Internal Revenue Code:Sec. 1400H. Renewal community employment credit

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Contents


Location in Internal Revenue Code


     TITLE 26 - INTERNAL REVENUE CODE
      Subtitle A - Income Taxes
       CHAPTER 1 - NORMAL TAXES AND SURTAXES
        Subchapter X - Renewal Communities
         PART III - ADDITIONAL INCENTIVES

Statute

    Sec. 1400H. Renewal community employment credit
 
    (a) In general
      Subject to the modification in subsection (b), a renewal
    community shall be treated as an empowerment zone for purposes of
    section 1396 with respect to wages paid or incurred after December
    31, 2001.
    (b) Modification
      In applying section 1396 with respect to renewal communities -
        (1) the applicable percentage shall be 15 percent, and
        (2) subsection (c) thereof shall be applied by substituting
      ''$10,000'' for ''$15,000'' each place it appears.

Sources

    (Added Pub. L. 106-554, Sec. 1(a)(7) (title I, Sec. 101(a)), Dec.
    21, 2000, 114 Stat. 2763, 2763A-596.)
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