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S.1565 Section by Section

S.1565 Section by Section

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CCUSA National Opportunity and Community Renewal Act By Section
CCUSA National Opportunity and Community Renewal Act By Section

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Published by: Catholic Charities USA on Jul 23, 2014
Copyright:Traditional Copyright: All rights reserved


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Section 1. Short Title; Table of Contents. G
 Section 2. Findings.
Across the United States, 43.6 million Americans are living in poverty, including nearly 15.5 million children.
Section 3. Purposes.
This section outlines a new and innovative policy that incorporates 21
 century ideas that confront and resolve some of the most intractable issues associated with poverty in America.
Section 4. Definitions. T
 Section 101. National Opportunity Board.
This section establishes a bipartisan, independent National Opportunity Board that consists of seven Board members appointed by the Majority and Minority parties of the Senate and House of Representatives and the Office of the President. If possible, these appointed members should have experience working with non-profit organizations, the poverty advocacy community, and philanthropy. There are also seven ex-officio members from selected branches of the Administration. This section also details the duties of the National Opportunity Board which include, (1) designing a criteria for the National Competition for Community Renewal, (2) providing rulemaking authority for said Competition, (3) administering the Competition, (4) outlining rules for program evaluation within the Competition, and (5) establishing eligible areas within the Competition using the Human Development Index and the Supplemental Poverty Measurement. It also establishes an Ombudsman Office to handle issues that may arise in the formulation of the Local Opportunity Boards and describes the grievance process associated this office. This section authorizes an appropriation in the amount of $13,500,000 over six years.
Section 102. Local Opportunity Boards.
This section allows for a chief elected official of an eligible area to establish a Local Opportunity Board. This Board is composed of five members that are appointed by the chief elected official, and includes representatives of the state government, non-elected community leaders and heads of agencies for various social programs. This Local Opportunity Board has the authority to draft a Local Opportunity Plan that details the coordination of federal, state, and local assistance programs and how the Board would modify existing programs to create new programs with a focus on the local consumer. This Board would be required to submit periodic reports to the National Opportunity Board. In addition, the qualified area and the Local Opportunity Boards would be eligible for community services provided pursuant to the National and Community Service Act of 1990.
 Sec. 201: Establishment
This section establishes the National Competition for Community Renewal as developed  by the National Opportunity Board. This competition will award grant funding, targeted waivers, and tax incentives to 10 Local Opportunity Boards, which will be used to implement the Local Opportunity Plans.
Sec. 202: Duration
This section specifies that the National Competition for Community Renewal shall begin no later than one year after the date of enactment and exist for a period of five years.
Sec. 203: Local Opportunity Funds
This section requires the Local Opportunity Boards to establish a Local Opportunity Fund, which will manage (1) the grant award from the National Opportunity Board and all required matching funds and, (2) funds available from collapsing the federal programs including Head Start, Community Service Block Grants, Low Income Home Energy Saving Program, Supplemental Nutritional Assistance Program, Weatherization Assistance for Low-Income Persons Program, Job Corps, Temporary Assistance to Needy Families and the Workforce Investment Act. The funds may be used for various poverty prevention activities. Further, this section gives the local official who administers the funds with the fiduciary responsibility and all local boards must follow accounting regulations as determined by the  National Opportunity Board.
Sec. 204: Waiver Programs
This section requires the National Opportunity Board establish regulations for waivers  based on the programs that are being collapsed. These programs are Head Start, Community Service Block Grants, Low Income Home Energy Saving Program, Supplemental Nutritional Assistance Program, and Weatherization Assistance for Low-Income Persons Program, Job Corps, Temporary Assistance to Needy Families and the Workforce Investment Act. The amount of funding received by a person under the new waiver program shall be no less than what they would have received under any of the previous programs.
Sec. 205: Tax Incentives
This section allows for eligible areas that are selected to participate in the National Competition for Community Renewal to receive targeted tax incentives.
Sec. 206: Applications and Administration
This section notes that three rural areas and one county where there is a qualified military instillation must be selected as grant recipients. In addition, this section allows the National Opportunity Board to give preference to eligible areas that include a specific set of design  principles: (1) basing poverty reduction and prevention services on the Human Development Index, (2) a model of poverty reduction and prevention that includes varying levels of services depending on the needs of the individual, (3) the creation of Individualized Opportunity Plans that assess an individual
 needs and assets based on a multidisciplinary analysis that includes a description of measurable results and outcomes, (4) intense client advocacy and, (5) detailed evaluation practices.
 Section 301. Community Renewal Savings.
This section requires each Local Opportunity Board to develop and implement a method for calculating Community Renewal Savings by taking into consideration increased income by  participants of the program and the cost to run the programs. Further, this section provides for the monetization and securing of savings from the  poverty prevention programs and uses the saved capital for program expansion and deficit reduction.
Section 302. Community Tax Incentives.
This section identifies 25% of the Community Renewal Savings shall be allocated to five specific Community Tax Incentives (see Sections 403-408).
Section 303. Renewal Employer Refundable Credit.
This section allows for Qualified Opportunity Employers to receive a $3,000 tax credit if they hire and/or retain workers that fit into criteria that have been determined to have a meaningful impact on the local economy.
Section 304. Unrelated Business Taxable Income Deduction.
This section allows for Qualified Opportunity Organizations, defined as a 501(c)(3) and designated by the Local Opportunity Board to be a recipient, to take a 25% tax deduction on services provided in a local economy.
Section 305. Qualified Community Renewal Contribution.
This section provides for individuals and corporations who donate to a Qualified Opportunity Organization to take a charitable donation deduction equal to 120% of the donation during that tax year.
Section 306. High School Graduation Tax Credit.
This section allows for an individual who graduates from a Qualified Opportunity School, identified as a secondary school in an eligible area, to receive a $500 tax credit.
Section 307. Modified New Markets Tax Credit.
This section allows for the expansion of the Community Development Financial Institutions (CDFI) in the eligible areas.
Section 308. Earned Income Tax Credit.
This section allows for the Local Opportunity Board to modify the eligibility or  percentage requirements for the EITC in the eligible area, which shall be evaluated by the  National Opportunity Board and approved by Congress.
Section 309. Community Renewal Bonds.
This section grants the Local Opportunity Board the authority to issue Renewal Opportunity Bonds to assist with the financing of the Community Renewal programs. These  bonds will have a maturity date of seven years.

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