118th Congress · HOUSE BILLBILL

H.R. 5026 — Rural Jobs Act

“To amend the Internal Revenue Code of 1986 to provide for new markets tax credit investments in the Rural Jobs Zone.”

Taxation

Introduced Jul 27, 2023

Last action Jul 27, 2023

Pipeline · Bill → Law

Step 1

Introduced

Jul 27, 2023

Step 2

Referred

Jul 27, 2023

Ways & Means

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill allocates an additional $500 million in 2023 and another $500 million in 2024 for new markets tax credit investments in the Rural Jobs Zone (an area comprised of low-income communities with populations not greater than 50,000 that are not adjacent to an urbanized area). The bill also requires that at least 25% of such investments be made in areas that are persistent poverty counties, high migration rural counties, or both.

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Jul 27, 2023

Introduced in House

Jul 27, 2023

Referred to the House Committee on Ways and Means.