,,ii  #aad? ,,congress  #a/ ,session    
,s4 #djh  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,febru>y #e1 #bjae,ms4 
,/ab5[ 7= h]self & ,mr4 ,blunt7         
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to modify ! rules 
= tax-exempt ent]prise zone facility    
bonds & to ext5d ! tax inc5tives =      
emp[]m5t zones4  #a4 ,%ort title ,?is   
,act may be cit$ z ! ,emp[]+ ,jobs ,act 
( #bjae4  #b4 ,modification ( rules =   
tax-exempt ent]prise zone facility bonds
  7a7 ,9 g5]al ,clause 7i7 ( section    
#acid7;b77#c77;,b7 ( ! ,int]nal ,rev5ue 
,code ( #aihf is am5d$--  7#a7 by /rik+ 
,ref]5ces & ins]t+ ! foll[+3  7,i7 ,9   
g5]al ,except z provid$ 9 subclause     
7,,ii71 ref]5ces  1 &  7#b7 by add+ at !
 end ! foll[+ new subclause3  7,,ii7    
,special rule = employee resid5ce te/ ,=
 purposes ( subsection 7b77#f7 & 7c77#e7
 ( section #acig;,c1 an employee %all be
 treat$ z a resid5t ( an emp[]m5t zone  

if su* employee is a resid5t ( an       
emp[]m5t zone1 an ent]prise community1  
or a qualifi$ l[-income community )9 an 
applicable nom9at+ jurisdiction4  4  7b7
 ,def9itions  7#a7 ,qualifi$ l[-income  
community ,p>agraph 7#c7 ( section      
#acid7;b7 ( ! ,int]nal ,rev5ue ,code (  
#aihf is am5d$ by r$esignat+            
subp>agraphs 7,c7 & 7,d7 z subp>agraphs 
7,d7 & 7,e71 respectively1 & by ins]t+  
aft] subp>agraph 7,b7 ! foll[+ new      
subp>agraph3  7,c7 ,qualifi$ l[-income  
community ,= purposes ( subp>agraph     
7,b7-- 7i7 ,9 g5]al ,! t]m qualifi$     
l[-income community means any population
 c5sus tract if--  7,i7 ! pov]ty rate = 
su* tract is at lea/ #bj p]c5t1 or      
7,,ii7 ! m$ian family income = su* tract
 does n exce$ #hj p]c5t ( /atewide m$ian
 family income 7or1 9 ! case ( a tract  
locat$ )9 a metropolitan area1          
metropolitan area m$ian family income if
 great]74  ,subclause 7,,ii7 %all be    
appli$ us+ possessionwide m$ian family  
income 9 ! case ( c5sus tracts locat$ )9

 a possession ( ! ,unit$ ,/ates4  7ii7  
,t>get$ populations ,! ,secret>y %all   
prescribe regulations "u :i* #a or m    
t>get$ populations 7)9 ! mean+ ( section
 #ajc7bj7 ( ! ,riegle ,community        
,developm5t & ,regulatory ,improvem5t   
,act ( #aiid7 may be treat$ z a qualifi$
 l[-income communities4  7iii7 ,areas n 
)9 c5sus tracts ,9 ! case ( an area :i* 
is n tract$ = population c5sus tracts1 !
 equival5t c\nty divisions 7z def9$ by !
 ,bureau ( ! ,c5sus = purposes ( def9+  
pov]ty areas7 %all be us$ = purposes (  
det]m9+ pov]ty rates & m$ian family     
income4  7iv7 ,modification ( income    
requirem5t = c5sus tracts )9 high       
migration rural c\nties  7,i7 ,9 g5]al  
,9 ! case ( a population c5sus tract    
locat$ )9 a high migration rural c\nty1 
clause 7i77,,ii7 %all be appli$ to areas
 n locat$ )9 a metropolitan area by     
sub/itut+ #he p]c5t = #hj p]c5t4  7,,ii7
 ,high migration rural c\nty ,= purposes
 ( ?is clause1 ! t]m high migration     
rural c\nty means any c\nty :i*1 dur+ ! 

#bj-ye> p]iod end+ ) ! ye> 9 :i* ! mo/  
rec5t c5sus 0 conduct$1 has a net       
out-migration ( inhabitants f ! c\nty ( 
at lea/ #aj p]c5t ( ! population ( !    
c\nty at ! beg9n+ ( su* p]iod4  4  7#b7 
,applicable nom9at+ jurisdiction        
,subp>agraph 7,d7 ( section             
#acid7;b77#c7 ( su* ,code1 z r$esignat$ 
by p>agraph 7#a71 is am5d$ by add+ at ! 
end ! foll[+ new clause3  7iii7         
,applicable nom9at+ jurisdiction ,! t]m 
applicable nom9at+ jurisdiction means1 )
 respect to any emp[]m5t zone or        
ent]prise community1 any local gov]nm5t 
t nom9at$ su* community = designation "u
 section #acia4  4  7c7 ,con=m+ am5dm5ts
  7#a7 ,clause 7iii7 ( section          
#acid7;b77#c77;,b7 ( su* ,code is am5d$ 
by /rik+ or an ent]prise community &    
ins]t+ 1 an ent]prise community1 or a   
qualifi$ l[-income community )9 an      
applicable nom9at+ jurisdiction4  7#b7  
,subp>agraph 7,d7 ( section             
#acid7;b77#c7 ( su* ,code1 z r$esignat$ 
by subsection 7b77#a71 is am5d$ by /rik+

 ,def9itions & ins]t+ ,o!r def9itions4  
7d7 ,effective date ,! am5dm5ts made by 
?is section %all apply to bonds issu$   
be=e1 on1 or aft] ! date ( ! enactm5t ( 
?is ,act & n r$eem$ be=e ! date ( !     
enactm5t ( ?is ,act4  #c4 ,ext5sion (   
emp[]m5t zone tax inc5tives  7a7 ,9     
g5]al ,clause 7i7 ( section             
#acia7;d77#a77;,a71 z am5d$ by ! ,tax   
,increase ,prev5tion ,act ( #bjad1 is   
am5d$ by /rik+ ,decemb] #ca1 #bjad &    
ins]t+ ,decemb] #ca1 #bjaf4  7b7        
,treatm5t ( c]ta9 t]m9ation dates       
specifi$ 9 nom9ations ,9 ! case ( a     
designation ( an emp[]m5t zone !        
nom9ation = :i* includ$ a t]m9ation date
 :i* is contemporane\s ) ! date specifi$
 9 subp>agraph 7,a77i7 ( section        
#acia7;d77#a7 ( ! ,int]nal ,rev5ue ,code
 ( #aihf 7z 9 effect be=e ! enactm5t (  
?is ,act71 subp>agraph 7,b7 ( su*       
section %all n apply ) respect to su*   
designation if1 aft] ! date ( ! enactm5t
 ( ?is section1 ! entity :i* made su*   
nom9ation am5ds ! nom9ation to provide =

 a new t]m9ation date 9 su* mann] z !   
,secret>y ( ! ,treasury 7or !           
,secret>y's designee7 may provide4  7c7 
,effective dates ,! am5dm5t made by     
subsection 7a7 %all apply to p]iods aft]
 ,decemb] #ca1 #bjad4