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New Homestead Economic Opportunity Act

Introduced: January 21, 2003 See on congress.gov
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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
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
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 Plain-English summary Congressional Research Service
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 January 21, 2003

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1246-1249)

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Republican 3
R
Murkowski, Lisa
Alaska · Nov 16, 2004
 R
Cornyn, John
Texas · Sep 29, 2003
 R
Graham, Lindsey
South Carolina · Jul 31, 2003
Cite this page click to expand
APA
U.S. Congress. (2026). S. 198: New Homestead Economic Opportunity Act. 108th Congress. Open America. https://openamerica.io/bill/108-S-198/
MLA
"S. 198: New Homestead Economic Opportunity Act." 108th Congress, 2026, Open America, https://openamerica.io/bill/108-S-198/.
Bluebook (legal)
S. 198, 108th Cong. (2026), https://openamerica.io/bill/108-S-198/.
Markdown link
[S. 198: New Homestead Economic Opportunity Act](https://openamerica.io/bill/108-S-198/)
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