Title: Economic Freedom Zones Act of 2017
Author: Sen. Rand Paul (REP-KY)
...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. </p> <p>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.</p> <p>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 ...
Introduced in Senate
Read twice and referred to the Committee on Finance.
07/25/2017 - S 1551 (Introduced+in+Senate)
07/13/2017 - S 1551 (Introduced+in+Senate)
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Sen. Rand Paul (R-KY)
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