US HB1525 | 2019-2020 | 116th Congress
Status
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: Introduced on March 5 2019 - 25% progression, died in committee
Action: 2019-03-05 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 5 2019 - 25% progression, died in committee
Action: 2019-03-05 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Provides various tax credits related to economically distressed zones and establishes a procedure for state and local governments to apply for such zone designation. Specifically, the bill provides credits to taxpayers in an economically distressed zone based on the amount of (1) wages paid by an employer to employees, (2) depreciation and amortization allowances for business property, and (3) trade or business payments made for purchases of services or property. The bill also allows state and local governments to apply for a population census tract under their ambit to be designated as an economically distressed zone
Title
Economic Development Act for Distressed Zones of 2019
Sponsors
Rep. Jenniffer Gonzalez-Colon [R-PR] | Rep. Ann Kirkpatrick [D-AZ] | Rep. Don Young [R-AK] |
History
Date | Chamber | Action |
---|---|---|
2019-03-05 | House | Referred to the House Committee on Ways and Means. |
2019-03-05 | House | Introduced in House |
Same As/Similar To
HB6443 (Related) 2020-04-03 - Referred to the House Committee on Ways and Means.
Subjects
Business investment and capital
Community life and organization
Economic development
Housing and community development funding
Income tax credits
Minority and disadvantaged businesses
Poverty and welfare assistance
Public-private cooperation
Taxation
Wages and earnings
Community life and organization
Economic development
Housing and community development funding
Income tax credits
Minority and disadvantaged businesses
Poverty and welfare assistance
Public-private cooperation
Taxation
Wages and earnings
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/1525/all-info |
Text | https://www.congress.gov/116/bills/hr1525/BILLS-116hr1525ih.pdf |