AN ACT
To assist impoverished Atlasians and secure a better future for our posterity.
Be it enacted by the Senate and House of Representatives of the Republic of Atlasia in Congress assembled,
Section I. Titlei. The long title of this bill shall be the "Urban Investment and Redevelopment Act."
Section II. Definitionsi. Urban area is defined as a MSA (Metropolitan Statistical Area) with over 500,000 residents as of the most recently completed Census.
ii. Underperforming public schools are defined as publicly funded schools in the bottom twentieth percentile, as defined by the state they are located in.
Section III. Creation of Urban Economic Action Districtsi. Regional and local governments may apply to the Department of Housing and Urban Development for urban areas or designated portions of urban areas to be designated as Urban Economic Action District (UEAD).
a. For an area to be designated a UEAD, the median household income must be below the national median household income, and the percentage of households receiving federal assistance such as SNAP (Supplemental nutrition Assistance Program) must exceed 20%.
b. Once designated, a UEAD retains its status for five years.
c. A UEAD may be renewed if it still meets the requirements after five years, however The Department of Housing and Urban Development shall launch an inquiry to determine why renewal was necessary.
ii. The Department of Housing and Urban Development shall work with financial institutions to create loan programs to benefit UEADs.
Section IV. Programs for Urban Economic Action Districtsi. Businesses that open new locations within UEADs shall receive a 3% federal corporate tax rebate, exclusive to the UEAD, for the new location for up to three tax years.
ii. Small businesses within UEADs owned by residents of the UEAD are eligible to apply to receive a 5% reduction in federal income tax for up to three tax years.
iii. Businesses receiving the aforementioned tax incentives shall also be exempt from employer-paid payroll taxes on new hires that are residents of the UEAD for up to one tax year.
Section V. Food Desert Prevention Program for Healthy Kidsi. Full-service grocery stores within UEADs can offer a 25% reduction to SNAP and WIC (Women, Infants, and Children) beneficiaries to be reimbursed by the federal government.
ii. A package of pots, pans, utensils, measuring cups, and a cookbook will be offered to all SNAP and WIC beneficiaries.
a. The Department of Agriculture will sponsor cooking classes in UEADs every two months.
Section VI. Deconstruction of Blighted Areasi. UEADs may apply for grant funds to be used for the purpose of deconstructing and rebuilding blighted areas, with the consent of current residents of the affected blighted areas.
a. UEADs may apply for grant funds to create public parks and housing developments in formerly blighted areas.
ii. All uses of grant funds shall be subject to Department of Housing and Urban Development oversight.
Section VII. Public School Improvementsi. Underperforming public schools can offer up to 33% higher pay to new teacher hires to be covered by the federal government.
a. The 33% shall apply to the standard starting salary for the school district at the time of the UEAD designation.
ii. Underperforming public schools more than twenty years old may apply for grant funds for school improvements.
a. Grant funds may be used for classroom remodels, new equipment, or other maintenance or improvements.
b. All uses of grant funds shall be subject to Department of Education oversight.
Section VIII. Appropriationsi. $200 billion of initial funding is provided to the Department of Housing and Urban Development.
ii. $150 billion of initial funding is provided to the Department of Agriculture.
iii. $40 billion of initial funding is provided to the Department of Education.
iv. Additional funding can be allocated upon request, at Congress' discretion.
By a vote of 8-0-0-1, this bill passes the House.
