H. R. 3478
IN THE HOUSE OF REPRESENTATIVES
November 18, 2011
Mr. Gonzalez introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to extend bond authority for those empowerment and enterprise zones with unused bond limitation at the end of 2011.
Extension of bond authority for empowerment and enterprise zones with unused bond limitation
Empowerment Zones With Unused Bond Limitation
Section 1394 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection:
Special rule relating to termination of empowerment zone
Notwithstanding section 1391(d)(1)(A), in the case of any empowerment zone with respect to which there is unused limitation under subsection (c)(1)(A) or (f)(2)(B) on December 31, 2011, this section shall be effective and apply to any bond issued before January 1, 2013.
District of Columbia Enterprise Zone
Subsection (b) of section 1400A of such
Code is amended by inserting before the period the following:
as provided by section 1394(g).
The amendments made by subsection (a) shall apply to bonds issued on or after December 31, 2011.