S. 1551: Economic Freedom Zones Act of 2017

115th Congress · introduced 2017-07-13 · Economics and Public Finance · Latest: Read twice and referred to the Committee on Finance.

federal

Follow this bill, step by step

Where it came from: introduced 2017-07-13 · official record
Who proposed it: Sen. Paul, Rand [R-KY] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Finance. 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.

What does this mean?

Official title

Economic Freedom Zones Act of 2017

Plain summary

Economic Freedom Zones Act of 201 7 This bill prohibits the federal government from providing: (1) assistance (e.g., loans, loan guarantees, or purchases) to a municipality or zip code, other than the assistance provided for in this bill for an area designated as an Economic Freedom Zone; and (2) financial assistance to a bankrupt or insolvent municipality, except as provided by this bill. The bill sets forth requirements for designating municipalities, counties, cities, and zip codes as zones for a 10-year period, including bankruptcy eligibility, risk of insolvency, pervasive poverty, unemployment, and general distress. The bill amends the Internal Revenue Code to allow reduced tax rates, tax credits, tax-exempt educational savings accounts, increased expensing of business property, and other tax incentives for individuals and businesses located in or investing in a zone. The zones are exempt from compliance with: (1) specified environmental regulations, (2) the Wild and Scenic Rivers Act, (3) requirements applicable to a National Heritage Area, and (4) wage rate requirements under the Davis-Bacon Act. The bill amends the Elementary and Secondary Education Act of 1965 to allow a special allocation of grant funds for children from families who reside in a zone and have incomes below the federal poverty level. The Department of Homeland Security may issue special visas to aliens meeting certain capital, educational, and skill requirements who intend to enter the United States to invest in a zone.

Congressional Research Service summary (Introduced in Senate), 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

Economic Freedom Zones Act of 2017

Source: Congressional Research Service summary (Introduced in Senate)

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Alternatives

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

Officials and money

Sponsor: Sen. Paul, Rand [R-KY] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Mitch McConnell (R-KY)

Sponsor's campaign money: Sen. Paul, Rand [R-KY] reported raising $4.6 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.

Words on this page, explained (4)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Exemption: A rule that removes certain people, property or activities from a tax or requirement.
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.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-115s1551.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/115/s>

Record fed-us-cong115-s1551 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115