In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.

SECTION 1. SHORT TITLE.

This Act may be cited as the ''Enterprise Communities Enhancement
Act of 2001''.

SEC. 2. FUNDING ENTITLEMENT FOR ADDITIONAL ENTERPRISE COMMUNITIES.

(a) Entitlement.--Section 2007(a)(1) of the Social Security Act (42
U.S.C. 1397f(a)(1)) is amended by striking ''and'' at the end of
subparagraph (A), by striking the period at the end of subparagraph (B)
and inserting ''; and'', and by adding at the end the following:
''(C) 7 grants under this section for each
qualified enterprise community that is in the State and
is designated pursuant to section 766 of the
Agriculture, Rural Development, Food and Drug
Administration, and Related Agencies Appropriations
Act, 1999.''.
(b) Amount of Grants.--Section 2007(a)(2) of such Act (42 U.S.C.
1397f(a)(2)) is amended--
(1) by redesignating subparagraph (C) as subparagraph (D);
and
(2) by inserting after subparagraph (B) the following:
''(C) Additional enterprise community grants.--The
amount of the grant to a State under this section for
each qualified enterprise community referred to in
paragraph (1)(C) shall be $500,000, multiplied by the
proportion of the population of the community that
resides in the State.''.
(c) Timing of Grants.--Section 2007(a)(3) of such Act (42 U.S.C.
1397f(a)(3)) is amended by adding at the end the following:
''(C) Additional qualified enterprise
communities.--With respect to each qualified enterprise
community referred to in paragraph (1)(C), the
Secretary shall make 1 grant under this section to the
State in which the community lies on the first day of
fiscal year 2002 and of each of the 6 succeeding fiscal
years.''.
(d) Funding.--Section 2007(a)(4) of such Act (42 U.S.C.
1397f(a)(4)) is amended--
(1) by striking ''(4) Funding.--$1,000,000,000'' and
inserting the following:
''(4) Funding.--
''(A) Original grants.--$1,000,000,000'';
(2) by inserting ''for empowerment zones and enterprise
communities described in subparagraphs (A) and (B) of paragraph
(1)'' before the period; and
(3) by adding after and below the end the following:
''(B) Additional enterprise community grants.--
$70,000,000 shall be made available to the Secretary
for grants under this section for enterprise
communities referred to in paragraph (1)(C).''.
(e) Definitions.--
(1) Qualified enterprise community.--Section 2007(f)(2)(A)
of such Act (42 U.S.C. 1397f(f)(2)(A)) is amended by inserting
''or pursuant to section 766 of the Agriculture, Rural
Development, Food and Drug Administration, and Related Agencies
Appropriations Act, 1999'' before the semicolon.
(2) Strategic plan.--Section 2007(f)(3) of such Act (42
U.S.C. 1397f(f)(3)) is amended by inserting ''or under section
766 of the Agriculture, Rural Development, Food and Drug
Administration, and Related Agencies Appropriations Act, 1999''
before the period.

SEC. 3. USE OF GRANT FUNDS.

(a) Revolving Loan Activities.--Section 2007(b) of the Social
Security Act (42 U.S.C. 1397f(b)) is amended by adding at the end the
following:
''(5) Revolving loan activities.--
''(A) In general.--In order to assist disadvantaged
adults and youths in achieving and maintaining economic
self-support, a State may use amounts paid under this
section to fund revolving loan funds or similar
arrangements for the purpose of making loans to
residents, institutions, organizations, or businesses
that hire disadvantaged adults and youths.
''(B) Rules for disbursement.--Amounts to be used
as described in subparagraph (A) shall be disbursed by
the Secretary, consistent with the provisions of the
Cash Management Improvement Act and its implementing
rules, regulations, and procedures issued by the
Secretary of the Treasury--
''(i) in the case of a grant to a revolving
loan fund--
''(I) pursuant to a written
irrevocable grant commitment; and
''(II) at such time or times as the
Secretary determines that the funds are
needed to meet the purposes of such
commitment; or
''(ii) in the case of a grant for purposes
of capitalizing an insured depository
institution (as defined in section 3 of the
Federal Deposit Insurance Act (12 U.S.C. 1813))
or an insured credit union (as defined in
section 101 of the Federal Credit Union Act (12
U.S.C. 1742)), at such time or times as the
Secretary determines that funds are needed for
such capitalization.''.
Enterprise Communities Enhancement Act of 2001 - Amends title XX (Block Grants to States for Social Services) of the Social Security Act to provide for: (1) additional State entitlements to grants for designated qualified enterprise communities; (2) funding for such grants; and (3) use of grant funds for revolving loan fund loans to residents, institutions, organizations, or businesses that hire disadvantaged adults and youths.