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Katrina Law

Katrina
law reforms and initiatives have been launched since the 2005 hurricane
devastated much of the Gulf Coast area of the United States, notably
including the city of New Orleans. As such, Katrina law efforts have
been passed into effect in the form of the creation of the Gulf
Opportunity Zone, as well as other tax measures intended to encourage
economic activity in the area. Katrina law measures have thus aimed at
restoring quality of life for areas which, in some cases, have
historically been noted for high degrees of poverty and social
deprivation, even preceding the particularly harmful of Hurricane
Katrina. Supporters of such Katrina law initiatives have raised
concerns, however, in the context of heavy Democratic losses in
Congress, incurred in the November 2010 elections. Democratic
legislators had hoped to pass through extensions for the Katrina law
provisions, but even prior to the party’s reversals of fortune, had been
preventing from doing so by Republican figures.


Recommendations
for the continued enforcement of Katrina law provisions have also been
launched by Housing Authority of New Orleans head David Gilmore, who
announced that tax credit extensions would be necessary for his agency
to carry out planned projects for residential, low-income construction.
In general, the continued maintenance of Katrina law measures is
believed to have been threatened by an anti-spending mood currently seen
throughout the country, and tied to high budget deficits. The continued
need for Katrina law measures has also been tied to the fall in credit
available during the economic recession.