Summary: H.R.5172 — 100th Congress (1987-1988)All Information (Except Text)

There is one summary for H.R.5172. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (08/04/1988)

Jobs Relocation Incentives Act of 1988 - Amends the Internal Revenue Code to permit an income tax credit to a corporation for qualified expenses incurred in discontinuing a wholly-owned foreign operation and relocating its activity to a U.S. labor surplus area within two years. Requires the business activity to employ at least 500 individuals full time.

Permits a ten percent credit for the first taxable year and five percent for the nine succeeding years. Disallows the credit if bankruptcy results from the relocation or if employee numbers decrease to a specified threshold within five years of the new operation's commencement.

Recaptures credit amounts if the corporation ceases operation of the new domestic enterprise within five years of its beginning.

Terminates the credit five years after this Act's enactment.