
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC1400H]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                        Subtitle A--Income Taxes
 
                  CHAPTER 1--NORMAL TAXES AND SURTAXES
 
                    Subchapter X--Renewal Communities
 
                     PART III--ADDITIONAL INCENTIVES
 
Sec. 1400H. Renewal community employment credit


(a) In general

    Subject to the modification in subsection (b), a renewal community 
shall be treated as an empowerment zone for purposes of section 1396 
with respect to wages paid or incurred after December 31, 2001.

(b) Modification

    In applying section 1396 with respect to renewal communities--
        (1) the applicable percentage shall be 15 percent, and
        (2) subsection (c) thereof shall be applied by substituting 
    ``$10,000'' for ``$15,000'' each place it appears.

(Added Pub. L. 106-554, Sec. 1(a)(7) [title I, Sec. 101(a)], Dec. 21, 
2000, 114 Stat. 2763, 2763A-596.)
