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Rural Jobs Act

12/15/2023, 4:01 PM

Congressional Summary of HR 5026

Rural Jobs Act

This bill allocates an additional $500 million in 2023 and another $500 million in 2024 for new markets tax credit investments in the Rural Jobs Zone (an area comprised of low-income communities with populations not greater than 50,000 that are not adjacent to an urbanized area). The bill also requires that at least 25% of such investments be made in areas that are persistent poverty counties, high migration rural counties, or both.

Read the Full Bill

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Current Status of Bill HR 5026

Bill HR 5026 is currently in the status of Bill Introduced since July 27, 2023. Bill HR 5026 was introduced during Congress 118 and was introduced to the House on July 27, 2023.  Bill HR 5026's most recent activity was Referred to the House Committee on Ways and Means. as of July 27, 2023

Bipartisan Support of Bill HR 5026

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
1
Democrat Cosponsors
1
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 5026

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 5026

Rural Jobs Act
Rural Jobs Act
To amend the Internal Revenue Code of 1986 to provide for new markets tax credit investments in the Rural Jobs Zone.

Comments

Sponsors and Cosponsors of HR 5026

Carol D. Miller
Carol D. Miller
West VirginiaRepublican
Terri A. Sewell
Terri A. Sewell
AlabamaDemocrat

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