ADVISORY
FROM THE COMMITTEE ON WAYS AND MEANS

Subcommittee on Oversight

Houghton Announces Hearing on Tax Incentives for Renewal Communities 

Congressman Amo Houghton (R-NY), Chairman, Subcommittee on Oversight of the Committee on Ways and Means, today announced that the Subcommittee will hold a hearing on the tax relief incentives of Renewal Communities.  The hearing will take place on Tuesday, May 21, 2002, in 1100 Longworth House Office Building, beginning at 2:00 p.m.

In view of the limited time available to hear witnesses, oral testimony at this hearing will be from invited witnesses only.  However, any individual or organization not scheduled for an oral appearance may submit a written statement for consideration by the Committee and for inclusion in the printed record of the hearing.

BACKGROUND:

 Renewal Communities represent a major new economic development initiative designed to attract businesses and investment to distressed urban and rural areas across the Nation.  The concept was originally proposed in “The Community Renewal Act of 1996” and became law in December 2000 (P.L. 106-554).  In January 2002, 40 competitively selected communities – 28 urban and 12 rural – received Renewal Community designations accompanied by incentives to encourage business investment and the creation of jobs in these areas.

In order to assist Renewal Communities, as well as the Nation’s 40 Empowerment Zones who also received new incentives as a result of this legislation, the U.S. Department of Housing and Urban Development is hosting a Community Renewal Implementation Conference in Washington, D.C., from May 19 to 23, 2002.  The purpose of the conference is to equip community leaders with the necessary tools to attract businesses and investment to their communities, and successfully achieve revitalization.  As Renewal Communities begin this process, Congress will review this program through the objectives of these communities.

In announcing the hearing, Chairman Houghton stated:  “These Renewal Communities are important.  In a word, they help.  They help distressed urban and rural areas achieve real renewal.  So as we revitalize these communities, it creates an environment where individuals can lift themselves and their families to a new level of security.”

FOCUS OF THE HEARING:

The hearing will focus on how the newly designated Renewal Communities plan to use available incentives to attract business investment to their communities, and highlight potentially useful models from Empowerment Zone activities.

DETAILS FOR SUBMISSION OF WRITTEN COMMENTS:

Please Note:  Due to the change in House mail policy, any person or organization wishing to submit a written statement for the printed record of the hearing should send it electronically to hearingclerks.waysandmeans@mail.house.gov, along with a fax copy to (202) 225-2610, by the close of business, Tuesday, June 4, 2002.  Those filing written statements who wish to have their statements distributed to the press and interested public at the hearing should deliver their 200 copies to the Subcommittee on Oversight in room 1136 Longworth House Office Building, in an open and searchable package 48 hours before the hearing.  The U.S. Capitol Police will refuse sealed-packaged deliveries to all House Office Buildings.

FORMATTING REQUIREMENTS:

Each statement presented for printing to the Committee by a witness, any written statement or exhibit submitted for the printed record or any written comments in response to a request for written comments must conform to the guidelines listed below.  Any statement or exhibit not in compliance with these guidelines will not be printed, but will be maintained in the Committee files for review and use by the Committee.

1.   Due to the change in House mail policy, all statements and any accompanying exhibits for printing must be submitted electronically to hearingclerks.waysandmeans@mail.house.gov, along with a fax copy to (202) 225-2610, in Word Perfect or MS Word format and MUST NOT exceed a total of 10 pages including attachments.  Witnesses are advised that the Committee will rely on electronic submissions for printing the official hearing record.

2.  Copies of whole documents submitted as exhibit material will not be accepted for printing.  Instead, exhibit material should be referenced and quoted or paraphrased.  All exhibit material not meeting these specifications will be maintained in the Committee files for review and use by the Committee.

3.  Any statements must include a list of all clients, persons, or organizations on whose behalf the witness appears.  A supplemental sheet must accompany each statement listing the name, company, address, telephone and fax numbers of each witness.

Note:  All Committee advisories and news releases are available on the World Wide Web at http://waysandmeans.house.gov.

The Committee seeks to make its facilities accessible to persons with disabilities. If you are in need of special accommodations, please call (202) 225-1721 or (202) 226-3411 TTD/TTY in advance of the event (four business days notice is requested). Questions with regard to special accommodation needs in general (including availability of Committee materials in alternative formats) may be directed to the Committee as noted above.