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.)