Bill > S408

This bill, titled the Empowering Jobs Act of 2015, modifies rules for tax-exempt enterprise zone facility bonds and extends tax incentives for empowerment zones. Specifically, it amends the Internal Revenue Code of 1986 to allow employees to be considered residents of an empowerment zone if they reside in an empowerment zone, an enterprise community, or a qualified low-income community within an applicable nominating jurisdiction, broadening the scope for tax benefits. The bill also defines "qualified low-income community" based on poverty rates and median family income, with special provisions for areas not within census tracts and for high migration rural counties, and clarifies the definition of an "applicable nominating jurisdiction" as the local government that nominated a community for designation. Furthermore, it extends the expiration date for empowerment zone tax incentives from December 31, 2014, to December 31, 2016, and allows for amendments to existing nominations to reflect this extended period.