[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3168 Introduced in House (IH)]







107th CONGRESS
  1st Session
                                H. R. 3168

  To amend the Internal Revenue Code of 1986 to designate an area of 
   lower Manhattan as one of the empowerment zones authorized by the 
               Community Renewal Tax Relief Act of 2000.


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                    IN THE HOUSE OF REPRESENTATIVES

                            October 24, 2001

 Mr. Houghton 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 designate an area of 
   lower Manhattan as one of the empowerment zones authorized by the 
               Community Renewal Tax Relief Act of 2000.

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

SECTION 1. DESIGNATION OF LOWER MANHATTAN AREA AS EMPOWERMENT ZONE.

    (a) In General.--Subsection (h) of section 1391 of the Internal 
Revenue Code of 1986 (relating to additional designations permitted) is 
amended by adding at the end the following new paragraph:
            ``(5) Designation of lower manhattan area.--One of the 
        areas designated under paragraph (1) shall be the area in New 
        York City in the Burough of Manhattan bounded on the north by a 
        line running from the intersection of the Hudson River with the 
        Holland Tunnel, and running thence east to Canal Street, then 
        running along the centerline of Canal Street to the 
        intersection of the Bowery and Canal Street, running thence in 
        a southeasterly direction diagonally across Manhattan Bridge 
        Plaza, to the Manhattan Bridge and thence along the centerline 
        of the Manhattan Bridge to the point where the centerline of 
        the Manhattan Bridge would intersect with the easterly bank of 
        the East River.''
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