[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4212 Introduced in House (IH)]







105th CONGRESS
  2d Session
                                H. R. 4212

   To amend the Internal Revenue Code of 1986 to give top performing 
  enterprise communities priority for designation as the empowerment 
          zones authorized by the Taxpayer Relief Act of 1997.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 14, 1998

 Mr. Scott (for himself, Mr. Sisisky, and Mr. Pickett) 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 give top performing 
  enterprise communities priority for designation as the empowerment 
          zones authorized by the Taxpayer Relief Act of 1997.

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

SECTION 1. RECOGNITION AND INCENTIVES FOR TOP PERFORMING ENTERPRISE 
              COMMUNITIES.

    (a) Priority Given to Top Performing Enterprise Communities.--
Subparagraph (D) of section 1391(g)(3) of the Internal Revenue Code of 
1986 (relating to modifications to eligibility criteria, etc.) is 
amended to read as follows:
                    ``(D) Previously designated enterprise communities 
                may be included.--
                            ``(i) In general.--Subsection (e)(5) shall 
                        not apply to any enterprise community 
                        designated under subsection (a) that is also 
                        nominated for designation under this 
                        subsection.
                            ``(ii) Priority.--The appropriate Secretary 
                        shall give priority to a top performing 
                        enterprise community applying for nomination 
                        for designation as an empowerment zone under 
                        paragraph (1) by reason of this subparagraph.''
    (b) Recognition of Top Performing Enterprise Communities.--Section 
1391 of such Code (relating to designation procedure) is amended by 
adding at the end the following new subsection:
    ``(h) Recognition of Top Performing Enterprise Communities.--For 
purposes of subsection (g)--
            ``(1) In general.--The appropriate Secretary shall 
        recognize annually the top performing enterprise communities.
            ``(2) Top performing enterprise community.--The term `top 
        performing enterprise community' means an enterprise community 
        that, as determined by the appropriate Secretary, has completed 
        or made substantial progress toward the achievement of 
        substantially all benchmarks specified in the application for 
        designation under this section.''.
    (c) Effective Date.--The amendments made by this section shall take 
effect as if included in the amendments made by section 952 of the 
Taxpayer Relief Act of 1997.
                                 <all>