S. 1222 (111th): Empowerment Zone, Renewal Community and Enterprise Community Enhancement Act of 2009

Introduced:
Jun 09, 2009 (111th Congress, 2009–2010)
Sponsor:
Sen. Blanche Lincoln [D-AR]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on June 9, 2009, in a previous session of Congress, but was not enacted.

Progress
Introduced Jun 09, 2009
Referred to Committee Jun 09, 2009
Cosponsors
14 cosponsors (8D, 6R) (show)
Committees

Senate Finance

The committee chair determines whether a bill will move past the committee stage.

Full Title

A bill to amend the Internal Revenue Code of 1986 to extend and expand the benefits for businesses operating in empowerment zones, enterprise communities, or renewal communities, and for other purposes.

Summary

No summaries available.

Text

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Last updated Jun 09, 2009.
30 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

6/9/2009--Introduced.
Empowerment Zone, Renewal Community and Enterprise Community Enhancement Act of 2009 - Amends Internal Revenue Code provisions relating to tax-preferred empowerment zones, rural enterprise communities, and renewal communities to:
(1) extend the period of designation for such areas through 2015;
(2) provide a safe harbor standard for employee residency requirements in empowerment zones;
(3) eliminate certain residency requirements for the empowerment zone employment tax credit;
(4) grant authority to expand the boundaries of empowerment zones and enterprise communities, including those located in rural areas;
(5) allow carryovers of unused expensing allowances for enterprise zone businesses;
(6) allow certain empowerment zone businesses to elect to receive payments in lieu of tax benefits;
(7) allow federal guarantees and tax exemptions for enterprise zones and renewal communities; and
(8) allow the issuance of tax-exempt rural enterprise community bonds and empowerment zone facility bonds.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.

No summary available.

House Democratic Caucus Summary

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