H.R.2437 - Creating Jobs Through Cooperatives Act113th Congress (2013-2014)
|Sponsor:||Rep. Fattah, Chaka [D-PA-2] (Introduced 06/19/2013)|
|Committees:||House - Financial Services|
|Latest Action:||House - 06/19/2013 Referred to the House Committee on Financial Services. (All Actions)|
This bill has the status Introduced
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Summary: H.R.2437 — 113th Congress (2013-2014)All Information (Except Text)
Introduced in House (06/19/2013)
Creating Jobs Through Cooperatives Act - Directs the Secretary of Housing and Urban Development (HUD) to establish a National Cooperative Development Program to create jobs and increase economic development in eligible project areas by promoting cooperative development.
Defines "eligible project areas" as those located within:
- a census tract defined as low- or moderate-income by the Census Bureau;
- a population census tract treated as a low-income community under the Internal Revenue Code; or
- areas adjacent or close to areas that meet either requirement, and are given special HUD approval to be classified as eligible project areas. (Requires the Secretary to limit the number of funded projects located in these areas.)
Defines "cooperative development" as specified technical assistance for the establishment of cooperative organizations, which are autonomous associations of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly owned and democratically controlled enterprise.
Authorizes the Secretary, through a competitive process, to make one- to -five-year grants to local cooperative development centers.