1. Short title This Act may be cited as the Creating Opportunities for Rural Economies Act or the CORE Act . 2. Additional new markets tax credit for distressed coal communities (a) In general Section 45D(f) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (4) Set aside of portion of limitation for distressed coal communities (A) In general For any calendar year after 2016, not less than 5 percent of the new markets tax credit limitation shall be allocated to qualified community development entities in connection with qualified investments the proceeds of which are substantially used to make qualified coal community investments. (B) Qualified coal community investment For purposes of this paragraph— (i) In general The term qualified coal community investment means— (I) any capital or equity investment in, or loan to, any qualified active distressed coal community business, (II) the purchase from another community development entity of any loan made by such entity which is a qualified coal community investment, (III) financial counseling and other services specified in regulations prescribed by the Secretary to businesses located in, and residents of, distressed coal communities, and (IV) any equity investment in, or loan to, any qualified community development entity in connection qualified investments the proceeds of which are substantially used to make qualified coal community investments. (ii) Qualified active distressed coal community business The term qualified active coal community business means any business which would be a qualified active low-income community business if paragraphs (2) and (3) of subsection (d) were applied by substituting distressed coal community for low-income community each place it appears. (iii) Distressed coal community (I) In general The term distressed coal community means any low-income community which is located in a county which— (aa) was one of the 30 counties with the biggest employment decrease among coal operators (as