To amend the Internal Revenue Code of 1986 to provide tax incentives with respect to enterprise zones and areas affected by military base closings or reductions in military base employment.

[AI summary unavailable — showing source text] TABLE OF CONTENTS: Title I: Provisions Relating to Distressed Urban and Rural Areas Subtitle A: Designation and Tax Incentives Subtitle B: Redevelopment Bonds for Tax Enterprise Zones Title II: Areas Affected by Military Base Closings or Reductions in Military Base Employment Treated as Enterprise Zones Title I: Provisions Relating to Distressed Urban and Rural Areas - Declares it to be the purpose of this title to establish a demonstration program of providing incentives for the creation of tax enterprise zones in order to: (1) revitalize economically and physically distressed areas; (2) promote meaningful employment for zone residents; and (3) encourage individuals to reside in the zones in which they are employed. Subtitle A: Designation and Tax Incentives - Amends the Internal Revenue Code to provide for the designation of tax enterprise zones during calendar years after 1991 and before 1997: (1) by the Secretary of Housing and Urban Development, in the case of an urban tax enterprise zone; and (2) by the Secretary of Agriculture, in the case of a rural development investment zone. Sets forth the eligibility criteria for such designation for urban tax enterprise zones and for r…