National Enterprise Zone Act of 2004

Summary

National Enterprise Zone Act of 2004 - Amends the Internal Revenue Code to authorize: (1) the governor of a State or U.S. territory or the Mayor of the District of Columbia to nominate by written application one or more enterprise zones for consideration by the Secretary of the Treasury; and (2) any resident of an enterprise zone, including estates, trusts, and corporations (other than S corporations), to elect an alternative income tax based upon National Enterprise Zone taxable income. Sets forth: (1) procedures for applications and eligibility criteria for designating an enterprise zone, including population, poverty, and unemployment rate requirements; and (2) rules for determining National Enterprise Zone taxable income for individuals and corporations residing in such a Zone. Requires all jurisdictions seeking enterprise zone designations to be in substantial compliance with the No Child Left Behind Act of 2001 and certain tax laws.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 22 July 2004

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 22 July 2004

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• Introduced in Senate

  summary · EN · 22 July 2004

  Open at official source

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