Skip to main content
HR 2044 108th Congress House Taxation Administrative procedure Auditing Broadband Cable television Capital gains tax Commerce Congress Congressional investigations Congressional reporting requirements Corporation taxes Department of the Treasury Direct broadcast satellites Enterprise zones Finance and Financial Sector Government Operations and Politics Income tax Investment tax credit Law Minorities

Telecommunications Ownership Diversification Act of 2003

Introduced: May 9, 2003 See on congress.gov
Sign in to write a letter Sign in to watch
This bill died when the 108th Congress ended
It never became law before the 108th Congress (2003–2004) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 9, 2003
Referred to the House Committee on Ways and Means.
May 9, 2003
Sponsor introductory remarks on measure. (CR E917)
May 9, 2003
Introduced in House
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Plain-English summary Congressional Research Service
Telecommunications Ownership Diversification Act of 2003 - Amends the Internal Revenue Code to allow an electing taxpayer to treat a qualified telecommunications business sale to an eligible purchaser as an involuntary conversion. Places limits on the ensuing tax benefit. Defines an eligible purchaser as: (1) an economically and socially disadvantaged business; or (2) a corporation or partnership which, following the purchase, has substantially all of its assets in the telecommunications business and is at least five percent owned by the Telecommunications Development Fund.

Provides a limited tax credit to a local exchange carrier that is not a Bell operating company and is headquartered in an empowerment zone.

Provides for the exclusion from income of 50 percent of the gain on any sale or exchange of stock in an eligible purchaser engaged in a telecommunications business held for more than five years.

Directs the Comptroller General to biennially audit the administration of the provisions of this Act and issue a report.

What's happening now May 9, 2003

Referred to the House Committee on Ways and Means.

 Related & companion bills 1
  • S 267 Identical bill Telecommunications Ownership Diversification Act of 2003
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Democratic 4
D
Davis, Danny K.
Illinois · May 9, 2003
 D
DeGette, Diana
Colorado · May 9, 2003
 D
Meeks, Gregory W.
New York · May 9, 2003
 D
Scott, Robert C. "Bobby"
Virginia · May 9, 2003
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2044: Telecommunications Ownership Diversification Act of 2003. 108th Congress. Open America. https://openamerica.io/bill/108-HR-2044/
MLA
"H.R. 2044: Telecommunications Ownership Diversification Act of 2003." 108th Congress, 2026, Open America, https://openamerica.io/bill/108-HR-2044/.
Bluebook (legal)
H.R. 2044, 108th Cong. (2026), https://openamerica.io/bill/108-HR-2044/.
Markdown link
[H.R. 2044: Telecommunications Ownership Diversification Act of 2003](https://openamerica.io/bill/108-HR-2044/)
Report a problem