Section 1 Short title
This Act may be cited as the “Providing Opportunities for Wider Economic Revitalization Act” or the “POWER Act”.
Providing Opportunities for Wider Economic Revitalization Act
A BILL
To authorize the Secretary of Energy to release a reversionary interest in certain real property, and for other purposes.
Sec. 2 Release of reversionary interest in certain real property, Springfield, Ohio
Release of reversionary interest authorized— Subject to subsection (b), the Secretary of Energy may release, without reimbursement or other consideration, a reversionary interest acquired by the United States when the National Nuclear Security Administration made a grant to support the acquisition of real property and construction of infrastructure located at 4170 Allium Court in Springfield, Ohio.
Condition on release— The authority of the Secretary of Energy to release the reversionary interest described in subsection (a) is conditioned on, and may be exercised only after, the acquisition of title to the real property subject to the reversionary interest by the Community Improvement Corporation of Clark County, a nonprofit entity created by the City of Springfield, Ohio, Clark County, Ohio, and the Chamber of Commerce in the County.