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The Empowerment Zone Program consists of three US congressional designations. [2] The Renewal Communities (RCs), Empowerment Zones (EZs) and Enterprise Communities (ECs) are highly distressed urban and rural communities that may be eligible for a combination of grants, tax credits for businesses, bonding authority and other benefits.
Another provision of the Community Renewal Tax Relief Act of 2000 was the improvement and expansion of an existing program of "empowerment zones." [ 2 ] The law authorized the creation of additional empowerment zones, which were originally created in 1993, and the expansion of some of the tax incentives available. [ 2 ]
Three primary means were used: renewal communities, empowerment zones, and community development entities. [2] The bill also created the New Markets Tax Credit Program, which has been renewed several times and is still in effect. [3] One provision of the Community Renewal Tax Relief Act of 2000 was the creation of 40 "renewal communities". [2]
In Jackson County, seniors age 62 or older may qualify for the Senior Quad Pay Program. While this program does not reduce the amount owed on property tax bills, it allows homeowners to space ...
The freeze would prevent taxes from continuing to rise as home values increase over future assessment periods.
The New Markets Tax Credit (NMTC) Program is a federal financial program in the United States. It aims to stimulate business and real estate investment in low-income communities in the United States via a federal tax credit .
The Tax Cuts and Jobs Act of 2017 made major changes to individual and business tax code, particularly as pertains to deductions, depreciation, tax credits and expenses. For businesses, many of ...
Public schools (K-12) located in empowerment zones or enterprise communities and public schools with 35% or more of their student body on the free and/or reduced price lunch programs are eligible to participate. In order for a school district or charter school to participate, a Zone Academy must be created or documented.