S. 3 · 114th Congress
CORE Act
- Stage
- In committee
- Sponsor
- Shelley Capito
- Introduced
- 2016-11-15
- Latest action
- 2016-11-15 · Introduced in Senate
Summary
Creating Opportunities for Rural Economic Expansion Act or the CORE Act
This bill amends the Internal Revenue Code to require at least 5% of the new markets tax credit limitation to be allocated to community development entities in connection with certain investments, financial counseling, and other services in distressed coal communities.
A "distressed coal community" is any low-income community located in a county that: (1) was one of the 30 counties with the biggest employment decrease among coal operators over a specified time period; or (2) is contiguous to a county that has the required decrease in employment, is located in the same state, and contains at least one low-income community.