H.R.4901 - National Enterprise Zone Act of 2004108th Congress (2003-2004)
|Sponsor:||Rep. Ryan, Paul [R-WI-1] (Introduced 07/22/2004)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 07/22/2004 Referred to the House Committee on Ways and Means. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
Summary: H.R.4901 — 108th Congress (2003-2004)All Information (Except Text)
Introduced in House (07/22/2004)
National Enterprise Zone Act of 2004 - Amends the Internal Revenue Code to authorize: (1) the governor of a State or U.S. territory or the Mayor of the District of Columbia to nominate by written application one or more enterprise zones for consideration by the Secretary of the Treasury; and (2) any resident of an enterprise zone, including estates, trusts, and corporations (other than S corporations), to elect an alternative income tax based upon National Enterprise Zone taxable income.
Sets forth: (1) procedures for applications and eligibility criteria for designating an enterprise zone, including population, poverty, and unemployment rate requirements; and (2) rules for determining National Enterprise Zone taxable income for individuals and corporations residing in such a Zone. Requires all jurisdictions seeking enterprise zone designations to be in substantial compliance with the No Child Left Behind Act of 2001 and certain tax laws.