[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5427 Introduced in House (IH)]






108th CONGRESS
  2d Session
                                H. R. 5427

    To clarify that State tax incentives for business investment in 
 equipment and facilities are a reasonable regulation of commerce and 
           are not an undue burden upon interstate commerce.


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                    IN THE HOUSE OF REPRESENTATIVES

                            December 6, 2004

 Mr. Chandler introduced the following bill; which was referred to the 
Committee on the Judiciary, and in addition to the Committee on Energy 
    and Commerce, for a period to be subsequently determined by the 
  Speaker, in each case for consideration of such provisions as fall 
           within the jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
    To clarify that State tax incentives for business investment in 
 equipment and facilities are a reasonable regulation of commerce and 
           are not an undue burden upon interstate commerce.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Jobs Investment Act of 2004''.

SEC. 2. STATE TAX INCENTIVES FOR INVESTMENT IN THE ACQUISITION, 
              CONSTRUCTION, INSTALLATION, AND REHABILITATION OF 
              IMPROVEMENTS, REAL ESTATE, FIXTURES, EQUIPMENT, AND 
              FACILITIES.

    (a) In General.--A State may provide to any entity--
            (1) a credit against any tax or fee owed to the State under 
        a State law; or
            (2) any other tax incentive, determined by the State to be 
        appropriate, in an amount calculated under a formula determined 
        by the State, for investment in the acquisition, construction, 
        installation, and rehabilitation of improvements, real estate, 
        fixtures, equipment, and facilities located in the State by the 
        entity that receives such credit or such incentive.
    (b) Effect on Interstate Commerce.--Any action taken by a State in 
accordance with this section with respect to a tax or fee payable, or 
incentive applicable, for any period beginning after the date of the 
enactment of this Act shall--
            (1) be considered to be a reasonable regulation of 
        commerce; and
            (2) not be considered an undue burden in interstate 
        commerce or otherwise impair, restrain, or discriminate against 
        interstate commerce.
                                 <all>