Amends the Internal Revenue Code to: (1) direct the Secretary of Housing and Urban Development to designate additional nominated U.S. insular areas which meet certain eligibility criteria as empowerment zones; and (2) set forth various special rules related to such empowerment zones. Limits to $1 million (for others, $3 million) the amount of tax-exempt enterprise zone facility bonds. Prescribes a table of applicable percentages relating to the empowerment zone employment credit with respect to each newly designated empowerment zone.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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