,,ii #aadth ,,congress #ast ,session ,s4 #djh ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,february #e1 #bjae,ms4 ,stabenow 7for herself and ,mr4 ,blunt7 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 modify the rules for tax-exempt enterprise zone facility bonds and to extend the tax incentives for empowerment zones4 #a4 ,short title ,this ,act may be cited as the ,empowering ,jobs ,act of #bjae4 #b4 ,modification of rules for tax-exempt enterprise zone facility bonds 7a7 ,in general ,clause 7i7 of section #acid7;b77#c77;,b7 of the ,internal ,revenue ,code of #aihf is amended-- 7#a7 by striking ,references and inserting the following3 7,i7 ,in general ,except as provided in subclause 7,,ii71 references 1 and 7#b7 by adding at the end the following new subclause3 7,,ii7 ,special rule for employee residence test ,for purposes of subsection 7b77#f7 and 7c77#e7 of section #acig;,c1 an employee shall be treated as a resident of an empowerment zone if such employee is a resident of an empowerment zone1 an enterprise community1 or a qualified low-income community within an applicable nominating jurisdiction4 4 7b7 ,definitions 7#a7 ,qualified low-income community ,paragraph 7#c7 of section #acid7;b7 of the ,internal ,revenue ,code of #aihf is amended by redesignating subparagraphs 7,c7 and 7,d7 as subparagraphs 7,d7 and 7,e71 respectively1 and by inserting after subparagraph 7,b7 the following new subparagraph3 7,c7 ,qualified low-income community ,for purposes of subparagraph 7,b7-- 7i7 ,in general ,the term qualified low-income community means any population census tract if-- 7,i7 the poverty rate for such tract is at least #bj percent1 or 7,,ii7 the median family income for such tract does not exceed #hj percent of statewide median family income 7or1 in the case of a tract located within a metropolitan area1 metropolitan area median family income if greater74 ,subclause 7,,ii7 shall be applied using possessionwide median family income in the case of census tracts located within a possession of the ,united ,states4 7ii7 ,targeted populations ,the ,secretary shall prescribe regulations under which #a or more targeted populations 7within the meaning of section #ajc7bj7 of the ,riegle ,community ,development and ,regulatory ,improvement ,act of #aiid7 may be treated as a qualified low-income communities4 7iii7 ,areas not within census tracts ,in the case of an area which is not tracted for population census tracts1 the equivalent county divisions 7as defined by the ,bureau of the ,census for purposes of defining poverty areas7 shall be used for purposes of determining poverty rates and median family income4 7iv7 ,modification of income requirement for census tracts within high migration rural counties 7,i7 ,in general ,in the case of a population census tract located within a high migration rural county1 clause 7i77,,ii7 shall be applied to areas not located within a metropolitan area by substituting #he percent for #hj percent4 7,,ii7 ,high migration rural county ,for purposes of this clause1 the term high migration rural county means any county which1 during the #bj-year period ending with the year in which the most recent census was conducted1 has a net out-migration of inhabitants from the county of at least #aj percent of the population of the county at the beginning of such period4 4 7#b7 ,applicable nominating jurisdiction ,subparagraph 7,d7 of section #acid7;b77#c7 of such ,code1 as redesignated by paragraph 7#a71 is amended by adding at the end the following new clause3 7iii7 ,applicable nominating jurisdiction ,the term applicable nominating jurisdiction means1 with respect to any empowerment zone or enterprise community1 any local government that nominated such community for designation under section #acia4 4 7c7 ,conforming amendments 7#a7 ,clause 7iii7 of section #acid7;b77#c77;,b7 of such ,code is amended by striking or an enterprise community and inserting 1 an enterprise community1 or a qualified low-income community within an applicable nominating jurisdiction4 7#b7 ,subparagraph 7,d7 of section #acid7;b77#c7 of such ,code1 as redesignated by subsection 7b77#a71 is amended by striking ,definitions and inserting ,other definitions4 7d7 ,effective date ,the amendments made by this section shall apply to bonds issued before1 on1 or after the date of the enactment of this ,act and not redeemed before the date of the enactment of this ,act4 #c4 ,extension of empowerment zone tax incentives 7a7 ,in general ,clause 7i7 of section #acia7;d77#a77;,a71 as amended by the ,tax ,increase ,prevention ,act of #bjad1 is amended by striking ,december #ca1 #bjad and inserting ,december #ca1 #bjaf4 7b7 ,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 7c7 ,effective dates ,the amendment made by subsection 7a7 shall apply to periods after ,december #ca1 #bjad4