More Power for Empowerment Zones Act of 1996

[AI summary unavailable — showing source text] TABLE OF CONTENTS: Title I: Tax Treatment of Empowerment Zones and Enterprise Communities Subtitle A: Designation of Additional Empowerment Zones Subtitle B: Increased Incentives for Empowerments Zones and Enterprise Communities Subtitle C: Brownfields Redevelopment Act Title II: Assistance for Infrastructure Improvements and Development Title III: Additional Benefits for Empowerment Zones and Enterprise Communities Title IV: Regulatory Flexibility More Power for Empowerment Zones Act of 1996 - Title I: Tax Treatment of Empowerment Zones and Enterprise Communities - Subtitle A: Designation of Additional Empowerment Zones - Amends the Internal Revenue Code to authorize the designation of additional empowerment zones. Subtitle B: Increased Incentives for Empowerments Zones and Enterprise Communities - Modifies requirements regarding: (1) the tax exempt status of enterprize zone facility bonds; and (2) expensing. (Sec. 114) Excludes from gross income capital gains on zone assets. Allows deductions for the purchase of enterprise zone stock. (Sec. 115) Allows a business investment deduction for commercial revitalization. Subtitle C: Brownfields Redevelopment Act - Allows: (1) a business…