A bill to amend the Internal Revenue Code of 1986 to extend and modify the benefits available in empowerment zones and other tax-incentive areas, to require the Secretary of Commerce to establish a program for the award of grants to States to establish revolving loan funds for small and medium-sized manufacturers to improve energy efficiency and produce clean energy technology, to amend the Internal Revenue Code of 1986 to provide a tax credit for farmers' investments in value-added agriculture, and for other purposes.
Upstate Works Act - Amends the National Institute of Standards and Technology Act to: (1) direct the Secretary of Commerce to establish a program to provide grants to states to establish revolving loan funds to provide loans to small and medium-sized manufacturers to finance the cost of reequipping, expanding, or establishing manufacturing facilities in the United States to produce clean energy technology and energy efficient products or of reducing the energy intensity or greenhouse gas production of a manufacturing facility; and (2) include as an activity of Regional Centers for the Transfer of Manufacturing Technology (known as the Hollings Manufacturing Extension Centers) the establishment of a clean energy manufacturing supply chain initiative.
Amends the Internal Revenue Code to: (1) allow a 50% tax credit for investment in value-added agricultural property; (2) allow a credit for 50% of the cost of property used to furnish broadband services in rural areas; (3) extend through 2019 the period for designation of empowerment zones and renewal communities; (4) expand the eligibility criteria for enterprise zone businesses and the use of tax-exempt enterprise facility bonds; and (5) authorize the Secretary of the Treasury to award grants to state or local governments or nonprofit entities for the purpose of making businesses aware of benefits of empowerment zones and renewal communities.
Directs the Secretary of Labor to award grants to improve job skills necessary for employment in specific industries.
Introduced in Senate
Read twice and referred to the Committee on Finance.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line