A bill to amend the Internal Revenue Code of 1986 to provide for new markets tax credit investments in the Rural Jobs Zone.
Rural Jobs Act
This bill allocates an additional $500 million in 2023 and another $500 million in 2024 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.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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