Community Investment and Empowerment Act

Summary

Community Investment and Empowerment Act - Amends the Small Business Investment Act of 1958 to authorize the Administrator of the Small Business Administration (SBA) to make grants on a competitive basis to communities for: 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.

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Timeline

1. 28 January 2014

   Introduced

   Referred to the House Committee on Small Business.

   Source: IntroReferral

2. 28 January 2014

   Introduced

   Introduced in House

   Source: IntroReferral

3. 28 January 2014

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 28 January 2014 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 28 January 2014

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 28 January 2014

  ViewDownloadOpen at official source

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  Vertaal document

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• Introduced in House

  summary · EN · 28 January 2014

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Kelly, Robin L. [D-IL-2] · D · Sponsor
• Rep. Enyart, William L. [D-IL-12] · D · Cosponsor
• · hssm00 · Standing

Related records

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