H.R. 2604 · 108th Congress
To amend the Internal Revenue Code of 1986 to provide tax incentives to encourage diversity of ownership of…
Full title
To amend the Internal Revenue Code of 1986 to provide tax incentives to encourage diversity of ownership of telecommunications businesses, and for other purposes.
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
RangelSponsor1 cosponsor · 1 R
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to treat as an involuntary conversion, and to not recognize gain of up to $75 million, qualified communications sales. Limits such sales to, among other limitations, businesses owning a qualified interest in 20 or fewer broadcast stations and with specified asset limitations.
What it does: CRS summary · Introduced in House · Jun 25, 2003
Amends the Internal Revenue Code to treat as an involuntary conversion, and to not recognize gain of up to $75 million, qualified communications sales. Limits such sales to, among other limitations, businesses owning a qualified interest in 20 or fewer broadcast stations and with specified asset limitations.
Authorizes Small Business Administration loan guarantees for such sales.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to provide tax incentives to encourage diversity of ownership of telecommunications businesses, and for other purposes.
Latest action (Jun 26, 2003): Sponsor introductory remarks on measure. (CR E1357)
Policy area: Taxation · Origin: House · Introduced: Jun 25, 2003
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.