,i  #aacth ,,congress  #b;d ,session    
,h4 ,r4 #ddga  ,,in ,,the ,,house ,,of  
,,representatives  ,april #aj1 #bjad    
,mr4 ,cohen 7for himself1 ,ms4 ,kelly of
 ,illinois1 ,ms4 ,tsongas1 ,ms4 ,norton1
 and ,ms4 ,wilson of ,florida7          
introduced the following bill2 which was
 referred to the ,committee on ,ways and
 ,means  ,a ,,bill  ,to amend the       
,internal ,revenue ,code of #aihf to    
extend the tax incentives for           
empowerment zones and renewal           
communities4  #a4 ,short title ,this    
,act may be cited as the ,growth ,zones 
,opportunity ,act4  #b4 ,extension of   
empowerment zone tax incentives  7a7 ,in
 general ,clause 7i7 of section         
#acia7;d77#a77;,a7 of the ,internal     
,revenue ,code of #aihf is amended by   
striking ,december #ca1 #bjac and       
inserting ,december #ca1 #bjbj4  7b7    
,increased exclusion of gain on stock of
 empowerment zone businesses            
,subparagraph 7,c7 of section           
#abjb7;a77#b7 of such ,code is amended--

  7#a7 by striking ,december #ca1 #bjah 
and inserting ,december #ca1 #bjbe2 and 
7#b7 by striking #bjah in the heading   
and inserting #bjbe4  7c7 ,treatment of 
certain termination dates specified in  
nominations ,in the case of a           
designation of an empowerment zone the  
nomination for which included a         
termination date which is               
contemporaneous with the date specified 
in subparagraph 7,a77i7 of section      
#acia7;d77#a7 of the ,internal ,revenue 
,code of #aihf 7as in effect before the 
enactment of this ,act71 subparagraph   
7,b7 of such section shall not apply    
with respect to such designation if1    
after the date of the enactment of this 
section1 the entity which made such     
nomination amends the nomination to     
provide for a new termination date in   
such manner as the ,secretary of the    
,treasury 7or the ,secretary's designee7
 may provide4  7d7 ,effective date ,the 
amendments made by this section shall   
apply to periods after ,december #ca1   

#bjac4  #c4 ,extension of renewal       
community tax incentives  7a7           
,additional period ,section #adjj;,e7b7 
of the ,internal ,revenue ,code of #aihf
 is amended by adding at the end the    
following new paragraph3  7#c7          
,additional period ,in the case of any  
designation of an area as a renewal     
community which terminated under        
subparagraph 7,a7 or 7,b7 of paragraph  
7#a7 on ,december #ca1 #bjji--  7,a7    
such designation shall be in effect for 
an additional period beginning on       
,january #a1 #bjad and ending on        
,december #ca1 #bjbj1  7,b7 sections    
#adjj;,f shall be applied with respect  
to such area for such additional        
period--  7i7 by substituting ,december 
#ca1 #bjac for ,december #ca1 #bjja each
 place it appears1  7ii7 by substituting
 ,january #a1 #bjad for ,january #a1    
#bjjb each place it appears1  7iii7 by  
substituting ,january #a1 #bjba for     
,january #a1 #bjaj each place it        
appears1 and  7iv7 by substituting      

,december #ca1 #bjbe for ,december #ca1 
#bjad each place it appears1 and  7,c7  
section #adjj;,j shall be applied with  
respect to such area for such additional
 period--  7i7 by substituting ,december
 #ca1 #bjac for ,december #ca1 #bjja1   
and  7ii7 by substituting ,january #a1  
#bjba for ,january #a1 #bjaj4  4  7b7   
,effective date ,the amendment made by  
this section shall apply to periods     
after ,december #ca1 #bjac4