Suburban Core Opportunity, Restoration, and Enhancement (SCORE) Act of 2005

Bill: 109-hr-2347
Sponsor: Rep. King, Peter T. [R-NY-3]
Introduced: 2005-05-12 in the House
Policy area: Housing and Community Development
Subjects: Affordable housing
Agriculture and Food
Architecture
Arts, Culture, Religion
Auditing
Block grants
Citizen participation
Commemorations
Commerce
Community development
Construction costs
Corporation taxes
Depreciation and amortization
Depressed areas
Economic development
Economics and Public Finance
Environmental Protection
Farm lands
Federal aid to housing
Finance and Financial Sector
Financial statements
Government Operations and Politics
Government paperwork
Government publicity
Grants-in-aid
Historic sites
Housing finance
Income tax
Industrial buildings
Infrastructure
Job creation
Labor and Employment
Land transfers
Local finance
Local laws
Marketing
Mass rapid transit
Metropolitan areas
Minimum tax
Nature conservation
Open space lands
Parks
Pedestrians
Property tax
Public Lands and Natural Resources
Public meetings
Real estate appraisal
Real estate development
Recreation areas
Recruiting of employees
Retail trade
Shopping centers
Sports and Recreation
Strategic planning
Streets
Suburbs
Tax credits
Tax deductions
Taxation
Transportation and Public Works
Urban planning

Summary:
action_date: 2005-05-12
text: 
Suburban Core Opportunity, Restoration, and Enhancement (SCORE) Act of 2005 - Defines &quot;SCORE project area&quot; as any area that: (1) is ineligible for renewal community designation under the Internal Revenue Code (the Code); (2) is not smaller than a census-designated place; and (3) includes some of the following, proximity to existing development and infrastructure (including mass transit), substandard or underutilized residential, commercial, and industrial properties, or an economically obsolescent regional mall (Greyfield mall), has an average housing cost-burden of at least 50 percent of gross income, or a 30 percent higher than average commercial vacancy rate.
 
Authorizes the Secretary of Housing and Urban Development (HUD) to: (1) designate SCORE project areas from among local government entity-designated areas; (2) make SCORE project area planning and revitalization grants. Requires a local government grantee to establish a SCORE Reinvestment Fund.
 
Sets forth provisions respecting housing units, businesses, and economic development projects in SCORE project areas that are receiving community development block grant funds.
 
Amends the Code to: (1) include SCORE project areas within the work opportunity tax credit; and (2) permit an additional first-year depreciation amount for certain SCORE project area residential real property or residential rental property.


Legislative actions:
action_date: 2005-06-03
text: Referred to the Subcommittee on Housing and Community Opportunity.
action_date: 2005-05-12
text: Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, 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.
action_date: 2005-05-12
text: Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, 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.
action_date: 2005-05-12
text: Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, 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.
action_date: 2005-05-12
text: Introduced in House
action_date: 2005-05-12
text: Introduced in House