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United States · Bill · S

S. 1627 (110th)

Empowerment Zone and Renewal Community Enhancement Act of 2007

referredUnited States· United States Congress· EN

Introduced

14 June 2007

Last action

14 June 2007 · Introduced

Status

Read twice and referred to the Committee on Finance.

Sponsors

Sen. Lincoln, Blanche L. [D-AR], Sen. Snowe, Olympia J. [R-ME], Sen. Landrieu, Mary L. [D-LA], Sen. Lott, Trent [R-MS], Sen. Schumer, Charles E. [D-NY], Sen. Vitter, David [R-LA], Sen. Rockefeller, John D., IV [D-WV], Sen. Collins, Susan M. [R-ME], Sen. Clinton, Hillary Rodham [D-NY], Sen. Inhofe, James M. [R-OK], Sen. Brown, Sherrod [D-OH], Sen. Pryor, Mark L. [D-AR], Sen. Levin, Carl [D-MI], Sen. Isakson, Johnny [R-GA], Sen. Roberts, Pat [R-KS], Sen. Martinez, Mel [R-FL], Sen. Chambliss, Saxby [R-GA], Sen. Cochran, Thad [R-MS], Sen. Obama, Barack [D-IL], Sen. Kerry, John F. [D-MA], Sen. Stabenow, Debbie [D-MI], Sen. Cantwell, Maria [D-WA], Sen. Durbin, Richard J. [D-IL], Sen. Lieberman, Joseph I. [ID-CT], Sen. Sessions, Jeff [R-AL]

Subjects

Taxation

Source updated

10 February 2026

Taxation

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Summary

Empowerment Zone and Renewal Community Enhancement Act of 2007 - Amends Internal Revenue Code provisions relating to tax-preferred empowerment zones, rural enterprise communities, and renewal communities to: (1) extend the period of designation for such areas through 2015; (2) provide a safe harbor standard for employee residency requirements in empowerment zones; (3) eliminate certain residency requirements for the empowerment zone employment tax credit; (4) grant authority to expand the boundaries of empowerment zones and enterprise communities, including those located in rural areas; (5) allow carryovers of unused expensing allowances for enterprise zone businesses; (6) allow certain empowerment zone businesses to elect to receive payments in lieu of tax benefits; (7) allow federal guarantees and tax exemptions for enterprise zones and renewal communities; and (8) allow the issuance of tax-exempt rural enterprise community bonds.

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

Timeline

  1. 14 June 2007

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 14 June 2007

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in Senate (text)

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Leesvertaling

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 14 June 2007

    ViewDownloadOpen at official source

  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 14 June 2007

    ViewDownloadOpen at official source

    Leesvertaling

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  • Introduced in Senate

    summary · EN · 14 June 2007

    Open at official source

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Sponsors

Related records

Sources

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