Requires specified amounts of foreign assistance to be in the form of credits for the purchase of goods produced in such zones and communities.
Directs the Secretary of Commerce to provide assistance preference to Manufacturing Technology Outreach Centers located in such zones and communities.
Establishes a preference for Federal facility construction or relocation in distressed urban areas.
Amends the Internal Revenue Code to provide specified tax incentives to stimulate urban development, including provisions respecting: (1) rehabilitation credit treatment; (2) tax-exempt commercial development bonds; (3) small issue bonds; (4) arbitrage interest rebate waiver; (5) residential rental project bonds; and (6) the targeted jobs tax credit.
Allows a home buyer tax credit for principal residence purchases in such zones or communities.
Directs the Secretary of Housing and Urban Development to study the feasibility of consolidating public and low-income housing programs into a comprehensive block grant system.
Amends the Cranston-Gonzalez National Affordable Housing Act and the Housing and Community Development Act, respectively, to make home ownership assistance available to qualifying municipal employees and teachers.
Amends the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 to establish a Brownfield program in the Environmental Protection Agency.