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HR 5186 109th Congress House Taxation Bonds Building construction Buildings Capital gains tax Commerce Depressed areas District of Columbia Economics and Public Finance Enterprise zones Finance and Financial Sector Government Operations and Politics Home ownership Housing and Community Development Income tax Labor and Employment Local finance Local taxation Partnerships Small business

District of Columbia Tax Incentives Improvement Act of 2006

Introduced: April 25, 2006 Introduced by: Norton, Eleanor Holmes Democratic · District of Columbia See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 25, 2006
Referred to the Committee on Ways and Means, and in addition to the Committees on the Judiciary, and Government Reform, 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.
Apr 25, 2006
Sponsor introductory remarks on measure. (CR E592)
Apr 25, 2006
Introduced in House
 Plain-English summary Congressional Research Service

District of Columbia Tax Incentives Improvement Act of 2006 - Amends the Internal Revenue Code to establish until December 31, 2009, a DC Development Target Area and a DC Employment Target Area as empowerment zones to provide tax incentives for investment and economic development in the District of Columbia.

Reinstates with modified provisions the exclusion from gross income of all gain from the sale or exchanges of an expanded DC Zone asset held for more than five years. Includes as an expanded DC Zone asset certain business stock, partnership interests, and business property purchased or acquired in a District of Columbia enterprise zone after December 31, 1997, and before January 1, 2010.

Increases the amount of the tax credit for first-time District of Columbia homebuyers to $10,000 and extends such credit through 2009.

What's happening now April 25, 2006

Referred to the Committee on Ways and Means, and in addition to the Committees on the Judiciary, and Government Reform, 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.

 Committees of jurisdiction 3