[1] The Community Renewal Tax Relief Act of 2000 is intended to improve development in economically distressed areas of the United States.

The law offers "tax incentives for businesses to locate and hire residents in urban and rural areas that have not experienced recent economic expansion.

[2] Renewal communities would receive special tax breaks designed to encourage economic growth by generating business investment and job opportunities.

"[2] Another provision of the Community Renewal Tax Relief Act of 2000 was the improvement and expansion of an existing program of "empowerment zones.

"[2] The law authorized the creation of additional empowerment zones, which were originally created in 1993, and the expansion of some of the tax incentives available.

CDEs have three official characteristics: their primary mission is to serve low-income communities and people, they are accountable to residents and include them on their governing boards, and they receive certification as a CDE from the U.S. Department of the Treasury.

Empowerment zone designations were set to expire at the end of 2011, but were extended until December 31, 2013 after President Barack Obama signed into law the American Taxpayer Relief Act of 2012.