H.R. 5718: To amend the Internal Revenue Code of 1986 to revise the new market tax credit rules for population census tracts with low populations.
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H.R. 5718: To amend the Internal Revenue Code of 1986 to revise the new market tax credit rules for population census tracts with low populations.
112th Congress · introduced 2012-05-10 · Taxation · Latest: Referred to the House Committee on Ways and Means.
federal
Follow this bill, step by step
- Where it came from: introduced 2012-05-10 · official record
- Who proposed it: Rep. Towns, Edolphus [D-NY-10] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- 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.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
To amend the Internal Revenue Code of 1986 to revise the new market tax credit rules for population census tracts with low populations.
Plain summary
Amends the Internal Revenue Code, with respect to the new markets tax credit, to expand criteria for the designation of a census track with a population of less than 2,000 as a low-income community for purposes of such credit to include consideration of the poverty rate, median family income, or unemployment rate in such community.
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
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A “Yea” vote
If it passes both chambers and is signed, it becomes law.
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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 revise the new market tax credit rules for population census tracts with low populations.
Source: Congressional Research Service summary (Introduced in House)
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Towns, Edolphus [D-NY-10] · 0 cosponsors
Cost estimate: No cost estimate published yet.
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.
Words on this page, explained (1)
- Rulemaking
- The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112hr5718.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/hr>
Record fed-us-cong112-hr5718 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112