Neighborhood Government Act

Summary

Neighborhood Government Act - Declares the purposes of this Act. Allows, under the Internal Revenue Code, a tax credit of the amount contributed to a certified neighborhood corporation and paid during that year, subject to enumerated limitations. Provides that a corporation may be certified upon application if it: (1) is organized under the laws of the State in which it is located as a corporation not for profit and restricts its operations to the single neighborhood it was designed to serve; (2) is organized for the purpose of supplying services to its members which were supplied by a municipal or other government prior to the establishment of the corporation; and (3) demonstrates a capacity to supply such services in an adequate and satisfactory manner. States that upon application from a certified neighborhood corporation, the Secretary of the Treasury is authorized to pay to such corporation for general corporate use an amount equal to a part of the amount of non-Federal taxes paid by members of that corporation to State and local governments. Authorizes to be appropriated such sums as may be necessary to carry out the provisions of this Act.

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1 official file

• Introduced in Senate

  summary · EN · 28 July 1975

  Open at official source

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