HB 2699 - DIGEST

(SUBSTITUTED FOR - SEE 1ST SUB)

     Replaces existing statutory references to neighborhood reinvestment areas with references to community empowerment zones.

     Provides community empowerment zone incentives through tax credits for contributions to the program, tax deferrals for investment projects in distressed areas, tax credits for eligible business projects, and deductions for business loans.

     Creates economic opportunities for at-risk youth.

     Creates the Washington youthbuild assistance program.

     Establishes programs for crime prevention and reduction.

     Provides for community policing assistance.

     Provides homeownership assistance for law enforcement officers.

     Makes appropriations to carry out the purposes of the act.