To amend the Internal Revenue Code of 1986 to provide tax incentives to encourage corporations to provide financing and management support services to small business concerns operating in urban areas designated as enterprise zones.
Urban Entrepreneurial Opportunities Act - Amends the Internal Revenue Code to allow a deduction for equity contributions made by a corporation to an urban entrepreneurial opportunity financing subsidiary of such corporation. Requires the subsidiary to use such contribution in making qualified enterprise zone business loans to qualified small business concerns.
Establishes an overall program limitation among the contributing corporations to be allocated by the Secretary of Housing and Urban Development.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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