[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 2331 Introduced in Senate (IS)]








109th CONGRESS
  2d Session
                                S. 2331

  To amend the Internal Revenue Code of 1986 to extend the period for 
 which the designation of an area as an empowerment zone is in effect.


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                   IN THE SENATE OF THE UNITED STATES

                           February 17, 2006

Ms. Snowe (for herself and Ms. Collins) introduced the following bill; 
     which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to extend the period for 
 which the designation of an area as an empowerment zone is in effect.

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

SECTION 1. EXTENSION OF ROUND II AND ROUND III EMPOWERMENT ZONES.

    (a) In General.--Clause (i) of section 1391(d)(1)(A) of the 
Internal Revenue Code of 1986 (relating to period for which designation 
is in effect) is amended by inserting ``(December 31, 2016, in the case 
of any empowerment zone designated under subsection (g) or (h))'' after 
``2009''.
    (b) Conforming Amendment.--Paragraph (2) of section 1391(h) of the 
Internal Revenue Code of 1986 (relating to additional designations 
permitted) is amended by striking ``2009'' and inserting ``2016''.
    (c) Effective Date.--The amendments made by this section shall 
apply after the date of the enactment of this Act.
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