

21 itself, and to further be able to coordinate the Fed22 eral response with State and local efforts.

23 (6) The Office of Economic Adjustment of the

24 Department of Defense has successfully provided

25 such coordination across the Federal Government
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1 for communities experiencing defense base closures

2 and is a good model on which to base any govern3 ment-wide coordination effort with respect to com4 munities experiencing sudden economic distress.

5 (7) The mission of the Economic Development

6 Administration of the Department of Commerce in7 cludes helping States and local areas to design and

8 implement strategies for facilitating adjustment to

9 changes in their economic situation that are causing

10 or threaten to cause serious structural damage to

11 the underlying economic base which may occur sud12 denly, and as a result, is the most appropriate place

13 in the Federal Government to locate an office to co14 ordinate Federal response to communities experi15 encing sudden economic distress.

16 (b) PURPOSES.—The purposes of this title are—

17 (1) to help communities to adjust to such eco18 nomic dislocation by providing for targeted and inte19 grated Federal responses by authorizing the Sec20 retary of Commerce to coordinate the Federal re21 sponse through an Office of Community Economic

22 Adjustment which will employ methods and tech23 niques proven successful by the Defense Depart24 ment’s Office of Economic Adjustment in connection

25 with defense base closures; and
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1 (2) to increase authorization of appropriations

2 for community adjustment programs of the Eco3 nomic Development Administration to provide the

4 Secretary of Commerce with more resources for

5 grant assistance for communities to support the de6 velopment and implementation of adjustment strate7 gies that are designed to restore vital economic ac8 tivity and create new jobs.

9 SEC. 503 OFFICE OF COMMUNITY ECONOMIC ADJUSTMENT.

10 Title V of the Public Works and Economic Develop11 ment Act of 1965 (42 U.S.C. 3191) is amended by adding

12 at the end the following:

13 ‘‘SEC. 508. OFFICE OF COMMUNITY ECONOMIC ADJUST14 MENT.

15 ‘‘(a) ESTABLISHMENT.—The Secretary is authorized

16 to establish in the Economic Development Administration

17 an Office of Community Economic Adjustment (herein18 after in this section referred to as the ‘Office’). The head

19 of the Office shall, not later than 90 days after the date

20 of the enactment of the Community Economic Adjustment

21 Act of 2000, develop an operating plan for the Office.

22 ‘‘(b) DUTIES.—The Office shall—

23 ‘‘(1) coordinate the Federal Government’s re24 sponse to communities experiencing sudden economic

25 distress caused by a loss of jobs due to plant clo-
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1 sures, significant layoffs, or significant relocation of

2 jobs to other communities for any reason, including

3 shifting patterns in international trade, natural dis4 asters or other problems, by—

5 ‘‘(A) identifying relevant programs and re6 sources to ensure that communities are aware

7 of all available Federal resources that com8 plement or support state and local resources

9 and programs; and

10 ‘‘(B) working with the Departments of the

11 Treasury, Agriculture, Labor, Housing and

12 Urban Development, and Education, the Small

13 Business Administration, and other agencies to

14 ensure that communities receive Federal assist15 ance in a targeted, integrated manner;

16 ‘‘(C) assigning a project manager as ap17 propriate to work with an affected community

18 to carry out subparagraphs (A) and (B);

19 ‘‘(2) provide technical assistance, planning

20 grants, and other assistance under this Act to help

21 communities organize themselves, develop, and carry

22 out economic adjustment strategies for replacing in23 dustry and jobs that have been lost or are threat24 ened by the economic downturn;
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1 ‘‘(3) help eligible applicants in completing appli2 cations for other assistance that may be useful in al3 leviating the economic distress in the communities;

4 and

5 ‘‘(4) perform such other duties as the Secretary

6 may deem appropriate.’’.

7 SEC. 504. AUTHORIZATION OF APPROPRIATIONS.

8 Title VII of the Public Works and Economic Develop9 ment Act (42 U.S.C. 3231) is amended by adding at the

10 end the following:

11 ‘‘SEC. 704. AUTHORIZATION OF APPROPRIATIONS FOR COM12 MUNITY ADJUSTMENT ASSISTANCE.

13 ‘‘(a) IN GENERAL.—In addition to amounts made

14 available under section 701, there is authorized to be ap15 propriated $35,000,000 for each of fiscal years 2001

16 through 2005 for community adjustment assistance under

17 the economic adjustment program of the Economic Devel18 opment Administration, of which—

19 ‘‘(1) $10,000,000 is authorized to be appro20 priated for each such fiscal year to the Office of

21 Community Economic Adjustment established under

22 section 508(a) for the conduct of the duties of the

23 Office under section 508(b), of which not to exceed

24 $1,500,000 may be made available for salaries and

25 expenses of the Office; and
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1 ‘‘(2) $25,000,000 is authorized to be appro2 priated for each such fiscal year for additional eco3 nomic development program funds in addition to the

4 amounts available for such purposes for communities

5 successfully completing planning grants (as de6 scribed in section 508(b)(2)) to implement their ap7 proved plans.

8 ‘‘(b) AVAILABILITY.—Amounts appropriated pursu9 ant to the authorization of appropriations under sub10 section (a) are authorized to remain available until ex11 pended.’’.

12 TITLE VI—MISCELLANEOUS

13 PROVISIONS

14 SEC. 601. STUDY AND REPORT RELATING TO PILOT

15 PROJECTS FOR PUBLIC EMPLOYMENT FOR

16 TEMPORARILY DISLOCATED WORKERS.

17 (a) STUDY.—The Secretary of Labor shall conduct

18 a study on the feasibility of establishing and carrying out

19 1 or more pilot projects to provide public employment for

20 temporarily dislocated workers.

21 (b) REPORT.—Not later than 1 year after the date

22 of the enactment of this Act, the Secretary of Labor shall

23 prepare and submit to the Congress a report that contains

24 the results of the study conducted under subsection (a).
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1 SEC. 602. RESUME PREPARATION ASSISTANCE FOR ELIGI2 BLE INDIVIDUALS UNDER THE WORKFORCE

3 INVESTMENT ACT OF 1998.

4 (a) YOUTH ACTIVITIES.—Section 129(c)(2) of the

5 Workforce Investment Act of 1998 (29 U.S.C. 2854(c)(2))

6 is amended—

7 (1) in subparagraph (I), by striking ‘‘and’’ at

8 the end;

9 (2) in subparagraph (J), by striking the period

10 and inserting ‘‘; and’’; and

11 (3) by adding at the end the following:

12 ‘‘(K) assistance for the preparation of re13 sumes and related pre-employment assistance.’’.

14 (b) ADULT AND DISLOCATED WORKER ACTIVI15 TIES.—Section 134(d)(2)(D) of the Workforce Investment

16 Act of 1998 (29 U.S.C. 2864(d)(2)(D)) is amended by in17 serting after ‘‘job search and placement assistance’’ the

18 following: ‘‘, including assistance for the preparation of

19 resumes and related pre-employment assistance’’.

20 SEC. 603. FUNDING FOR INTERNATIONAL PROGRAM FOR

21 THE ELIMINATION OF CHILD LABOR (IPEC)

22 OF THE INTERNATIONAL LABOR ORGANIZA23 TION (ILO).

24 There is authorized to be appropriated to the Presi25 dent for a contribution to the International Program for

26 the Elimination of Child Labor (IPEC) of the Inter-
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1 national Labor Organization (ILO) $45,000,000 for fiscal

2 year 2001.

Æ