Home > 106th Congressional Bills > S. 1134 (pcs) To amend the Internal Revenue Code of 1986 to allow tax-free [Placed on Calendar Senate] ...

S. 1134 (pcs) To amend the Internal Revenue Code of 1986 to allow tax-free [Placed on Calendar Senate] ...


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Development Act of 1965 (42 U.S.C. 3171 et seq.) (as amended by section 
603(a)) is amended by adding at the end the following:

``SEC. 612. SAVINGS CLAUSE.

    ``To the extent that any portion of grants made under this Act are 
used for an economic development project that involves remediation, the 
remediation shall be conducted in compliance with all applicable 
Federal, State, and local laws and standards.''.
    (b) Conforming Amendment.--The table of contents contained in 
section 1(b) of the Public Works and Economic Development Act of 1965 
(42 U.S.C. 3121 note) is amended by inserting after the item relating 
to section 611 (as added by section 603(b)) the following:

        ``Sec. 612. Savings clause.''.

SEC. 605. SENSE OF CONGRESS REGARDING ECONOMIC DEVELOPMENT 
              REPRESENTATIVES.

    (a) Findings.--Congress finds that--
            (1) planning and coordination among Federal agencies, State 
        and local governments, Indian tribes, and economic development 
        districts is vital to the success of an economic development 
        program;
            (2) economic development representatives of the Economic 
        Development Administration provide distressed communities with 
        the technical assistance necessary to foster this planning and 
        coordination; and
            (3) in the 5 years preceding the date of enactment of this 
        Act, the number of economic development representatives has 
        declined by almost 25 percent.
    (b) Sense of Congress.--It is the sense of Congress that the 
Secretary should maintain a sufficient number of economic development 
representatives to ensure that the Economic Development Administration 
is able to provide effective assistance to distressed communities and 
foster economic growth and development among the States.

                           TITLE VII--FUNDING

SEC. 701. AUTHORIZATION OF APPROPRIATIONS.

    Section 701 of the Public Works and Economic Development Act of 
1965 (42 U.S.C. 3231) is amended to read as follows:

``SEC. 701. GENERAL AUTHORIZATION OF APPROPRIATIONS.

    ``(a) Economic Development Assistance Programs.--There are 
authorized to be appropriated for economic development assistance 
programs to carry out this Act, to remain available until expended--
            ``(1) $400,000,000 for fiscal year 2004;
            ``(2) $425,000,000 for fiscal year 2005;
            ``(3) $450,000,000 for fiscal year 2006;
            ``(4) $475,000,000 for fiscal year 2007; and
            ``(5) $500,000,000 for fiscal year 2008.''
    ``(b) Salaries and Expenses.--There are authorized to be 
appropriated for salaries and expenses of administering this Act, to 
remain available until expended--
            ``(1) $33,377,000 for fiscal year 2004; and
            ``(2) such sums as are necessary for each fiscal year 
        thereafter.''.

SEC. 702. FUNDING FOR GRANTS FOR PLANNING AND GRANTS FOR ADMINISTRATIVE 
              EXPENSES.

    (a) In General.--Title VII of the Public Works and Economic 
Development Act of 1965 (42 U.S.C. 3231 et seq.) is amended by adding 
at the end the following:

``SEC. 704. FUNDING FOR GRANTS FOR PLANNING AND GRANTS FOR 
              ADMINISTRATIVE EXPENSES.

    ``Of the amounts made available under section 701 for each fiscal 
year, not less than $27,000,000 shall be made available for grants 
provided under section 203.''.
    (b) Conforming Amendment.--The table of contents contained in 
section 1(b) of the Public Works and Economic Development Act of 1965 
(42 U.S.C. 3121 note) is amended by inserting after the item relating 
to section 703 the following:

        ``Sec. 704. Funding for grants for planning and grants for 
                            administrative expenses''.

            Passed the Senate October 6, 2004.

            Attest:

                                                             Secretary.
108th CONGRESS

  2d Session

                                S. 1134

_______________________________________________________________________

                                 AN ACT

 To reauthorize and improve the program authorized by the Public Works 
                 and Economic Development Act of 1965.

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