Community Renewal Tax Relief Act of 2000
E65828
The Community Renewal Tax Relief Act of 2000 is a U.S. federal law that created a range of tax incentives and community development tools, including the New Markets Tax Credit, to spur investment and economic revitalization in low-income and distressed areas.
Statements (47)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal statute
→
|
| alsoKnownAs |
CRTRA 2000
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|
| amends |
Internal Revenue Code of 1986
→
|
| appliesTo |
distressed areas
→
low-income communities → |
| country |
United States
→
|
| createdProgram |
New Markets Tax Credit
→
Renewal Communities program → expanded Empowerment Zones program → |
| enactedBy |
106th United States Congress
→
|
| executiveBranch |
President of the United States
→
|
| focusesOn |
community development
→
economic revitalization → tax incentives → |
| hasComponent |
Empowerment Zones expansion provisions
→
New Markets Tax Credit provisions → Renewal Communities designation rules → |
| hasLegalEffect |
modifies federal tax liabilities for qualifying investments
→
|
| implementedThrough |
Community Development Financial Institutions Fund
→
Internal Revenue Service → U.S. Department of the Treasury → |
| jurisdiction |
United States federal government
→
|
| legalForm |
omnibus tax and appropriations legislation component
→
|
| legislativeBranch |
United States Congress
→
|
| partOf |
Consolidated Appropriations Act, 2001
→
|
| policyGoal |
encourage job creation in distressed communities
→
promote community revitalization → spur private investment in low-income areas → |
| provides |
tax credits for investments in qualified community development entities
→
tax incentives for businesses in designated Renewal Communities → |
| publicLawNumber |
Public Law 106-554
→
|
| relatedTo |
Community Development Financial Institutions program
→
Empowerment Zones and Enterprise Communities program → |
| sectorAffected |
community development finance
→
real estate development in low-income areas → small business investment in distressed communities → |
| shortTitle |
Community Renewal Tax Relief Act of 2000
→
|
| signedBy |
Bill Clinton
→
|
| signingDate |
2000-12-21
→
|
| statutesAtLargeCitation |
114 Stat. 2763A
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|
| subjectMatter |
federal income tax
→
place-based economic policy → |
| targetPopulation |
businesses operating in designated communities
→
residents of low-income communities → |
| timePeriod |
early 21st century United States tax policy
→
|
| titleOfLargerAct |
Title I of the Consolidated Appropriations Act, 2001
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|
| yearOfEnactment |
2000
→
|
Referenced by (2)
| Subject (surface form when different) | Predicate |
|---|---|
|
NMTC Program
→
|
legalAuthority |
|
Community Renewal Tax Relief Act of 2000
→
|
shortTitle |