,,ii  #aadth ,,congress  #b;d ,session  
,s4 #c  ,,in ,,the ,,senate ,,of ,,the  
,,united ,,states  ,november #ae1 #bjaf 
,mrs4 ,capito introduced the following  
bill2 which was read twice and referred 
to the ,committee on ,finance  ,a ,,bill
  ,to amend the ,internal ,revenue ,code
 of #aihf to provide additional new     
markets tax credits for distressed coal 
communities4  #a4 ,short title ,this    
,act may be cited as the ,creating      
,opportunities for ,rural ,economic     
,expansion ,act or the ,,core ,act4  #b4
 ,additional new markets tax credit for 
distressed coal communities  7a7 ,in    
general ,section #de;,d7f7 of the       
,internal ,revenue ,code of #aihf is    
amended by adding at the end the        
following new paragraph3  7#d7 ,set     
aside of portion of limitation for      
distressed coal communities  7,a7 ,in   
general ,for any calendar year after    
#bjaf1 not less than #e percent of the  
new markets tax credit limitation shall 
be allocated to qualified community     

development entities in connection with 
qualified investments the proceeds of   
which are substantially used to make    
qualified coal community investments4   
7,b7 ,qualified coal community          
investment ,for purposes of this        
paragraph-- 7i7 ,in general ,the term   
qualified coal community investment     
means--  7,i7 any capital or equity     
investment in1 or loan to1 any qualified
 active distressed coal community       
business1  7,,ii7 the purchase from     
another community development entity of 
any loan made by such entity which is a 
qualified coal community investment1    
7,,iii7 financial counseling and other  
services specified in regulations       
prescribed by the ,secretary to         
businesses located in1 and residents of1
 distressed coal communities1 and       
7,,iv7 any equity investment in1 or loan
 to1 any qualified community development
 entity in connection with qualified    
investments the proceeds of which are   
substantially used to make qualified    

coal community investments4  7ii7       
,qualified active distressed coal       
community business ,the term qualified  
active coal community business means any
 business which would be a qualified    
active low-income community business if 
paragraphs 7#b7 and 7#c7 of subsection  
7d7 were applied by substituting        
distressed coal community for low-income
 community each place it appears4  7iii7
 ,distressed coal community  7,i7 ,in   
general ,the term distressed coal       
community means any low-income community
 which is located in a county which--   
7aa7 was one of the #cj counties with   
the biggest employment decrease among   
coal operators 7as determined under     
reports issued by the ,mine ,safety and 
,health ,administration7 for an         
applicable period1 or  7bb7 is          
contiguous to a county which-- 7,,aa7 is
 described in item 7aa7 and is within   
the same ,state as such county1 and     
7,,bb7 contains not less than #a        
low-income community4  7,,ii7           

,applicable periods ,for purposes of    
subclause 7,i77aa71 the term applicable 
period means any of the following       
periods3  7aa7 ,calendar year #bjac     
compared to calendar year #bjab4  7bb7  
,calendar year #bjad compared to        
calendar year #bjac4  7cc7 ,calendar    
year #bjae compared to calendar year    
#bjad4  7,c7 ,limitation of allocation  
of set aside  7i7 ,in general ,in       
allocating the portion of the new       
markets tax credit limitation to which  
subparagraph 7,a7 applies1 the          
,secretary shall ensure that1 with      
respect to any eligible ,state1 not less
 than the minimum percentage of such    
limitation is allocated to qualified    
community development entities making   
qualified coal community investments in 
such eligible ,state4  7ii7 ,minimum    
percentage ,for purposes of clause 7i71 
the minimum percentage for any eligible 
,state is the percentage equal to #hj   
percent of the ratio of--  7,i7 the     
qualified coal operator employment      

decrease in such ,state1 to  7,,ii7 the 
total qualified coal operator employment
 decrease in all eligible ,states4      
7iii7 ,qualified coal operator          
employment decrease ,for purposes of    
clause 7ii71 the term qualified coal    
operator employment decrease means1 with
 respect to any eligible ,state1 the    
aggregate amount of employment decrease 
among coal operators for all counties in
 such ,state--  7,i7 in which there is a
 low-income community1 and  7,,ii7 which
 are taken into account under item 7aa7 
of subparagraph 7,b77iii77,i74  7iv7    
,eligible ,state ,for purposes of this  
subparagraph1 the term eligible ,state  
means any ,state in which there is a    
distressed coal community4  7,d7        
,application of carryover ,paragraph    
7#c7 shall be applied separately with   
respect to amounts described in         
subparagraph 7,a74  4  7b7 ,application 
of recapture rules ,section             
#de;,d7g77#c77;,b7 of the ,internal     
,revenue ,code of #aihf is amended by   

inserting 7or1 in the case of an        
investment described in subsection      
7f77#d71 as required under such         
subsection7 after 7b77#a77;,b74