S. 1671 117th 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: May 18, 2021 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

May 18, 2021

Read twice and referred to the Committee on Finance.

May 18, 2021

Introduced in Senate

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Latest action May 18, 2021

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 2022 and 2023 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 at least 25% of such investments be made in areas that are persistent poverty counties, high migration rural counties, or both.

Related & companion bills 1

Bill text 1 version