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The Entrepreneurial Free Agent and Dejobbed Small Business R&D Lab
Support U.S. Urban and Rural EZ/EC Communities
The 'EC Inclusion' Amendment Needs Your Active Support
Help Improve the "American Community Renewal and New Markets Empowerment Act"

[ EZ/EC home ] [ An Open Letter to Congress ] [ Press release ] [ Sample letter ] [ Text letter for email use ] [ Alternate text letter ]

The Forgotten Ones?...
• Accomack and Northampton Co. EC
• Akron, Ohio EC
• Albany, GA EC
• Albany, Schenectady and Troy NY EC
• Albuquerque, NM EC
• Allendale Co. ALIVE EC
• Arizona Border Region Rural EC
• Beadle/Spink SD EC
• Birmingham, Alabama EC
• Bowling Green EC
• Bridgeport, CT EC
• Buffalo, NY EC
• Burlington, VT EC
• Central California EC
• Central Savannah River Rural EC
• Chambers Co. Rural EC
• Charleston, SC EC
• Charlotte, NC EC
• City of Deming EC
• City of East Prairie, Miss. Co. Rural EC
• City of Lewiston EC
• City of Lock Haven Federal EC
• City of Wastsonville / Co. of Santa Cruz EC
• Clare Co. EC
• Clark Co. / Las Vegas, NV EC
• Clinch-Powell EC
• Dallas, TX EC
• Denver, Colorado EC
• Des Moines, IA EC
• East Arkansas Rural EC
• East St. Louis EC
• El Paso, TX EC
• Fayette Co. / Haywood Co. Rural EC
• Fayette EC
• Five Star EC
• Flint, MI EC
• Fort Peck Assiniboine and Sioux Tribe EC
• Four Corners EC
• Greater Portsmouth EC
• Greene and Sumter Counties Rural EC
• Harrisburg, Pennsylvania EC
• Houston, Texas Enhanced EC
• Imperial Co. Rural EC
• Indianapolis, IN EC
• Jackson Co. Rural EC
• Jackson, MS EC
• Josephine Co. EC
• Kansas City, KS / Kansas City, MO
• La Jicarita EC
• Lake Co. Rural EC
• Los Angeles, CA EC
• Louisville, KY EC
• Lowell, MA EC
• Lower Yakima Co. Rural EC
• Macon Ridge EC
• Manchester, NH EC
• McDowell Co. EC
• Memphis, TN EC
• Metlakatla Indian EC
• Milwaukee, WI EC
• Minneapolis, MN EC
• Mississippi Co. Rural EC
• Molokai EC
• Muskegon, MI EC
• Nashville, TN EC
• New Orleans, LA EC
• Newark, New Jersey EC
• Newburgh / Kingston, NY EC
• Norfolk, VA EC
• N Delta Mississippi Rural EC
• NE Louisiana Delta Rural EC
• Northwoods NJ EC
• Oakland, CA EEC
• Ogden, UT EC
• Oklahoma City, OK EC
• Omaha, NE EC
• Ouachita Parish, LA EC
• Phoenix, AZ EC
• Pittsburgh, PA EC
• Portland, OR EC
• Providence, RI EC
• Pulaski Co. / Little Rock, AR EC
• Robeson Co., NC EC
• Rochester, NY EC
• San Antonio, TX EC
• San Diego, CA EC
• San Francisco, CA EC
• Scott/McCreary Area Rural EC
• Seattle, WA EC
• Southeast Oklahoma EC
• Springfield, IL EC
• Springfield, MA EC
• St. Louis, MO EC
• St. Paul, MN EC
• Tacoma, WA EC
• Tampa, Florida EC
• The HEW Alliance, NC EC
• The Town of Austin EC
• Tri-Co. Indian Nations EC
• Upper Kanawha Valley EC
• Waco, TX EC
• Wichita Co. EC
• Williamsburg-Lake City EC
• Wilmington, DE EC

23 September 2000
The 'EC Inclusion' Amendment to the 'Amercian Community Renewal and New Markets Empowerment Act'
by Jim Schneider
James E. Schneider, LL.M. Incorporated

The 10-year total projected cost of the 'EC Inclusion Amendment' to the "Amercian Community Renewal and New Markets Empowerment Act" that we have proposed and are promoting among the leading EC activists is only about $200M. When you consider this total cost to that of the billions of dollars of 'pork' that is trying to make it into the Community Renewal bill, you have to wonder who's locked up the 'thinking caps' in our nation's capitol. I'd sure like to find THAT key!

The 'EC Inclusion' Amendment is as follows:

  1. All ECs will get the IRC Section 1397b rollover and 1202 exclusion, or zero capital gains, as is now proposed for Empowerment Zones, from enactment date;

  2. All ECs will get increased [$15m from $3m] Tax Exempt Facilities Bonds per Enterprise Zone business, as is now the case for Washington, D.C., subject to the state private activity [if an EC becomes a Renewal Community then it gives up these benefits for Renewal Community benefits]; and

  3. All ECs are extended from 2004 to 2009, as now proposed for Empowerment Zones and Renewal Communities.

As to the choice of the rollover, after one-year, and 60% exclusion after five vs. the 100% capital gains exclusion after five years, I (Jim Schneider) will defer to better minds then mine. (That's Jim's modesty for you!)

But if you want more instant bang for the buck, then the one-year holding period [rollover] has more excitement for High Tech New Economy companies, and having the reinvestment incentive is a plus, in my opinion, from the Enterprise Community's point of view. [IRC Sections 1045 and 1031 have done wonders to the venture capital and real estate markets, I rest my case.]

-- Jim Schneider --
San Diego, California

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