US HB3811 | 2009-2010 | 111th Congress
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on October 14 2009 - 25% progression, died in committee
Action: 2009-10-14 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on October 14 2009 - 25% progression, died in committee
Action: 2009-10-14 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
New Markets Tax Credit Expansion Act of 2009 - Amends the Internal Revenue Code to require the Secretary of the Treasury to allocate in 2010 and 2011 new markets tax credit amounts to community development entities that provide investment capital or technical assistance for a distressed community. Defines "distressed community" as a county designated by the Secretary of the Treasury as: (1) having, during a specified period, a residential or commercial mortgage foreclosure rate of 110% or more of the national average, a decline in the average fair market value of housing of at least 20%, or an unemployment rate of 110% or more of the national average; (2) having more than 50% of its housing loans with a loan-to-value ratio of greater than 80%; or (3) being in a disaster area.
Title
New Markets Tax Credit Expansion Act of 2009
Sponsors
Rep. Suzanne Kosmas [D-FL] |
History
Date | Chamber | Action |
---|---|---|
2009-10-14 | Referred to the House Committee on Ways and Means. |
Subjects
Business investment and capital
Housing and community development funding
Income tax credits
Rural conditions and development
Taxation
Urban and suburban affairs and development
Housing and community development funding
Income tax credits
Rural conditions and development
Taxation
Urban and suburban affairs and development
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/111th-congress/house-bill/3811/all-info |
Text | https://www.congress.gov/111/bills/hr3811/BILLS-111hr3811ih.pdf |