Business and Urban Partnership Act

[AI summary unavailable — showing source text] TABLE OF CONTENTS: Title I: Designation of Targeted Urban Areas Title II: Federal Income Tax Incentives Title III: Regulatory Flexibility Title IV: Establishment of Foreign-Trade Zones in Targeted Urban Areas Title V: Repeal of Title VII of the Housing and Community Development Act of 1987 Business and Urban Partnership Act - Title I: Designation of Targeted Urban Areas - Amends the Internal Revenue Code to provide for the designation of targeted urban areas by the Secretary of Housing and Urban Development. Requires such areas to be within the jurisdiction of a qualified city and to have a required course of action designed to reduce the various burdens borne by employers or employees in the area, including tax relief and regulatory belief. Requires the Secretary to report biennially to the Congress on the effects of targeted urban areas designations. Provides for the coordination of such designations with relocation assistance programs and environmental policy. Title II: Federal Income Tax Incentives - Amends the Internal Revenue Code to allow a refundable tax credit to area employers for 50 percent of the qualified expenses of: (1) employee accident or health plan coverage; (2) …