Enhanced Enterprise Zones Act of 1995

TABLE OF CONTENTS: Title I: Federal Tax Incentives Title II: Regulatory Flexibility Title III: Low-Income School Choice Title IV: Resident Management and Homeownership Incentives Enhanced Enterprise Zones Act of 1995 - Title I: Federal Tax Incentives - Amends the Internal Revenue Code to exclude from gross income any qualified capital gain recognized on the sale or exchange of a qualified zone asset held for more than five years. Includes as requirements for qualifying as a zone asset that the asset be: (1) stock in an enterprise zone business; (2) business property used in an empowerment zone or enterprise community; or (3) a partnership interest in an enterprize zone business. Allows a taxpayer to elect to deduct the amount paid for the purchase of enterprise zone stock. (Sec. 102) Allows a credit for a portion of qualified rehabilitation expenditures for buildings meeting certain requirements, including being in an empowerment zone or enterprise community. Title II: Regulatory Flexibility - Amends Federal law relating to Government organization and employees to modify the definition of "small entity" (for purposes of provisions concerning the analysis of regulatory functions) with regard to enterprise zone businesses, governmental units that nominate areas as empowerment zones or enterprise communities, and certain not-for-profit enterprises operating in such zones or communities. (Sec. 202) Authorizes an agency to waive or modify rules as the rules pertain to activities in such zones or communities. Title III: Low-Income School Choice - Authorizes appropriations to carry out this title. (Sec. 303) Mandates grants to eligible entities (including States and State and local educational agencies) for certificates to low income parents for the costs of enrolling children in a school (including a private sectarian or public charter school) involved in a project assisted under this title and located in a zone served by that project. (Sec. 304) Requires each project to involve at least one local educational entity. (Sec. 306) Requires that the amount of a child's certificate be determined by the eligible entity and be an amount that provides the certificate recipient maximum choice. (Sec. 308) Requires the eligible entity to notify parents regarding the project. Title IV: Resident Management and Homeownership Incentives - Amends Federal law to authorize grants to nonprofit organizations for: (1) enterprise zone home ownership opportunity programs to promote home ownership in enterprise zones; and (2) the development of resident management corporations in enterprise zones. Authorizes appropriations.