[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 504 Introduced in House (IH)]







106th CONGRESS
  1st Session
                                H. R. 504

To amend the Internal Revenue Code of 1986 to require, in weighing the 
 factors taken into account in the evaluation of applications for the 
 designation of empowerment zones in urban areas under subchapter U of 
such Code, that the unemployment rate and poverty rate of an applicant 
                   together be given half the weight.


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                    IN THE HOUSE OF REPRESENTATIVES

                            February 2, 1999

Mr. Traficant 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 require, in weighing the 
 factors taken into account in the evaluation of applications for the 
 designation of empowerment zones in urban areas under subchapter U of 
such Code, that the unemployment rate and poverty rate of an applicant 
                   together be given half the weight.

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

SECTION 1. CONSIDERATION OF UNEMPLOYMENT AND POVERTY RATES IN 
              EVALUATING APPLICATIONS FOR DESIGNATION OF EMPOWERMENT 
              ZONES IN URBAN AREAS.

    (a) In General.--Subsection (c) of section 1392 of the Internal 
Revenue Code of 1986 is amended by adding at the end the following:
``In weighing the factors taken into account in the evaluation of an 
application for the designation of an empowerment zone in an urban 
area, the unemployment rate and the poverty rate of the nominated area 
shall together be given half the weight.''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
take effect with respect to applications submitted after the date of 
the enactment of this Act.
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