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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Nov 15, 2016.
Creating Opportunities for Rural Economic Expansion Act or the CORE Act
This bill amends the Internal Revenue Code to require at least 5% of the new markets tax credit limitation to be allocated to community development entities in connection with certain investments, financial counseling, and other services in distressed coal communities.
A "distressed coal community" is any low-income community located in a county that: (1) was one of the 30 counties with the biggest employment decrease among coal operators over a specified time period; or (2) is contiguous to a county that has the required decrease in employment, is located in the same state, and contains at least one low-income community.