S. 2028 116th Congress Senate

Rural Jobs Act

Official title: A bill to amend the Internal Revenue Code of 1986 to provide for new markets tax credit investments in the Rural Jobs Zone.

Introduced: October 22, 2019 Introduced by: Roger F. Wicker Republican · Mississippi See on congress.gov

Taxation Administrative law and regulatory proceduresBusiness investment and capitalDepartment of the TreasuryEconomic development

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Income tax creditsRural conditions and development

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jun 27, 2019

Read twice and referred to the Committee on Finance.

Jun 27, 2019

Introduced in Senate

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Latest action June 27, 2019

Read twice and referred to the Committee on Finance.

Plain-English summary Congressional Research Service

Rural Jobs Act

This bill allocates an additional $500 million in 2019 and 2020 for new markets tax credit investments in the Rural Jobs Zone (an area comprised of low-income communities with populations not greater than 50,000 that are not adjacent to an urbanized area). The bill also requires that not less than 25% of such investments be made in areas that are persistent poverty counties, high migration rural counties, or both.

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