- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Ways and MeansIntroducedJuly 30th, 2010
- house Committees
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Bringing Business Back Act of 2010
To amend the Internal Revenue Code of 1986 to exclude income attributable to certain empowerment zone real property from gross income.
Bringing Business Back Act of 2010 - Amends the Internal Revenue Code to exclude from gross income for a specified 10-year period, for income tax purposes, income or gain from real property that is certified as zoned for commercial use, that has been undeveloped and vacant for a 2-year period, and that is located in a qualified census tract. Defines "qualified census tract" as any census tract that has an average poverty and unemployment rate exceeding the national rate and that exhibits another condition of distress, such as high crime, deteriorating infrastructure, or population decline.