H.R. 3956 · 113th Congress
Community Investment and Empowerment Act
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
KellySponsor1 cosponsor · 1 D
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Authorizes the Administrator to only make such a grant to communities: (1) whose demographics include a median per capita income no higher than $35,000 and a lack of Class 1 commercial investment; (2) that submit an application that describes the activities the community carries out, and the difficulty the community has faced, to recruit, retain and grow…
What it does: CRS summary · Introduced in House · Jan 28, 2014
- the creation of a grant and/or revolving loan fund program that helps develop financing packages for Class 1 commercial investment (defined as retail grocery chains, food service retailers, restaurants and franchises, retail stores, cafes, shopping malls, and other shops);
- lowering real estate property tax rates;
- conducting community-wide market analysis to help recruit and/or retain Class 1 commercial investment;
- creating employment training programs for Class 1 business customer service, sales, and managerial positions;
- retail marketing strategies to solicit new Class 1 commercial investment starts in the community;
- program allowances for activities such as the publication of marketing materials, development of economic development web pages, and educational outreach activities with retail trade associations; and
- hiring business recruitment specialists.
Authorizes the Administrator to only make such a grant to communities: (1) whose demographics include a median per capita income no higher than $35,000 and a lack of Class 1 commercial investment; (2) that submit an application that describes the activities the community carries out, and the difficulty the community has faced, to recruit, retain and grow their economy through Class 1 commercial investment; and (3) that agree to match 10% of grant funds with certain non-federal contributions. Allows the Administrator to waive or reduce the non-federal contribution if the community involved demonstrates that it cannot meet the contribution requirement due to financial hardship.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Community Investment and Empowerment Act
Latest action (Jan 28, 2014): Referred to the House Committee on Small Business.
Policy area: Commerce · Origin: House · Introduced: Jan 28, 2014
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.