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S 1253 109th Congress Senate

Rural Renaissance Act II of 2005

Official title: A bill to amend the Internal Revenue Code of 1986 to allow a credit to holders of qualified bonds issued to finance certain rural development projects, and for other purposes.

Introduced: June 15, 2005 See on congress.gov
Taxation Affordable housingAlcohol as fuelAlternative energy sourcesBiomass energy
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BondsBroadbandCommunity facilitiesDiesel motorDistance educationEconomics and Public FinanceEducationElectric power distributionElementary and secondary educationEnergyEnergy facilitiesEnvironmental ProtectionFarm manureFinance and Financial SectorHealthHousing and Community DevelopmentIncome taxRefuse as fuelRural economic developmentRural healthRural housingScience, Technology, CommunicationsTax creditsTelemedicineTelephoneWaste water treatmentWater Resources DevelopmentWater treatment plantsWind power
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This bill died when the 109th Congress ended
It never became law before the 109th Congress (2005–2006) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 15, 2005
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6662-6664)
Jun 15, 2005
Introduced in Senate
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 Latest action June 15, 2005

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6662-6664)

 Plain-English summary Congressional Research Service

Rural Renaissance Act II of 2005 - Amends the Internal Revenue Code to allow holders of rural renaissance bonds a nonrefundable tax credit of 25 percent of the annual credit amount as determined by the Secretary of the Treasury. Defines "rural renaissance bond" as any bond issued by a nonprofit cooperative lender that is used for capital expenditures for qualified projects in rural areas, including projects for water or waste treatment, affordable housing, community facilities (e.g., hospitals, fire and police stations, nursing facilities, etc.), rural utility infrastructure, broadband technology, and rural teleworks.

Sets forth rules for maturity limitations, arbitrage, and expenditures, including a requirement that 95 percent of the proceeds from the sale of a bond issue be spent on qualified projects within five yeas from the date of a bond issuance.

 Related & companion bills 1
  • S 502 Related bill Rural Renaissance Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Graham, Lindsey
South Carolina · Jun 15, 2005
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1253: Rural Renaissance Act II of 2005. 109th Congress. Open America. https://openamerica.io/bill/109-S-1253/
MLA
"S. 1253: Rural Renaissance Act II of 2005." 109th Congress, 2026, Open America, https://openamerica.io/bill/109-S-1253/.
Bluebook (legal)
S. 1253, 109th Cong. (2026), https://openamerica.io/bill/109-S-1253/.
Markdown link
[S. 1253: Rural Renaissance Act II of 2005](https://openamerica.io/bill/109-S-1253/)
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