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To amend the Internal Revenue Code of 1986 to provide tax incentives for the establishment of supermarkets in certain underserved areas.
Amends the Internal Revenue Code to: (1) increase the rate of the rehabilitation tax credit for a supermarket building placed in service after December 31, 2010, and before January 1, 2013, in an underserved area (i.e., any enterprise community or empowerment zone and any renewal community); (2) increase by $1,000 the amount of wages paid to an employee of a supermarket in an underserved area that is eligible for the work opportunity tax credit; and (3) allow a business-related tax credit for 15% of the gross receipts from the retail sale of locally grown fresh fruits and vegetables in a supermarket in an underserved area.
- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Ways and MeansIntroducedJuly 1st, 2010
- house Committees