[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4629 Introduced in House (IH)]







105th CONGRESS
  2d Session
                                H. R. 4629

 To make effective beginning in 1999 the empowerment zones designated 
           after August 5, 1997, and before February 8, 1998.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 25, 1998

   Mr. Becerra (for himself, Mr. Berman, Mr. Martinez, Ms. Millender-
 McDonald, Mr. Rogan, Mr. Sherman, Mr. Waxman, Mr. Torres, Ms. Roybal-
 Allard, Mr. Stokes, Mr. Matsui, Mr. Dixon, Mr. Kucinich, Ms. Waters, 
 and Ms. Harman) introduced the following bill; which was referred to 
                    the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To make effective beginning in 1999 the empowerment zones designated 
           after August 5, 1997, and before February 8, 1998.

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

SECTION 1. EFFECTIVE DATE FOR CERTAIN EMPOWERMENT ZONES.

    (a) Effective for 1999.--Subsection (c) of section 951 of the 
Taxpayer Relief Act of 1997 (111 Stat. 885) is amended to read as 
follows:
    ``(c) Effective Date.--
            ``(1) In general.--Subject to paragraph (2), the amendments 
        made by this section shall take effect on the date of the 
        enactment of this Act.
            ``(2) Special rules.--Designations of new empowerment zones 
        made pursuant to such amendments shall be made during the 180-
        day period beginning on the date of the enactment of this Act. 
        Any such designation shall take effect--
                    ``(A) on January 1, 1999, if such designation is 
                made before February 8, 1998, and
                    ``(B) on January 1, 2000, if such designation is 
                made on or after February 8, 1998.''.
    (b) Employment Credit Allowed for 1999.--Paragraph (2) of section 
1396(b) of the Internal Revenue Code of 1986 is amended--
            (1) by striking ``(2) Special rule.--With'' and inserting 
        the following:
            ``(2) Special rule.--
                    ``(A) In general.--With'' and moving the text 2 ems 
                to the right, and
            (2) by adding at the end the following new subparagraph:
                    ``(B) Zones designated before february 8, 1998.--In 
                the case of any empowerment zone referred to in 
                subparagraph (A) designated before February 8, 1998, 
                the following table shall apply in lieu of the table in 
                subparagraph (A):


``In the case of wages paid or                           The applicable
  incurred during calendar year--                       percentage is--
    1999 through 2006.............................                  20 
    2007..........................................                  15 
    2008..........................................                  10 
    2009..........................................                5.''.

    (c) Effective Date.--The amendments made by this section shall take 
effect as if included in the amendments made by section 951 of the 
Taxpayer Relief Act of 1997.
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