H.R. 1677: Empowerment Zone, Renewal Community and Enterprise Community Enhancement Act of 2009

111th Congress, 1st Session

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Official Title: 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.
Sponsor: Rep Davis, Artur [AL-7] (introduced 3/24/2009)
Major Actions:
3/24/2009 Referred to House committee. Status: Referred to the House Committee on Ways and Means.

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SUMMARY AS OF:
3/24/2009--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.

Read the entire bill here (PDF).

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Cosponsors: 46:

Rep Alexander, Rodney [LA-5]
Rep Bishop, Sanford D., Jr. [GA-2]
Rep Bonner, Jo [AL-1]
Rep Bono Mack, Mary [CA-45]
Rep Brown, Corrine [FL-3]
Rep Cao, Anh "Joseph" [LA-2]
Rep Carnahan, Russ [MO-3]
Rep Clarke, Yvette D. [NY-11]
Rep Clay, Wm. Lacy [MO-1]
Rep Cole, Tom [OK-4]
Rep Costello, Jerry F. [IL-12]
Rep Davis, Susan A. [CA-53]
Rep Deal, Nathan [GA-9]
Rep Dicks, Norman D. [WA-6]
Rep Engel, Eliot L. [NY-17]
Rep Filner, Bob [CA-51]
Rep Frank, Barney [MA-4]
Rep Gonzalez, Charles A. [TX-20]
Rep Hastings, Doc [WA-4]
Rep Higgins, Brian [NY-27]
Rep Kildee, Dale E. [MI-5]
Rep Kind, Ron [WI-3]
Rep Lewis, John [GA-5]
Rep Lowey, Nita M. [NY-18]
Rep Maffei, Daniel B. [NY-25]
Rep Marshall, Jim [GA-8]
Rep McGovern, James P. [MA-3]
Rep Michaud, Michael H. [ME-2]
Rep Moore, Gwen [WI-4]
Rep Ortiz, Solomon P. [TX-27]
Rep Pastor, Ed [AZ-4]
Rep Rahall, Nick J., II [WV-3]
Rep Rodriguez, Ciro D. [TX-23]
Rep Rogers, Harold [KY-5]
Rep Schwartz, Allyson Y. [PA-13]
Rep Shimkus, John [IL-19]
Rep Snyder, Vic [AR-2]
Rep Sutton, Betty [OH-13]
Rep Thompson, Bennie G. [MS-2]
Rep Tonko, Paul D. [NY-21]
Rep Tsongas, Niki [MA-5]
Rep Wamp, Zach [TN-3]
Rep Welch, Peter [VT]
Rep Whitfield, Ed [KY-1]
Rep Wilson, Charles A. [OH-6]
Rep Young, Don [AK]