118 HR 3124 IH: To amend the Internal Revenue Code of 1986 to remove private or commercial golf courses and country clubs from the list of uses for which certain proceeds cannot be used. U.S. House of Representatives 2023-05-05 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I118th CONGRESS1st SessionH. R. 3124IN THE HOUSE OF REPRESENTATIVESMay 5, 2023Ms. Tenney (for herself and Mr. Panetta) introduced the following bill; which was referred to the Committee on Ways and MeansA BILLTo amend the Internal Revenue Code of 1986 to remove private or commercial golf courses and country clubs from the list of uses for which certain proceeds cannot be used.

1.

Repeal of restrictions on use of certain proceeds for private or commercial golf courses and country clubs

(a)

In general

Section 144 of the Internal Revenue Code of 1986 is amended by striking private or commercial golf course, country club, each place it appears. (b)

Effective dates

(1)

In general

The amendment made by this section shall apply to obligations issued after the date of the enactment of this Act.(2)

Special rule for empowerment zone employment credit

For purposes of section 1396(d)(2) of the Internal Revenue Code of 1986, the amendment made by subsection (a) shall apply to individuals who begin work for the employer after the date of the enactment of this Act.(3)

Special rule for empowerment zone business and opportunity zones

For purposes of sections 1397C(d)(5) and 1400Z–2(d)(3)(A) of the Internal Revenue Code of 1986, the amendment made by subsection (a) shall apply to taxable years beginning after the date of the enactment of this Act.