To establish a grant program to return a portion of the savings realized by the Department of Defense as a result of the closure or realignment of a military installation to the communities in which the installation is located to assist in the economic recovery and adjustment of these communities.
Community Reinvestment and Recovery Act - Directs the Secretary of Defense to establish a program to make grants to assist local communities in recovering from the adverse economic impact of the closure or major realignment of a military installation under a base closure law. Requires a local government, in order to be eligible for such grant, to submit to the Secretary: (1) a comprehensive local economic recovery plan; and (2) an annual report concerning such community's progress in recovering from the effects of such closure or realignment. Provides that the amount of funds available for such grants with respect to the closure or realignment of a military installation shall equal ten percent of the total projected savings by the Department of Defense as a result of such action over the following ten years.
Authorizes appropriations.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E1910-1911)
Referred to the House Committee on Armed Services.
Referred to the Subcommittee on Research and Technology.
Executive Comment Requested from DOD.
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