Community Reinvestment and Recovery Act

Summary

Community Reinvestment and Recovery Act - Directs the Secretary of Defense to establish a program to make grants to assist local communities in recovering from the adverse economic impact of the closure or major realignment of a military installation under a base closure law. Requires a local government, in order to be eligible for such grant, to submit to the Secretary: (1) a comprehensive local economic recovery plan; and (2) an annual report concerning such community's progress in recovering from the effects of such closure or realignment. Provides that the amount of funds available for such grants with respect to the closure or realignment of a military installation shall equal ten percent of the total projected savings by the Department of Defense as a result of such action over the following ten years. Authorizes appropriations.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 28 July 1993

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• Introduced in House (PDF)

  Introduced in House · EN · 28 July 1993

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• Introduced in House

  summary · EN · 28 July 1993

  Open at official source

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