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An empowerment zone is a community eligible for tax incentives and grants from the US federal government under the Empowerment Zones and Enterprise Communities Act of 1993. The program aims to revitalize economically distressed urban and rural areas that have experienced poverty and/or high emigration.
(Sec. 163) Extends the DC homebuyer tax credit for two additional years. (Sec. 164) Extends DC Enterprise Zone provisions for an additional year. (Sec. 165) Expands and extends the enhanced deduction for corporate donations of computer technology. (Sec. 166) Provides for the treatment of Indian tribal governments under Federal Unemployment Tax Act.
Three primary means were used: renewal communities, empowerment zones, and community development entities. [2] The bill also created the New Markets Tax Credit Program, which has been renewed several times and is still in effect. [3] One provision of the Community Renewal Tax Relief Act of 2000 was the creation of 40 "renewal communities". [2]
Opportunity zone is a designation and investment program created by the 2017 Tax Cuts and Jobs Act, allowing for certain investments in lower income areas to have tax advantages. Learn about the history, requirements, tax benefits, and criticisms of this policy, as well as the list of 8,764 Opportunity Zones in the U.S.
HUBZone is a program by the US Small Business Administration that certifies small businesses that operate and employ people in economically disadvantaged areas. The program aims to increase federal contracting opportunities for HUBZone firms, but faces challenges and limitations.
QZABs are a type of U.S. government debt instrument for public school renovation and special programs. They were eliminated in 2018 and only applied to certain schools in empowerment zones or with high poverty rates.
CSBG is a federal funding program for anti-poverty programs at the community level. It was created in 1981 and administered by the Department of Health and Human Services.
The tax break comes from Fort Worth’s Neighborhood Empowerment Zone program, which is meant to promote affordable housing and economic development in the central city. Anyone building a house ...