S. 198 · 108th Congress
New Homestead Economic Opportunity Act
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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.
R
SmithSponsor11 cosponsors · 1 D, 10 R
D
Stabenow
JG
R
Gregg
JT
R
Talent
KH
R
Hutchison
LG
R
Graham
JB
R
Bunning
JC
R
Cornyn
TL
R
Lott
TC
R
Cochran
LM
R
Murkowski2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Introduced in Senate · Jan 21, 2003
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: New Homestead Economic Opportunity Act
Latest action (Jan 21, 2003): Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1246-1249)
Policy area: Taxation · Origin: Senate · Introduced: Jan 21, 2003
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.