3.0.0 267 2023-01-15T21:34:07Z 2023-01-15T21:34:07Z Senate S S 2003-01-30 108 ssfi00 Finance Committee Senate Standing Referred to 2003-01-30T23:40:57Z Telecommunications Ownership Diversification Act of 2003 108 2044 HR 2003-05-09 Referred to the House Committee on Ways and Means. Identical bill CRS 2003-01-30 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1829-1832) IntroReferral 2003-01-30 Sponsor introductory remarks on measure. (CR S1829) IntroReferral B00100 9 Library of Congress 2003-01-30 Introduced in Senate IntroReferral 10000 9 Library of Congress M000303 Sen. McCain, John [R-AZ] JOHN MCCAIN R AZ SIDNEY N L000550 Sen. Landrieu, Mary L. [D-LA] MARY LANDRIEU D LA 2003-02-13 False A000121 Sen. Allen, George [R-VA] GEORGE ALLEN R VA F. 2003-02-27 False B000780 Sen. Breaux, John B. [D-LA] JOHN BREAUX D LA BERLINGER 2003-03-03 False Taxation Administrative procedure Auditing Broadband Cable television Capital gains tax Commerce Congress Congressional investigations Congressional reporting requirements Corporation taxes Department of the Treasury Direct broadcast satellites Enterprise zones Finance and Financial Sector Government Operations and Politics Income tax Investment tax credit Law Minorities Minority business enterprises Partnerships Radio stations Science, Technology, Communications Small business Stocks Tax deferral Tax exclusion Telecommunication industry Telephone Television stations Urban affairs Wireless communication Taxation 00 2003-01-30 Introduced in Senate 2006-11-28T17:35:40Z Provides a limited tax credit to a local exchange carrier that is not a Bell operating company and is headquartered in an empowerment zone.

Provides for the exclusion from income of 50 percent of the gain on any sale or exchange of stock in an eligible purchaser engaged in a telecommunications business held for more than five years.

Directs the Comptroller General to biennially audit the administration of the provisions of this Act and issue a report.]]>

Telecommunications Ownership Diversification Act of 2003 Display Title Telecommunications Ownership Diversification Act of 2003 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to provide for a deferral of tax on gain from the sale of telecommunications businesses in specific circumstances or a tax credit and other incentives to promote diversity of ownership in telecommunications businesses. Introduced in Senate IS Short Titles as Introduced Telecommunications Ownership Diversification Act of 2003 Introduced in Senate 2003-01-30T05:00:00Z 2003-01-30 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1829-1832) text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.