S.2418 - Rural Opportunity Communities Act of 1998105th Congress (1997-1998)
|Sponsor:||Sen. Jeffords, James M. [R-VT] (Introduced 07/31/1998)|
|Committees:||Senate - Finance|
|Latest Action:||07/31/1998 Read twice and referred to the Committee on Finance. (All Actions)|
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- Economics and Public Finance
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Summary: S.2418 — 105th Congress (1997-1998)All Bill Information (Except Text)
Introduced in Senate (07/31/1998)
Rural Opportunity Communities Act of 1998 - Amends title XX (Block Grants to States for Social Services) of the Social Security Act (SSA) to entitle each State to Federal grants for: (1) each rural opportunity community in the State designated pursuant to this Act; and (2) each additional qualified empowerment zone in the State designated pursuant to the Taxpayer Relief Act of 1997. Specifies a formula for the amount of each grant, with separate base amounts for empowerment zones in urban or rural areas. Provides funding for the additional grants made available by this Act.
Authorizes the Secretary of Agriculture to designate up to ten rural opportunity communities.
Sets forth the criteria an area must meet to be designated as a rural opportunity community, including that the area must demonstrate economic distress resulting from poverty or certain other factors during the most recent five-year time period.
Amends the Internal Revenue Code to provide that well-performing empowerment zones and enterprise communities: (1) may be given additional points in the designation process; and (2) shall be recognized annually, and their best practices disseminated to other designated empowerment zones and enterprise communities.
Directs the Secretary of Health and Human Services to set aside ten percent of amounts otherwise made available for urban empowerment zones for use by any urban empowerment zone or enterprise community that the Secretary of Housing and Urban Development determines has completed or made satisfactory progress in implementing its approved ten year strategic plan.