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H.R. 2740: To amend the Internal Revenue Code of 1986 to treat certain population census tracts for which information is not available as low-income communities for purposes of the new markets tax credit.

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H.R. 2740: To amend the Internal Revenue Code of 1986 to treat certain population census tracts for which information is not available as low-income communities for purposes of the new markets tax credit.

112th Congress · introduced 2011-08-01 · Taxation · Latest: Referred to the House Committee on Ways and Means.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2011-08-01 · official record
  2. Who proposed it: Rep. Costa, Jim [D-CA-20] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Referred to the House Committee on Ways and Means. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

To amend the Internal Revenue Code of 1986 to treat certain population census tracts for which information is not available as low-income communities for purposes of the new markets tax credit.

Plain summary

Amends the Internal Revenue Code, with respect to eligibility for the new markets tax credit, to treat a population census tract for which the Secretary of the Treasury determines there is insufficient information to determine whether such tract is a low-income community as such a community if: (1) such tract is adjacent to two or more low-income communities, and (2) the Secretary does not have information indicating such tract is not a low-income community.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

To amend the Internal Revenue Code of 1986 to treat certain population census tracts for which information is not available as low-income communities for purposes of the new markets tax credit.

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

Arguments for (supporters)

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Arguments against (opponents)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Costa, Jim [D-CA-20] · 2 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Sponsor's campaign money: Rep. Costa, Jim [D-CA-20] reported raising $1.7 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Sources

Record fed-us-cong112-hr2740 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112