To amend the Internal Revenue Code of 1986 to allow unpopulated census tracts that are contiguous to low-income communities to be treated as low-income communities under the new markets tax credit.

S. 3479 · 114th Congress · Nov 17, 2016 · Lineage

A BILL

(a)

In general— Section 45D(e)(4)(A) of the Internal Revenue Code of 1986 is amended—

(1)

by striking “is within” and inserting

“(i) within”

(2)

by striking “and” at the end and inserting “or”, and

(3)

by adding at the end the following new clause:

“(ii) a census tract with a population of zero, and”

(b)

Effective date— The amendments made by this section shall apply to investments made after the date of the enactment of this Act.