To amend the Internal Revenue Code of 1986 to increase job creation and small business expansion and formation in economically distressed United States insular areas.

Summary

Amends the Internal Revenue Code to: (1) direct the Secretary of Housing and Urban Development to designate additional nominated U.S. insular areas which meet certain eligibility criteria as empowerment zones; and (2) set forth various special rules related to such empowerment zones. Limits to $1 million (for others, $3 million) the amount of tax-exempt enterprise zone facility bonds. Prescribes a table of applicable percentages relating to the empowerment zone employment credit with respect to each newly designated empowerment zone.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 1 April 1998

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• Introduced in House (PDF)

  Introduced in House · EN · 1 April 1998

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• Introduced in House

  summary · EN · 1 April 1998

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