H.R. 5718 · 112th Congress
To amend the Internal Revenue Code of 1986 to revise the new market tax credit rules for population census…
Full title
To amend the Internal Revenue Code of 1986 to revise the new market tax credit rules for population census tracts with low populations.
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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Amends the Internal Revenue Code, with respect to the new markets tax credit, to expand criteria for the designation of a census track with a population of less than 2,000 as a low-income community for purposes of such credit to include consideration of the poverty rate, median family income, or unemployment rate in such community.
What it does: CRS summary · Introduced in House · May 10, 2012
Amends the Internal Revenue Code, with respect to the new markets tax credit, to expand criteria for the designation of a census track with a population of less than 2,000 as a low-income community for purposes of such credit to include consideration of the poverty rate, median family income, or unemployment rate in such community.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to revise the new market tax credit rules for population census tracts with low populations.
Latest action (May 10, 2012): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: May 10, 2012
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.