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Community Renewal and New Markets Act of 2000

Introduced: July 24, 2000 See on congress.gov
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 Everywhere this bill has been 13 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 5, 2000
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 780.
Jul 31, 2000
Referred to the Subcommittee on Housing and Community Opportunity.
Jul 27, 2000
Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Jul 26, 2000
Received in the Senate.
Jul 25, 2000
Motion to reconsider laid on the table Agreed to without objection.
Jul 25, 2000
On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 394 - 27 (Roll no. 430). (text: CR H6797-6816)
Jul 25, 2000
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 394 - 27 (Roll no. 430).(text: CR H6797-6816)
Jul 25, 2000
DEBATE - The House proceeded with one hour of debate on H.R. 4923.
Jul 25, 2000
Considered under suspension of the rules. (consideration: CR H6797-6841)
Jul 25, 2000
Mr. English moved to suspend the rules and pass the bill.
Jul 24, 2000
Referred to the Committee on Ways and Means, and in addition to the Committees on Banking and Financial Services, Small Business, and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jul 24, 2000
Sponsor introductory remarks on measure. (CR E1311)
Jul 24, 2000
Introduced in House
 Votes taken on this bill 1
DateChamberWhat was voted onResultYes–No
Jul 25, 2000 House · vote #430 Motion to Suspend the Rules and Pass Passed 394–27 See who voted →
 Plain-English summary Congressional Research Service
Community Renewal and New Markets Act of 2000 - Amends the Internal Revenue Code to provide for the nomination (based on the degree of poverty) of up to 40 areas as renewal communities, of which at least eight must be in rural areas. Provides for increased expensing of business costs and tax credits and deductions with respect to such areas.

Provides for the designation of nine additional empowerment zones, an extension of enterprise zone treatment through calendar year 2009, increased expensing in such zones, and other modifications to the treatment of zone investments.

Establishes a new markets tax credit for equity investments in qualified community development entities.

Modifies the low-income housing credit and the criteria for allocating credits among projects.

Provides for an accelerated phase-in of specified increases in the volume cap on private activity bonds.

America's Private Investment Companies Act - Authorizes the Secretary of Housing and Urban Development to license community development entities as America's Private Investment Companies (for-profit investment companies formed to make equity and credit investments for large-scale business development in low-income communities).

Amends the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1997 to direct the Secretary of Housing and Urban Development to transfer ownership of qualified HUD-held properties (substandard or unoccupied multifamily or unoccupied single family properties) to local governments and community development corporations under specified conditions.

What's happening now September 5, 2000

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 780.

 Committees of jurisdiction 5
 Cosponsors 1
All 1 Democratic 1