PUBLIC LAW 102-302—JUNE 22, 1992 106 STAT. 251 EXECUTIVE OFFICE OF THE PRESIDENT OFFICE OF NATIONAL DRUG CONTROL PoucY SALARIES AND EXPENSES (RESCISSION) Of the funds made available under this heading in Public Law 102-141, $1,000,000 are rescinded. SENSE OF THE SENATE WITH RESPECT TO FEDERAL ENTERPRISE ZONES (a) FINDINGS.—The Senate finds that: (1) The crisis of poverty and high unemployment in America's inner cities and rural areas demands an appropriate and timely responsefromCongress; (2) Manufacturing and industry has largely disappeared frx)m many United States inner cities which, in turn, led to the severe decline in good high-wage jobs, wholesale trade, retail businesses, and a large source of local tax revenues; (3) Encouraging small and medium-sized businesses, which create the msgority of new jobs in the United States economy, to locate and invest in poor neighborhoods is one of the keys to revitalizing urban America; (4) Enterprise Zones will help convince businesses to build and grow in poor neighborhoods; they will give people incentives to invest in such businesses and to hire and train both unemployed and economically disadvantaged individuals; they will create jobs and stimulate entrepreneurship; and they wili help restore the local tax revenue base to these communities; (5) Enterprise Zones have been tested in 37 States since 1982 and have proven to be successful, having generated capital investments in poor neighborhoods in excess of $28,000,000,000 and having created more than 258,000 jobs; and (6) Enterprise Zones have been endorsed by, among others, the National Governors Association, the National Council of State Legislators, the Council of Black State Legislators, the Conference of Mayors, and the Conference of Black Mayors. (b) SENSE OF THE SENATE.— It is the sense of the Senate that— (1) Enterprise 2k)nes are a vital, proven tool for inner-city revitalization; and (2) Congress should adopt Federal enterprise zone legislation and that such legislation should include the following provisions: (A) Competitive designation which will maximize State and local participation; (B) Tax incentives addressing both capital and labor costs; (C) Tax incentives aimed at attracting investment in small business; and (D) Tax incentives to encourage the hiring and training of economically disadvantaged individuals.
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