Federal Empowerment Zone Designation Update
The IRS issued Notice 2013-38, Instructions for Renewing Federal Empowerment Zone (EZ) Designation. The Notice provides the procedure for a State or local government
to amend its nomination of an EZ to provide for a new termination date of 12/31/2013.
Any nomination for an EZ that was in effect on 12/31/2009, is deemed to be amended to provide for a new termination date of 12/31/2013, unless the State or local government sends a written notification to the IRS by 7/29/2013, affirmatively declining extension of EZ nomination through 12/31/2013. If the state or local governmen does not send a written notification, the nomination of the EZ will be deemed extended from 12/31/2009 through 12/31/2013.
IRS Notice 2013-38 will be in the Internal Revenue Bulletin (IRB) 2013-25, which will be published on 6/17/2013.