II
110th CONGRESS
1st Session
S. 943
IN THE SENATE OF THE UNITED STATES
March 20, 2007
Ms. Snowe (for herself and Ms. Collins) introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to extend the period for which the designation of an area as an empowerment zone is in effect.
Extension of round II and round III empowerment zones
In general
Clause (i) of section
1391(d)(1)(A) of the Internal Revenue Code of 1986 (relating to period for
which designation is in effect) is amended by inserting (December 31,
2016, in the case of any empowerment zone designated under subsection (g) or
(h))
after 2009
.
Conforming amendment
Paragraph (2) of
section 1391(h) of the Internal Revenue Code of 1986 (relating to additional
designations permitted) is amended by striking 2009
and
inserting 2016
.
Effective date
The amendments made by this section shall take effect on the date of the enactment of this Act.