To amend the Internal Revenue Code of 1986 to allow employers in renewal communities to qualify for the renewal community employment credit by employing residents of certain nearby areas.

Amends the Internal Revenue Code to permit renewal community employers to qualify for the renewal community employment credit by employing residents of another renewal community if the other community is within the five miles, or the county within the which the majority of the services for the employer were performed.

[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3669 Introduced in House (IH)]






108th CONGRESS
  1st Session
                                H. R. 3669

   To amend the Internal Revenue Code of 1986 to allow employers in 
  renewal communities to qualify for the renewal community employment 
         credit by employing residents of certain nearby areas.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            December 8, 2003

Mr. Davis of Alabama introduced the following bill; which was referred 
                   to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
   To amend the Internal Revenue Code of 1986 to allow employers in 
  renewal communities to qualify for the renewal community employment 
         credit by employing residents of certain nearby areas.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. RENEWAL COMMUNITY EMPLOYERS MAY QUALIFY FOR EMPLOYMENT 
              CREDIT BY EMPLOYING RESIDENTS OF CERTAIN NEARBY AREAS.

    (a) In General.--Section 1400H(b)(2) of the Internal Revenue Code 
of 1986 (relating to modification) is amended by striking ``and'' at 
the end of paragraph (1), by striking the period at the end of 
paragraph (2) and inserting ``, and'', and by adding at the end the 
following new paragraph:
            ``(3) subsection (d)(1)(B) thereof shall be applied by 
        substituting `the renewal community referred to in subparagraph 
        (A), any other renewal community if any portion of such other 
        renewal community is within 5 miles of any portion of the 
        renewal community referred to in subparagraph (A), or the 
        county in which the majority of such services were performed' 
        for `such empowerment zone'.''.
    (b) Effective Date.--The amendments made by this section shall take 
effect as if included in the amendment made by section 101(a) of the 
Community Renewal Tax Relief Act of 2000.
                                 <all>