Enterprise Zone Jobs-Creation Act of 1991

Summary

Enterprise Zone Jobs-Creation Act of 1991 - Title I: Designation of Enterprise Zones - Authorizes the Secretary of Housing and Urban Development (Secretary) to designate enterprise zones for purposes of providing tax and regulatory relief and improving local services. Limits choices to areas nominated by States and local governments. Limits the total number of areas that may be designated, and the time period of the designation. Authorizes the Secretary to designate a zone only if the area meets certain locational, demographic, unemployment, and poverty criteria. Requires nominating local governments, as a condition of the Secretary's designation, to agree in writing to follow a course of action that may include reducing tax rates, improving local services, simplifying or streamlining regulation of business, and providing job training to area residents. Describes areas to which the Secretary must give preference in selecting areas for designation. Requires the Secretary to report to the Congress every four years on the effects of such enterprise zones' designation in accomplishing the purposes of this Act. Title II: Federal Income Tax Incentives - Allows a nonrefundable income tax credit to enterprise zone employees for five percent of any wages earned as do not exceed a specified amount. Phases out such credit. Provides for the nonrecognition of capital gain on the sale of enterprise zone property. Allows a taxpayer a deduction on the aggregate amount paid for the purchase of enterprise stock on its original issue by a qualified issuer. Requires any gain from the disposition of the stock to be treated as ordinary income. Title III: Regulatory Flexibility - Amends Federal law to revise the definition of "small entity" for purposes of the analysis of regulatory functions to include qualified business, government, and nonprofit enterprises operating within enterprise zones. Authorizes Federal agencies, upon request by a designating government, to waive or modify rules and regulations pertaining to the implementation of projects or activities within an enterprise zone. Requires agencies to approve the request if the resulting benefits of job creation, community development, or economic revitalization outweigh the public interest in retaining the rule unchanged. Disallows waiver or modification of a rule that would directly violate a statutory requirement or present a danger to the public health and safety. Title IV: Establishment of Foreign-Trade Zones in Enterprise Zones - Requires the Foreign-Trade Zone Board to consider on a priority basis and to expedite the processing of applications for the establishment of foreign-trade zones within enterprise zones. Requires the Secretary of the Treasury to give priority to, and expedite applications for, the establishment of ports of entry necessary to establish such zones. Title V: Repeal of Title VII of the Housing and Community Development Act of 1987 - Repeals title VII (enterprise zone development) of the Housing and Community Development Act of 1987.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 3 January 1991

   Introduced

   Referred to the House Committee on Banking, Finance + Urban Affrs.

   Source: IntroReferral

2. 3 January 1991

   Introduced

   Introduced in House

   Source: IntroReferral

3. 3 January 1991

   Introduced

   Introduced in House

   Source: IntroReferral

4. 15 January 1991

   Referred

   Referred to the Subcommittee on Economic Stabilization.

   Source: Committee

5. 16 April 1991

   Referred

   Referred to the Subcommittee on Administrative Law and Governmental Relations.

   Source: Committee

6. 24 April 1991

   Referred

   Referred to the Subcommittee on Select Revenue Measures.

   Source: Committee

7. 25 June 1991

   Committee

   Subcommittee Hearings Held.

   Source: Committee

8. 11 July 1991

   Committee

   Subcommittee Hearings Held.

   Source: Committee

9. 5 October 1992

   Committee

   See H.R.11.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · undated · Official file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 3 January 1991

  Open at official source

Sponsors

• Rep. Rangel, Charles B. [D-NY-19] · D · Sponsor
• Rep. Bartlett, Steve [R-TX-3] · R · Cosponsor
• Rep. Machtley, Ronald K. [R-RI-1] · R · Cosponsor
• Rep. Mazzoli, Romano L. [D-KY-3] · D · Cosponsor
• JOSE SERRANO · D · Cosponsor
• Rep. Archer, Bill [R-TX-7] · R · Cosponsor
• Rep. Vander Jagt, Guy [R-MI-9] · R · Cosponsor
• Rep. Grandy, Fred [R-IA-6] · R · Cosponsor
• Rep. Bunning, Jim [R-KY-4] · R · Cosponsor
• Rep. Riggs, Frank [R-CA-1] · R · Cosponsor
• Rep. Livingston, Bob [R-LA-1] · R · Cosponsor
• Rep. Lipinski, William O. [D-IL-5] · D · Cosponsor
• FRED UPTON · R · Cosponsor
• Rep. Jefferson, William J. [D-LA-2] · D · Cosponsor
• Rep. McNulty, Michael R. [D-NY-23] · D · Cosponsor
• Rep. Cunningham, Randy (Duke) [R-CA-50] · R · Cosponsor
• Rep. Horton, Frank J. [R-NY-34] · R · Cosponsor
• Rep. Dannemeyer, William E. [R-CA-39] · R · Cosponsor
• Rep. Molinari, Susan [R-NY-14] · R · Cosponsor
• Rep. Johnson, Nancy L. [R-CT-6] · R · Cosponsor
• Rep. Shays, Christopher [R-CT-4] · R · Cosponsor
• Rep. Zimmer, Dick [R-NJ-12] · R · Cosponsor
• Rep. Ireland, Andrew P. [R-FL-10] · R · Cosponsor
• Rep. Roe, Robert A. [D-NJ-8] · D · Cosponsor
• Rep. Coleman, E. Thomas [R-MO-6] · R · Cosponsor
• Rep. Frost, Martin [D-TX-24] · D · Cosponsor
• Rep. Byron, Beverly B. [D-MD-6] · D · Cosponsor
• Rep. Ackerman, Gary L. [D-NY-7] · D · Cosponsor
• Rep. Burton, Dan [R-IN-6] · R · Cosponsor
• Rep. Herger, Wally [R-CA-2] · R · Cosponsor
• Rep. Hughes, William J. [D-NJ-2] · D · Cosponsor
• Rep. Gillmor, Paul E. [R-OH-5] · R · Cosponsor
• Rep. Camp, Dave [R-MI-4] · R · Cosponsor
• Rep. Hansen, James V. [R-UT-1] · R · Cosponsor
• Rep. Franks, Gary A. [R-CT-5] · R · Cosponsor
• Rep. Klug, Scott L. [R-WI-2] · R · Cosponsor
• Rosa DeLauro · D · Cosponsor
• Rep. Hayes, Charles A. [D-IL-1] · D · Cosponsor
• Rep. Fish, Hamilton, Jr. [R-NY-25] · R · Cosponsor
• Rep. Flake, Floyd H. [D-NY-6] · D · Cosponsor
• Rep. Mfume, Kweisi [D-MD-7] · D · Cosponsor
• Rep. Stearns, Cliff [R-FL-6] · R · Cosponsor
• Rep. Bereuter, Doug [R-NE-1] · R · Cosponsor
• Rep. Morrison, Sid [R-WA-4] · R · Cosponsor
• Rep. Walsh, James T. [R-NY-27] · R · Cosponsor
• Rep. Gilman, Benjamin A. [R-NY-26] · R · Cosponsor
• Rep. Paxon, Bill [R-NY-31] · R · Cosponsor
• ILEANA ROS-LEHTINEN · R · Cosponsor

Showing 48 of 140 sponsors and actors.

Related records

• related to ← Revenue Act of 1992
• related to ← Enterprise Zone Jobs-Creation Act of 1991