Economic Development Act for Distressed Zones of 2018

[AI summary unavailable — showing source text] [Congressional Bills 115th Congress] [From the U.S. Government Publishing Office] [H.R. 6785 Introduced in House (IH)] <DOC> 115th CONGRESS 2d Session H. R. 6785 To provide tax incentives to promote economic development in Economically Distressed Zones. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES September 12, 2018 Miss Gonzalez-Colon of Puerto Rico (for herself and Mr. Thompson of Mississippi) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To provide tax incentives to promote economic development in Economically Distressed Zones. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Economic Development Act for Distressed Zones of 2018''. SEC. 2. ECONOMICALLY DISTRESSED ZONES. (a) In General.--Chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subchapter: ``Subchapter AA--Economically Distressed Zones ``Sec. 1400AA-1. Economically Distressed Zon…