Promise Zone Job Creation Act of 2014
Latest action · Jun 23, 2014 Referred to the House Committee on Ways and Means.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJun 23, 2014
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Promise Zone Job Creation Act of 2014 - Amends the Internal Revenue Code to direct the Secretary of Housing and Urban Development (HUD) and the Secretary of Agriculture (USDA) to designate up to 20 areas as Promise Zones for purposes of priority consideration in federal grant programs and initiatives.
Defines a "Promise Zone" as any area with a continuous boundary and a population of not more than 200,000 that is nominated by a local government or Indian tribe and designated on the basis of its unemployment rate, poverty rate, household income, labor force participation, and educational attainment. Requires an application for designation as a Promise Zone to include a competitiveness plan that addresses the need of the area to attract investment and jobs and improve educational opportunities.
Allows: (1) a Promise Zone employment tax credit for wages paid to a qualified zone or resident employee, and (2) expensing of Promise Zone property.
Defines "Promise Zone property" as property that is: (1) tangible property with a recovery period of 20 years or less for depreciation purposes, water utility property, computer software, or qualified leasehold improvement property; (2) acquired by purchase for use in the active conduct of a trade or business; and (3) originally placed in service in a Promise Zone.
Cosponsors
Members who signed on, in the order they did.
Actions 2
Everything that happened, newest first.
- Jun 23, 2014Introduced in House
- Jun 23, 2014Referred to the House Committee on Ways and Means.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 2597 | Promise Zone Job Creation Act of 2014 | Related bill | Jul 14, 2014 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Jun 23, 2014Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.