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Support U.S. Urban and Rural EZ/EC Communities
Enterprise Communities and Business Development Tax Incentives
Help Improve the "American Community Renewal and New Markets Empowerment Act"
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Latest CI News
26 Oct 00 - She sang a sour note... - If the mammouth 286-page PDF version of the Tax Relief Act of 2000 can be likened to the proverbial Fat Lady... well, she sang a sour note for the 115 Enterprise Communities left out of the business development tax incentives which made it through this year's annual Pork-Fest on Capitol Hill. Thanks go to Jim Schneider and Gene Gaines for their tireless efforts to inform legislators about this critical situation and to correct this 'unfortunate oversight' in the tax relief legislation.
We gave it our all. Next time we'll be better, stronger and more prepared to fight for the programs and policies which stimulate rather than thwart the rise of the Entrepreneurial Spirit in our local rural and urban neighborhoods.
Tomorrow will be a better day! Thanks to all who sent faxes, button-holed Senators and otherwise lent a hand to this important effort. Certainly many more legislators are now more sensitive to our cause and community than they were before this organizing effort began. Thank you, all. And a special thank you to Jim Schneider and Gene Gaines.
18 Oct 00 - We ain't dead, yet! - It looks like the Renewal and New Markets bill will make it out of the Senate Finance Committee by the end of this week.
Tireless advocates Gene Gaines, Nevada's Brad Rothermel and Jim Schneider indicate that, to quote Gene, "Thanks to the fine work of Legislative Director Anita Horn in Senator Reid's office (D, NV), and with the help of a few other people friendly to Enterprise Communities on both sides of the aisle, we're making some progress!"
Let's all keep our fingers crossed as we dial our phones sending faxes to our Senators who can help influence this important legislation.
11 Oct 00 - Rural Lewiston Maine's Exec Director recognized for her 'EC Inclusion' efforts - Empower Lewiston's Carole Ansheles was recently recognized by her state's Senators for helping educate them about the issue and, in the word's of one Senator's office "to put this issue on the map of a lot of [EC] communities and Senators...". Way to go Carole. Keep up the good work!
10 Oct 00 - Here's the latest from the Hill... - Check out today's issue of Jim Schneider's 'The Taxman86 Speaks... newsletter for the full (unabashed) low-down on the ever-winding tale of the forgotten Enterprise Communities.
08 Oct 00 - Still waiting, still hoping... - We're not able to determine just what's in and what's out of the 'Community Renewal and New Markets' bill as we approach the end of this Congressional session... but one thing is for sure, not even the New York Times thinks that urban and rural economic development are 'newsworthy' during these waning hours of the session.
30 Sept 00 - Hey, Senate Finance Committee! If you're listening... - Revisit Gene Gaine's moving plea to include Enterprise Communities in business development tax incentives of the 'Community Renewal and New Markets' bill. Next, take a second look at Jim Schneider's 'EC Inclusion Amendment' proposal. Then, on behalf of the 115 Enterprise Communities that need your support, won't one of you Senators on the Finance Committee sponsor this amendment? Thank you.
28 Sept 00 - Pork rules, Enterprise Communities are forgotten! The good news, if we can find any in this, is that the markup of the 'Community Renewal and New Markets' bill was postponed. The bad news is that the latest proposed revision is full of extraneous amendments for everything but helping the 115 existing Enterprise Communities with tax incentives for business delopment!?
27 Sept 00 - Senator Nickles to introduce 'EC Inclusion Amendment' with biparisan support! - Jim Schneider and Gene Gaines report that Senator Don Nickles (R. OK) will be introducing the $200M 'EC Inclusion amendment' on behalf of Enterprise Communities, and that there is support from Senators Robb (D. VA), Baucus (D. MT) and others. Go, Change Insurgents, Jim and Gene, go!
26 Sept 00 - NYT article an eye-opener and tear-jerker - Gene Gaines writes, "I am so very sad. And angry. Too often, I see a Congress that listens to the powerful. Too often, I see that it does not listen to those in need. This story, 'Forget Washington. The Poor Cope Alone', from September 26th edition of The New York Times On the Web cries out for reading and reflection."
The 'Community Renewal and New Markets Act' is scheduled to hit the floor of the Senate Finance Committee this Wednesday. There is still time to add your voice to the choir. Fax your Senators and tell them, "We want private investment incentives in the Real World of our rural and urban communities not yet touched by the New Economy."
25 Sept 00 - Schneider proposes 'EC Inclusion' Amendment - Leading EC activists rally to support fairness in the 'Community Renewal Act'. Read Jim's short, effective proposal.
21 Sept 00 - The Senate Finance Committee again postponed Markup of S. 2936. With over 72 amendments quickly filed for this bill, Chairman Roth says he'll not allow costs to go over $37 billion over 10 years. Jim Schneider and Gene Gaines urge you to make sure your Senators include the $200 million Enterprise Communities Amendment in S 2936. Mark up is expected for the week of September 25.
20 Sept 00 - Bill markup delay could indicate they're listening - Gene Gaines and Jim Schneider report the "Renewal Communities and New Markets Act" markup is delayed until Thursday, September 21st. With faxes flying and 'elastic networks' vibrating, there's reason to believe the Senators are listening. We'll keep you posted.
19 Sept 00 - Jim Schneider works with Delaware EC for 'EC Inclusion' amendment to the "Community Renewal and New Markets Act" - The proposed amendment would allow the benefits of the Capital Gains Rollover and Exclusion provisions, which are currently proposed only for Empowerment Zones, to be applicable for all existing Enterprise Communities.
Schnieder and the Delaware EC are actively seeking author/sponsors of the amendment to accomplish this result, which has the support of most of the 115 Enterprise Communities.
Right on, Jim, we are proud you are a Sohodojo Advisory Board member. And right on, Wilmington, Delaware EC! Your Quick Response change insurgency is an inspiration to all 115 Enterprise Communities.
18 Sept 00 - Gene Gaines speaks out! Read "Why did you forget us?... the Enterprise Communities".
12 Sept 00 - Four small business activists start grassroots action. Jim Schneider, Gene Gaines, Timlynn Babitsky and Jim Salmons organize effort to include the nation's Enterprise Communities in business development tax incentives in the "American Community Renewal and New Markets Empowerment Act". Read the press release.
Sadly, it's time to stop our grassroots organizing campaign to see that the nation's Enterprise Communities are not left out of business development tax incentives to stimulate rural and urban economic development. They are now officially, The Forgotten Ones.
The Latest CI News entry at left tells the tale. We may have lost the battle on this one, but they can't kill our Spirit. The Entrepreneurial Spirit can't be stopped by petty oversights in Federal legislation. We'll simply adjust our tactics and keep going.
If you resonate with the ideas and actions of Sohodojo, explore our growing community. Get to know us as we get to know you. We welcome opportunities to collaborate on entrepreneurial social actions.
Dear Interested U.S. Citizens, especially EZ/EC Activists,
We believe that tax incentives to stimulate private investment are vital to success of the "American Community Renewal and New Markets Empowerment Act" (S. 2936). This week, the Senate Finance Committee will Markup S. 2936.
S. 2936 has several important tax and investment incentives that can help revitalize both rural and urban Empowerment Zones and Enterprise Communities (EZ/EC). Of keen importance to small business development is the ability for investments in Empowerment Zone (and as we recommend, Enterprise Community) Businesses to be sold and the capital gains rolled over into another EZ/EC Business.
In the "Small is Good" next wave of Internet-enabled business development, such roll-over incentives will encourage investment in the nation's Empowerment Zones and Enterprise Communities. These provisions will stimulate a fluid business development marketplace which includes access to investment capital for talented free agents and small businesses within our revitalized rural and urban communities.
Sohodojo's Advisory Board member Jim Schneider is the author of the provocative The Taxman86 Speaks... newsletter. Keep up on the latest small business development opportunities provided under the forthcoming "American Community Renewal and New Markets Empowerment Act".
The capital gains provisions in S. 2936 will encourage a diversified investment strategy including strategic, small placements in entrepreneurial free agents and small businesses which subsequently may be rolled over into investments in emerging growth companies in our Enterprise Communities. (See Nanocorp Primer #2 for a perspective on 'New Economy Venture Capital'.)
Ninety-five existing Enterprise Communities, are at risk of being left out of the provisions relevant to investment incentives in S. 2936.
Currently, these provisions are written specific to the nation's 40 Empowerment Zones. We are recommending that Section 405, 406 and 407 of S. 2936 be amended to include our Enterprise Communities. (Tax impact information available on request.)
If this issue is of interest to you, please join us and send a faxed letter to your Senators with a copy to fellow activist, Gene Gaines of Gaines Associates, at 209-671-5082.
It is important that you fax a copy of your letters to Gene as he is working DIRECTLY with the Markup task group and is 'on the Hill' nearly every day. Gene has volunteered to gather, print, collate and distribute complete hard-copy archives of ALL letters sent to our representatives about this issue.
The Sustainable Jobs Fund is a proactive venture fund targeting citizen employment and economic development in rural and urban distressed communities.
The fund's emphasis is on the Eastern U.S. with a special interest in environmental sectors, including recycling and remanufacturing. Find out more here.
Gene believes that all our collective efforts to correct this 'wording oversight' have a good chance of affecting the final Markup. But your voice is needed now.
Please encourage your representatives to make sure that Enterprise Communities are added to Section 405, 406 and 407 of S. 2936. Find your House and Senate representatives contact information here.
We have included our letter to North Carolina's Senator John Edwards to facilitate your efforts in this regard.
Thank you for taking the time to read this message, and a special thanks, if you are able to add your voice to this important issue. (And don't forget to fax a copy of your letters to Gene Gaines at 209-671-5082.)
We hope you will not under-estimate how influential your voice can be on this important issue. We NEED to make sure that the New Economy meets the Real World in our distressed urban and rural neighborhoods. Thank you again for caring.
The following letter is supplied as a sample for your use
10 September 2000
Subject: North Carolina's Enterprise Communities need your help
Dear Senator Edwards,
S. 2936 "American Community Renewal and New Markets Empowerment Act" [the "Act"] is set for Markup in the Senate Finance Committee September 14, 2000. This Act contains several important provisions including Sections 405, 406 and 407 which provide for a capital gains roll over for investments made into an Empowerment Zone Business after the enactment date if held for a year or more, and a capital gains reduction for sales of Qualified Small Business Stock of Empowerment Zone Businesses purchased after the enactment date.
The bill as currently considered provides these tax incentives to Empowerment Zones. Under consideration is extending this bill to also include Enterprise Communities.
As you know, North Carolina has a need to bring economic development to its three designated Enterprise Communities - Halifax/Edgecombe/Wilson, Robeson County, and Charlotte. These Enterprise Communities have made great strides in initiating projects with the federal funding they received through the 1993 Omnibus Budget Reconciliation Act.
However, to carry their initial successes into future growth and development, they must be able to attract private investment capital. By requesting that Enterprise Communities be included in the Chairman's Mark of S. 2936, you can assure that the small businesses of North Carolina's Enterprise Communities offer investors an attractive way to leverage their investments while growing a stronger economy in our State.
Please join us in pressing the Senate Finance Committee to include Enterprise Communities in Section 405, 406 and 407 of S. 2936.
Thank you for your time in reading this letter and for all your efforts to help improve the quality of life and to strengthen the economy in our great State.
--Jim Salmons and Timlynn Babitsky--
Raleigh, North Carolina
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