H.R.2238: To amend the Internal Revenue Code of 1986 to extend certain tax benefits related to empowerment zones.

This bill extends the period for the designation of empowerment zones and reinstates the tax credit for holders of qualified zone academy bonds. An empowerment zone is an economically distressed community eligible for various tax incentives and grants from the federal government to promote investment in the community. The bill reinstates and expands the tax credit for holders of qualified zone academy bonds. A qualified zone academy bond is a...

(Source: Library of Congress)