H.R. 1525 · 116th Congress
Economic Development Act for Distressed Zones of 2019
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
González-ColónSponsor2 cosponsors · 1 D, 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill provides various tax credits related to economically distressed zones and establishes a procedure for state and local governments to apply for such zone designation.
What it does: CRS summary · Introduced in House · Mar 5, 2019
Economic Development Act for Distressed Zones of 2019
This bill 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
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Economic Development Act for Distressed Zones of 2019
Latest action (Mar 5, 2019): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Mar 5, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.