H.R.2238 - To amend the Internal Revenue Code of 1986 to extend certain tax benefits related to empowerment zones.116th Congress (2019-2020) |
|Sponsor:||Rep. Espaillat, Adriano [D-NY-13] (Introduced 04/10/2019)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 04/10/2019 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:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.2238 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (04/10/2019)
This bill extends the period for the designation of empowerment zones and reinstates the tax credit for holders of qualified zone academy bonds. An empowerment zone is an economically distressed community eligible for various tax incentives and grants from the federal government to promote investment in the community.
The bill reinstates and expands the tax credit for holders of qualified zone academy bonds. A qualified zone academy bond is a tax-exempt bond that may be issued to rehabilitate or repair a public school facility, to provide equipment and develop course material, and train teachers and other school personnel.