S 198
108th Congress
Senate
Taxation
Commerce
Community development
Cost of living adjustments
Depressed areas
Economics and Public Finance
Finance and Financial Sector
Government Operations and Politics
Government paperwork
Home ownership
Housing and Community Development
Housing authorities
Income tax
Indexing (Economic policy)
Indian housing
Infrastructure
Liens
Low-income housing
Minorities
Rental housing
New Homestead Economic Opportunity Act
Introduced: January 21, 2003
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 21, 2003
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1246-1249)
Jan 21, 2003
Sponsor introductory remarks on measure. (CR S1246)
Jan 21, 2003
Introduced in Senate
Plain-English summary
New Homestead Economic Opportunity Act - Amends the Internal Revenue Code to permit a community homeownership tax credit based upon an applicable percentage of each qualified residence's eligible basis.
Makes such credit available to residences located in a census tract with a median gross income not exceeding 80 percent of the greater area or statewide median gross income or in an area of chronic economic distress, and which is purchased by a "qualified buyer." Sets forth rules concerning, among other things, buyer eligibility and residence eligibility.
What's happening now
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1246-1249)
Committees of jurisdiction
1