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(2) with full recognition of the constitutional
right of either House to change such rules (so far as
relating to such House) at any time, in the same
manner, and to the same extent as in the case of any
other rule of such House.
TITLE XV—MISCELLANOUS
PROVISIONS
SEC. 15001. SENSE OF THE SENATE WITH RESPECT TO FED-
ERAL ENTERPRISE ZONES AND RURAL DE-
VELOPMENT INVESTMENT ZONES.
(a) FINDINGS.—The Senate finds that—
(1) the crises of poverty, high unemployment,
out-migration, and job loss in America’s inner-cities,
rural areas and Indian reservations demands an ap-
propriate and timely response from Congress;
(2) manufacturing and industry has largely dis-
appeared from many United States inner cities and
rural areas. This, in turn, has led to the severe de-
cline in good high-wage jobs, wholesale trade, retail
businesses, and a large source of local tax revenues;
(3) encouraging small and medium-sized busi-
nesses, which create the majority of new jobs in the
United States economy, to locate and invest in poor
areas is one of the keys to revitalizing urban and
rural America;
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(4) Enterprise Zones will help attract businesses
to build and grow in poor areas; they will give people
incentives to invest in such businesses and to hire and
train both unemployed and economically disadvan-
taged individuals; they will create jobs and stimulate
entrepreneurship; and they will help restore the local
tax revenue base to these communities;
(5) the decline of small industry in rural areas
has caused thousands of people to leave such areas,
thus hastening the decay of rural communities and
leaving the elderly in particular stranded without the
help of family and younger neighbors;
(6) Enterprise Zones have been tested in 37
States since 1982 and have proven to be successful,
having generated capital investments in poor neigh-
borhoods in excess of $28,000,000,000 and having cre-
ated more than 258,000 jobs; and
(7) Enterprise Zones have been endorsed by,
among others, the National Governors Association, the
National Council of State Legislators, the Council of
Black State Legislators, the Conference of Mayors,
and the Conference of Black Mayors.
(b) DEFINITIONS.—
(1) The term ‘‘Enterprise Zone’’ means any eco-
nomically distressed urban area, rural area, or In-
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dian reservation designated by the Secretaries of
Housing and Urban Development, Agriculture or In-
terior for special regulatory and tax treatment, and
for the targeting of Federal, State, and local programs
for the purposes of providing economic revitalization,
economic development, and job creation;
(2) The term ‘‘empowerment zone’’ means any
designated enterprise zone which is designated to re-
ceive the full package of regulatory and tax relief and
targeted programs as provided for by the enterprise
zone program; and
(3) The term ‘‘enterprise community’’ means any
area eligible for enterprise zone designation and ulti-
mately designated by the Secretaries of Housing and
Urban Development, Agriculture, or the Interior but
does not receive the full package regulatory relief, tax
relief and targeted programs.
(c) SENSE OF THE SENATE.—It is the Sense of the
Senate that—
(1) enterprise zones are a vital, proven tool for
inner-city, rural, and Indian reservation revitaliza-
tion and that Congress should adopt Federal enter-
prise zone legislation;
(2) to insure cooperation and coordination
among Federal agencies and to provide targeted regu-
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latory relief, such legislation shall include the estab-
lishment of an Enterprise Board to development the
selection criteria and to waive any provision of Fed-
eral law or regulation administered by the Secretary
of the Department’s of Housing and Urban Develop-
ment, Agriculture, Health and Human Services,
Labor, or Education, if the Board determines the
waiver is necessary for achievement of the comprehen-
sive strategic plan of an enterprise zone;
(3) to adequately and substantially address the
crisis in urban and rural America, such legislation
shall include at least 75 empowerment zones; and
(4) each empowerment zone shall include each of
the following provisions:
(A) Enterprise Grants for implementing
local coordinated strategic plans such as:
(i) creating new, coordinated delivery
systems for relevant government services;
(ii) creating community lending or
micro-enterprise loan funds;
(iii) providing technical assistance, en-
trepreneurial support, workforce skill pro-
grams, and job-search and job matching
networks in the labor market;
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(iv) leveraging private matching sup-
port; and
(v) matching funds for community de-
velopment corporations;
(B) Community Policing Grants to increase
police presence, expand cooperative efforts be-
tween law enforcement and the community, and
to assure public safety;
(C) Innovative programs and zone priority
investments of existing Federal agency funds tar-
geted towards empowerment zones;
(D) Tax incentives aimed at reducing both
capital and labor costs associated with operation
of a business in an empowerment zone;
(E) Tax incentives aimed at attracting eq-
uity investments, including venture and seed
capital, in start-up or small enterprise zone
businesses; and
(F) Tax incentives to encourage the hiring
and training of economically disadvantaged in-
dividuals;
(5) Because the migration of jobs from rural
areas has caused many families to migrate too, the
indications of distress are different for rural than for
urban areas. Specifically, in determining whether a
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rural area is eligible for an enterprise zone, the fac-
tors shall include job loss and out-migration, rather
than just the poverty rate, which is an appropriate
factor for urban areas.
SEC. 15002. AMERICAN CITIZENS ANNUAL REPORT ACT.
(a) SHORT TITLE.—This section may be cited as the
‘‘American Citizens Annual Report Act’’.
(b) FINDINGS AND PURPOSES.—
(1) FINDINGS.—The Congress makes the follow-
ing findings:
(A) Publicly owned corporations provide
shareholders with an annual report on the finan-
cial status of the corporation.
(B) Americans are entitled to an annual re-
port on the financial status of the Federal Gov-
ernment, as all citizens share an interest in the
financial well-being of our Federal Government.
Accurate, consistent, and broadly distributed re-
porting on the Nation’s finances are central to
the conduct of democracy.
(C) Recent Federal budget deficits have re-
sulted in more than a tripling of the Federal
debt. With prospects for enormous Federal budget
deficits for the next several years, the debt is a
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burden that affects the present and future gen-
erations of Americans.
(D) The actual financial performance of the
Federal Government often differs from the budget
by tens, even hundreds, of billions of dollars. For
example, the fiscal year 1991 budget was to re-
sult in a deficit of $63,000,000,000. Instead, the
actual deficit for the year was $268,700,000,000.
(E) The Chief Financial Officers Act is
leading agencies to develop reliable and relevant
financial information that is to be useful to the
public, including audited financial statements.
(F) The Federal Government continues to
lose billions of dollars each year through fraud,
waste, abuse, and mismanagement. Standardized
reporting to the public is essential to the im-
provement of accountability of public programs.
(G) The growing Federal debt is hindering
economic growth and competitiveness, and ulti-
mately, reduces the standard of living of all
Americans.
(2) PURPOSES.—The purposes of this section are
to—
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(A) provide the American taxpayer with an
annual report on the financial status of the Fed-
eral Government;
(B) increase the participation and aware-
ness of the public in finding solutions to the Fed-
eral Government’s budget problems;
(C) require the President, Congressional
leaders, and the chief financial officers of the
Government to report to the public on the well-
being of the Federal Government’s finances as a
part of their fiduciary responsibilities; and
(D) bring a public focus to efforts already
underway that seek to develop and improve fi-
nancial standards, annual reporting, and sys-
tems in the agencies of the Federal Government.
(c) ANNUAL REPORT.—Section 3513 of title 31, United
States Code, is amended by adding at the end thereof the
following:
‘‘(d)(1) The Secretary of the Treasury shall distribute
to all taxpayers described in paragraph (6) an annual re-
port (referred to in this subsection as the ‘annual report’)
containing—
‘‘(A) the most recent 5-year actual trends in
Federal receipts, expenditures, fund balances, assets
and liabilities, and debts by major category or source,
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along with a brief description of those trends for the
most recent year;
‘‘(B) a comparison of the actual Federal spend-
ing and revenues by major category or source for the
most recent fiscal year—
‘‘(i) to the budget request estimates as sub-
mitted by the President for that year; and
‘‘(ii) to the enacted budget,
along with notes explaining differences;
‘‘(C) statements from the President, the Majority
Leader of the Senate, and the Speaker of the House
of Representatives regarding significant aspects of the
Government’s financial performance; and
‘‘(D) any other relevant information on the Gov-
ernment’s performance and contributions to economic
growth, productivity, and investment in infrastruc-
ture recommended for inclusion by the advisory com-
mittee and deemed appropriate by the Director of the
Office of Management and Budget.
‘‘(2)(A) Preparation and content of the annual report
shall be supervised and directed by the Director of the Office
of Management and Budget.
‘‘(B) There is established an advisory committee to
provide the Director of the Office of Management and Budg-
et with comments and suggestions on the design and content
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of the annual report. The advisory committee shall consist
of 9 members as follows:
‘‘(i) 3 members to be appointed by the President.
‘‘(ii) 2 members to be appointed by the Majority
Leader of the Senate.
‘‘(iii) 1 member to be appointed by the Minority
Leader of the Senate.
‘‘(iv) 2 members to be appointed by the Speaker
of the House of Representatives.
‘‘(v) 1 member to be appointed by the Minority
Leader of the House of Representatives.
‘‘(3) The annual report shall contain a statement of
assurance by the Director of the Office of Management and
Budget and an audit opinion the Comptroller General at-
testing to the reliability and relevancy accuracy of the in-
formation contained in the annual report.
‘‘(4) The annual report shall be prepared annually in
a timely fashion after the close of each fiscal year. If the
final annual report for a fiscal year is not available within
3 calendar months after the close of that fiscal year, a pre-
liminary annual report shall be prepared and published
within that period containing substantially all the material
described in subparagraphs (A) and (B) of paragraph (1)
and the final annual report shall be prepared and published
as soon as possible thereafter.
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‘‘(5)(A) In the case of any booklet of instructions for
Form 1040, 1040A, or 1040EZ prepared by the Secretary
for filing individual income tax returns for taxable years
beginning in any calendar year, the Secretary shall include
on the front inside cover of such booklet of instructions (in
addition to the information required in subsection (a) of
section 7523 of the Internal Revenue Code of 1986) a sum-
mary of the annual report prepared by the Director.
‘‘(B) The summary referred to in subparagraph (A)
shall—
‘‘(i) include the cumulative Federal debt at the
end of each of the 10 preceding fiscal years expressed
in total dollars and in dollars per capita;
‘‘(ii) include the Federal deficit for each of the
10 preceding years expressed in total dollars and dol-
lars per capita; and
‘‘(iii) be presented in a manner that is easily
comprehensible to a taxpayer.
‘‘(6)(A) A taxpayer is described in this paragraph if
such taxpayer designates on the form for the return of the
tax imposed by chapter 1 of the Internal Revenue Code of
1986 for any taxable year that such taxpayer desires a copy
of the annual report described in this subsection and, in
cases where a taxpayer requests more than one copy of the
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report, submits a processing fee (if any) as described in
paragraph (7).
‘‘(B) Space shall be made available for the designation
referred to in subparagraph (A) on the first page of the tax
return forms for such tax.
‘‘(7) Notwithstanding any other provision of law, the
Secretary of the Treasury may impose a processing fee or
may accept contributions from corporations, foundations,
and other private entities for distribution or preparation
of the report, or both.’’.
(d) AUTHORIZATION.—For the purpose of carrying out
the provisions of the amendment made by this section, there
are authorized to be appropriated to the Secretary of the
Treasury and the Director of the Office of Management and
Budget $10,000,000 for fiscal year 1994, and such sums as
may be necessary for fiscal years 1995, 1996, 1997 and
1998. These amounts shall include any funds raised through
the authority established in section 3513(d)(7) of title 31,
United States Code, as added by this section.
Attest:
Secretary.
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