3.0.0 1743 2023-01-11T13:38:47Z 2023-01-11T13:38:47Z Senate S 2017-08-03 115 ssfi00 Finance Committee Senate Standing Referred to 2017-08-03T18:56:44Z 2017-08-03 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2017-08-03 Introduced in Senate IntroReferral 10000 9 Library of Congress B001267 Sen. Bennet, Michael F. [D-CO] Michael Bennet D CO N Taxation Taxation 00 2017-08-03 Introduced in Senate 2018-03-07T15:43:15Z Coal Community Empowerment Act of 2017

This bill amends the Internal Revenue Code to authorize tax incentives and grants for areas impacted by employment in coal mines.

Coal Community Zones are counties that either: (1) lost at least 50 coal mining jobs from 2011-2015 out of a total of not more than 20,000 employed workers in 2011, or (2) had at least 5% of their employment in coal mining on average from 2011-2015.

For taxpayers located in or investing in the zones, the bill allows:

  • additional tax-exempt bonds,
  • an employment tax credit for hiring individuals in the zones,
  • additional expensing for business property,
  • a deduction for building or revitalizing a commercial building,
  • the elimination of capital gains taxes on certain gains that are invested in zones, and
  • additional new markets tax credits to finance projects in the zones.

The Department of Labor and the Department of Education must jointly establish grant programs for:

  • individual support accounts to fund education and training costs that will prepare individuals in zones for long-term, high-wage employment;
  • the development, revamping, improvement, or expansion of education and training programs for zones in in-demand industry sectors or occupations or industries in local demand; and
  • programs for businesses to provide in-house training and future employment to individuals in zones.
]]> Coal Community Empowerment Act of 2017 Display Title Coal Community Empowerment Act of 2017 Short Titles as Introduced Coal Community Empowerment Act of 2017 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to create tax incentives for coal community zones, to provide education and training opportunities for individuals living and working in coal communities, and for other purposes. Introduced in Senate 2017-08-03T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s1743is/xml/BILLS-115s1743is.xml 2017-08-03 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.