HR 3584
115th Congress
House
Taxation
Economic development
Educational facilities and institutions
Elementary and secondary education
Income tax credits
Securities
To amend the Internal Revenue Code of 1986 to extend certain credits against tax related to empowerment zones.
Introduced: July 28, 2017
Introduced by:
Espaillat, Adriano
Democratic
· New York
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 28, 2017
Referred to the House Committee on Ways and Means.
Jul 28, 2017
Introduced in House
Plain-English summary
This bill amends the Internal Revenue Code, with respect to empowerment zones, to: (1) extend the termination date for empowerment zone designations to December 31, 2020, and (2) allow nominations for existing zones to be amended to provide for the new termination date.
(Empowerment zones are federally designated geographic areas where certain federal tax incentives and grants are allowed to increase investment and employment.)
The bill also extends the $400 million annual limitation for qualified zone academy bonds to 2018, 2019, and 2020. (Under current law, the limit is zero after 2016 unless provisions permitting the carryover of unused limitation apply.)
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1