National Opportunity and Community Renewal Act

Bill: 112-s-1565
Sponsor: Sen. Casey, Robert P., Jr. [D-PA]
Introduced: 2011-09-15 in the Senate
Policy area: Social Welfare
Subjects: Administrative law and regulatory procedures
Administrative remedies
Budget deficits and national debt
Computers and information technology
Congressional oversight
Education programs funding
Elementary and secondary education
Employment and training programs
Energy assistance for the poor and aged
Executive agency funding and structure
Financial services and investments
Food assistance and relief
Government studies and investigations
Government trust funds
Homelessness and emergency shelter
Housing and community development funding
Housing finance and home ownership
Housing for the elderly and disabled
Income tax credits
Income tax deductions
Income tax exclusion
Income tax rates
Intergovernmental relations
National and community service
Poverty and welfare assistance
Preschool education
Residential rehabilitation and home repair
Securities
Social work, volunteer service, charitable organizations
State and local finance
State and local government operations
Tax-exempt organizations
Vocational and technical education

Summary:
action_date: 2011-09-15
text: 
National Opportunity and Community Renewal Act - Establishes a bipartisan, independent National Opportunity Board (NOB) to administer the National Competition for Community Renewal.
 
Requires the NOB to: (1) establish an Office of Ombudsman to receive and render assistance with respect to individual complaints, grievances, and requests for information about any program or requirement under this Act; and (2) develop model grievance procedures that may be implemented by the Local Opportunity Boards (LOBs).
 
Requires the chief elected official of an eligible area, to be eligible to receive assistance, waivers, and tax incentives under this Act, to establish an LOB to submit to the NOB a detailed Local Opportunity Plan for spending any funds approved under the National Competition.
 
Directs the NOB to develop guidelines for establishment of a five-year National Competition for Community Renewal for the award of qualified area status, assistance, targeted waivers, and targeted tax incentives.
 
Requires the LOB for a qualified area to establish a local opportunity fund. Limits the use of assistance from such a fund to specified poverty prevention activities.
 
Requires the NOB to develop guidelines for establishment of individual opportunity plans consisting of: (1) an assessment of an individual's unique strengths and needs and identification of services appropriate to meet such needs, and (2) a written individualized opportunity plan developed by a multidisciplinary team.
 
Requires each LOB to implement a method to calculate the present dollar value of the total federal and state funds saved by the LOB (community renewal savings) for individuals successfully assisted through its Local Opportunity Plan. 
 
Requires allocation of community renewal savings for public deficit reduction, certain community tax incentives, and funding and expansion of programs and services.
 
Allows a current business federal income tax credit under the Internal Revenue Code of $3,000 with respect to each retained worker, meeting certain criteria, who is employed by a qualified opportunity employer. 
 
Allows during the program period: (1) an unrelated business deduction from taxable income of 25% for any community renewal expenditure, (2) a charitable deduction of 120% of any qualified community renewal contribution, (3) a high school graduation tax credit of $500, and (4) treatment of a qualified area under this Act as a low-income community for new markets tax credit and earned income tax credit purposes.
 
Increases the charitable contribution deduction limitation.
 
Authorizes the NOB, acting through the LOBs, to act on behalf of the Secretary of the Treasury to issue and sell community renewal bonds in face value increments of $100 up to a maximum amount of $50 million, with a coupon rate of 25%, to assist the financing of Local Opportunity Plans.
 
Makes it unlawful for any person to: (1) claim a community renewal incentive who does not meet specified requirements, and (2) use funds appropriated under this Act for any purpose for which they were not authorized. 
Authorizes the NOB to establish: (1) a program to award competitive $5 million grants for development of a client advocacy and consumer services technology platform, and (2) a separate program to award competitive $5 million grants for development of a social services evaluation method. 
Requires the NOB to ensure that the community renewal savings realized under this Act exceed the appropriations authorized in this Act. (Thus requires a deficit neutral effect on such appropriations.)

Legislative actions:
action_date: 2011-09-15
text: Read twice and referred to the Committee on Finance.
action_date: 2011-09-15
text: Sponsor introductory remarks on measure. (CR S5687-5688)
action_date: 2011-09-15
text: Introduced in Senate