HR 2254 · 105th Congress · Taxation

To amend the Internal Revenue Code of 1986 to allow a credit against income tax for equity investments in community development financial institutions.

Introduced 1997-07-24· Sponsored by Rep. Kennedy, Joseph P., II [D-MA-8]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(1997-07-24)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow a (temporary) business-related credit for qualified equity investments in community development financial institutions. Sets forth credit limitation, recapture, deduction for unused credit, and carryback provisions.…

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

Cosponsors (20)

20 Democrats
Rep. Waters, Maxine [D-CA-35]CA
Rep. Becerra, Xavier [D-CA-30]CA
Rep. Bonior, David E. [D-MI-10]MI
Rep. Gonzalez, Henry B. [D-TX-20]TX
Rep. Barrett, Thomas M. [D-WI-5]WI
Rep. Brown, Corrine [D-FL-3]FL
Rep. Brown, George E., Jr. [D-CA-42]CA
Rep. Carson, Julia [D-IN-10]IN
Rep. Coyne, William J. [D-PA-14]PA
Rep. Davis, Danny K. [D-IL-7]IL
Rep. DeFazio, Peter A. [D-OR-4]OR
Del. Faleomavaega, Eni F. H. [D-AS-At Large]AS
Rep. Fattah, Chaka [D-PA-2]PA
Rep. Filner, Bob [D-CA-50]CA
Rep. Flake, Floyd H. [D-NY-6]NY
Rep. Frank, Barney [D-MA-4]MA
Rep. Gutierrez, Luis V. [D-IL-4]IL
Rep. Hinchey, Maurice D. [D-NY-26]NY
Rep. Hinojosa, Ruben [D-TX-15]TX
Rep. Jackson, Jesse L., Jr. [D-IL-2]IL