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Tax Credits Boost Investment and Job Creation in Deeply Rural Areas.

This Act establishes a dedicated $1 billion allocation of New Markets Tax Credits (NMTC) specifically for investment in designated "Rural Jobs Zones" over 2023 and 2024. The goal is to incentivize private capital to flow into the most economically distressed, low-income rural communities, fostering job creation and economic stability. Citizens in these specific rural areas may see increased business activity and new employment opportunities.
Key points
Provides $1 billion in tax credit allocations ($500 million each for 2023 and 2024) solely for economic development in defined rural areas.
The funds target low-income communities that are far from major cities (population over 50,000) and their adjacent urbanized areas.
Requires that at least 25% of the investments must be directed toward counties suffering from persistent poverty or high rural migration rates.
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Expired
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Additional Information
Print number: 118_S_1455
Sponsor: Sen. Wicker, Roger F. [R-MS]
Process start date: 2023-05-04
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Rural Jobs Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_1455.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-05-04.

What are the main provisions?

Key points include:

  • Provides $1 billion in tax credit allocations ($500 million each for 2023 and 2024) solely for economic development in defined rural areas.
  • The funds target low-income communities that are far from major cities (population over 50,000) and their adjacent urbanized areas.
  • Requires that at least 25% of the investments must be directed toward counties suffering from persistent poverty or high rural migration rates.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Wicker, Roger F. [R-MS].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Taxes Economy Public Investments