Proposal:Economic Development Act for Distressed Zones of 2019

This proposal is archived and closed to further debate. It was introduced in the 116th Congress, which has concluded, and the bill was not enacted into law.

Bill	HR 1525
Type of Legislation	House Bill
Congress	116
Source	View original on Congress.gov

Geographic Scope

National

Description

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

Bill Title

Economic Development Act for Distressed Zones of 2019

Linked Goals

• Goal:Promote General Welfare

Steps

• 2019-03-05: Referred to the House Committee on Ways and Means.
• 2019-03-05: Introduced in House
• 2019-03-05: Introduced in House

Projected Outcome

A more informed proposal or public response aligned with the Promote General Welfare goal.