Bringing Business Back Act of 2016

Summary

Bringing Business Back Act of 2016 This bill amends the Internal Revenue Code to allow income or gain attributable to certain real property to be excluded from gross income for a one-year period in which the income attributable to the real property exceeds the pre-depreciation expenses attributable to the property. The exclusion applies to real property that has been certified by the state or local zoning authority and any economic development board as: (1) zoned for commercial use, (2) undeveloped and vacant during the two-year period ending on the date of certification, and (3) located within a qualified census tract. A "qualified census tract" is any census tract that: (1) has an average poverty rate exceeding the national average poverty rate or an unemployment rate above the national unemployment rate; and (2) exhibits another condition of distress, such as deteriorating infrastructure or population decline. A census tract is also qualified if it is located in a rural community that: (1) has an unemployment rate of at least 6%, and (2) in which at least 50% of the houses were constructed before 1980.

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Timeline

1. 20 September 2016

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 20 September 2016

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 20 September 2016 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 20 September 2016

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 20 September 2016

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 20 September 2016

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Kirk, Mark Steven [R-IL] · R · Sponsor
• Sen. Manchin, Joe, III [D-WV] · D · Sponsor
• · ssfi00 · Standing

Related records

• related to → Small Business Bill of Rights