Bill Sponsor
House Bill 1525
116th Congress(2019-2020)
Economic Development Act for Distressed Zones of 2019
Introduced
Introduced
Introduced in House on Mar 5, 2019
Overview
Text
Introduced
Mar 5, 2019
Latest Action
Mar 5, 2019
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
1525
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
Sponsorship by Party
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

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

Text (1)
March 5, 2019
Actions (2)
03/05/2019
Referred to the House Committee on Ways and Means.
03/05/2019
Introduced in House
Public Record
Record Updated
Nov 1, 2022 5:03:26 PM