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HR 380 108th Congress House Taxation Appropriations Department of the Interior Economics and Public Finance Federal-local relations Finance and Financial Sector Government Operations and Politics Government paperwork Government trust funds Interest Intergovernmental fiscal relations Land transfers Local finance Local taxation Payments in lieu of taxes Property tax Public Lands and Natural Resources Tax-exempt organizations

Property Tax Endowment Act of 2003

Introduced: January 27, 2003 See on congress.gov
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 Everywhere this bill has been 7 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 12, 2003
Executive Comment Requested from Interior, USDA.
Feb 12, 2003
Referred to the Subcommittee on Forests and Forest Health.
Feb 12, 2003
Referred to the Subcommittee on Fisheries Conservation, Wildlife and Oceans.
Feb 12, 2003
Referred to the Subcommittee on National Parks, Recreation and Public Lands.
Feb 5, 2003
Referred to the Subcommittee on Department Operations, Oversight, Nutrition and Forestry.
Jan 27, 2003
Referred to the Committee on Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jan 27, 2003
Introduced in House
 Plain-English summary Congressional Research Service
Property Tax Endowment Act of 2003 - Amends Federal law to fund the payment in lieu of taxes program for five years.

Permits a local government to receive a one-time payment to offset revenue loss from a Federal acquisition of land within its jurisdiction. Specifies that if a local government receives a one-time payment, the acquired land shall not be considered entitlement land, irrespective of changes in economic factors.

Applies this Act to land acquisitions completed after September 30, 1998. Specifies criteria for determining amounts of one-time payments.

Provides that in the case of land acquired before enactment of this Act, the head of the Federal land management agency shall deduct from the one-time payment the amount of any Federal sums paid to the local government since September 30, 1998.

Requires each one-time payment to go into a trust fund, the interest of which may be used for any governmental purpose. Forbids expenditure of the principal of such a fund.

What's happening now February 12, 2003

Executive Comment Requested from Interior, USDA.

 Committees of jurisdiction 6
 Cosponsors 1
All 1 Republican 1