TAX INCENTIVES FOR INVESTMENT IN THE DISTRICT OF COLUMBIA.

SEC. 310. TAX INCENTIVES FOR INVESTMENT IN THE DISTRICT OF COLUMBIA.(a) Designation of Zone.—Subsection (f) of section 1400 is amended by striking “December 31, 2003” both places it appears and inserting “December 31, 2005”.(b) Tax-Exempt Economic Development Bonds.—Subsection (b) of section 1400A is amended by striking “December 31, 2003” and inserting “December 31, 2005”.(c) Zero Percent Capital Gains Rate.—(1) In general.—Subsection (b) of section 1400B is amended by striking “January 1, 2004” each place it appears and inserting “January 1, 2006”.(2) Conforming amendments.—(A) Section 1400B(e)(2) is amended—(i) by striking “December 31, 2008” and inserting “December 31, 2010”, and(ii) by striking “2008” in the heading and inserting “2010”.(B) Section 1400B(g)(2) is amended by striking “December 31, 2008” and inserting “December 31, 2010”.(C) Section 1400F(d) is amended by striking “December 31, 2008” and inserting “December 31, 2010”.(d) First-Time Homebuyer Credit.—Subsection (i) of section 1400C is amended by striking “January 1, 2004” and inserting “January 1, 2006”.(e) Effective Dates.—(1) In general.—Except as provided in paragraph (2), the amendments made by this section shall take effect on January 1, 2004.(2) Tax-exempt economic development bonds.—The amendment made by subsection (b) shall apply to obligations issued after the date of the enactment of this Act.