PAR Act

Changes to the Internal Revenue Code: The bill removes the restriction that prevents certain proceeds from being used for private or commercial golf courses and country clubs by striking those terms from Section 144 of the Internal Revenue Code of 1986 (Section 2(a)).

Empowerment Zone Employment Credit: The amendment applies to individuals who begin work for an employer after the date of the Act's enactment regarding section 1396(d)(2) of the Internal Revenue Code of 1986 (Section 2(b)(2)).

Business and Opportunity Zones: For the purposes of sections 1397C(d)(5) and 1400Z-2(d)(3)(A) of the Internal Revenue Code of 1986, the amendment applies to taxable years beginning after the date of the Act's enactment (Section 2(b)(3)).