Urban Jobs and Enterprise Zone Act of 1981

[AI summary unavailable — showing source text] Urban Jobs and Enterprise Zone Act of 1981 - Title I: Designation of Private Jobs and Enterprise Zones - Amends the Internal Revenue Code to provide for the designation of private jobs and enterprise zones, for a ten-year period and subject to the approval of the Secretary of Commerce, by local governments or by State governments on behalf of local governments for purposes of extending the tax incentives provided by title II of this Act. Specifies that the Secretary may approve the designation of such zones only if: (1) the area is within the jurisdiction of the designating local government; (2) the boundary of the area is continuous; (3) the area has a population of at least 4,000 or is an Indian reservation; and (4) the area meets specified unemployment and poverty requirements. Requires designating local governments, as a condition of the Secretary's approval, to effect a permanent real property tax reduction in their respective jurisdictions which is not less than 20 percent of the current effective rate. Requires any such property tax reduction to be disregarded for the purpose of determining the eligibility of a State or local government for Federal assistance or benefits. Ex…