HR 5462 · 102th Congress · Taxation

Urban Entrepreneurial Opportunities Act

Introduced 1992-06-23· Sponsored by Rep. Franks, Gary A. [R-CT-5]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(1992-06-23)

Plain Language Summary

[AI summary unavailable — showing source text] Urban Entrepreneurial Opportunities Act - Amends the Internal Revenue Code to allow a deduction for equity contributions made by a corporation to an urban entrepreneurial opportunity financing subsidiary of such corporation. Requires the subsidiary to use such contribution in making qualified enterprise zone business loans to qualified small business concerns. Establishes an overall program limitation among the contributing corporations to be allocated by the Secretary of Housing and Urban Development.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (20)

1 Democrat19 Republicans
Rep. Michel, Robert H. [R-IL-18]IL
Rep. Gingrich, Newt [R-GA-6]GA
Rep. Lewis, Jerry [R-CA-35]CA
Rep. Edwards, Mickey [R-OK-5]OK
Rep. Hunter, Duncan [R-CA-45]CA
Rep. Weber, Vin [R-MN-2]MN
Rep. Vander Jagt, Guy [R-MI-9]MI
Rep. Hyde, Henry J. [R-IL-6]IL
Rep. Rangel, Charles B. [D-NY-16]NY
Rep. Fish, Hamilton, Jr. [R-NY-21]NY
Rep. Hammerschmidt, John P. [R-AR-3]AR
Rep. Schiff, Steven [R-NM-1]NM
Rep. Armey, Richard K. [R-TX-26]TX
Rep. Vucanovich, Barbara F. [R-NV-2]NV
Rep. Cox, Christopher [R-CA-40]CA
Rep. Gunderson, Steve [R-WI-3]WI
Rep. McDade, Joseph M. [R-PA-10]PA
Rep. Walker, Robert S. [R-PA-16]PA
Rep. Ewing, Thomas W. [R-IL-15]IL
Rep. Broomfield, William S. [R-MI-18]MI