(a) In general Subject to the modification in subsection (b), a renewal community shall be treated as an empowerment zone for purposes of section
1396 with respect to wages paid or incurred after December 31, 2001.
(b) Modification In applying section
1396 with respect to renewal communities
(1) the applicable percentage shall be 15 percent, and
(2) subsection (c) thereof shall be applied by substituting $10,000 for $15,000 each place it appears.
