3.0.0 602 2023-01-15T22:48:19Z 2023-01-15T22:48:19Z Senate S S 2003-03-12 108 ssfi00 Finance Committee Senate Standing Referred to 2003-03-12T19:36:56Z New Homestead Economic Opportunity Act 108 1686 HR 2003-07-21 Referred to the Subcommittee on 21st Century Competitiveness. Related bill CRS New Homestead Act of 2003 108 2194 HR 2003-06-20 Referred to the Subcommittee on 21st Century Competitiveness. Identical bill CRS 2003-03-13 Sponsor introductory remarks on measure. (CR S3664) IntroReferral B00100 9 Library of Congress 2003-03-12 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2003-03-12 Introduced in Senate IntroReferral 10000 9 Library of Congress D000432 Sen. Dorgan, Byron L. [D-ND] BYRON DORGAN D ND LESLIE N H001028 Sen. Hagel, Chuck [R-NE] CHUCK HAGEL R NE 2003-03-12 True J000177 Sen. Johnson, Tim [D-SD] TIM JOHNSON D SD 2003-03-12 True B000953 Sen. Brownback, Sam [R-KS] SAM BROWNBACK R KS 2003-03-12 True D000064 Sen. Daschle, Thomas A. [D-SD] THOMAS DASCHLE D SD ANDREW 2003-03-12 True B001126 Sen. Burns, Conrad R. [R-MT] CONRAD BURNS R MT R. 2003-03-12 True D000596 Sen. Dayton, Mark [D-MN] MARK DAYTON D MN 2003-03-12 True R000361 Sen. Rockefeller, John D., IV [D-WV] JAY ROCKEFELLER D WV 2003-03-12 True C000705 Sen. Conrad, Kent [D-ND] KENT CONRAD D ND 2003-03-12 True C001057 Sen. Coleman, Norm [R-MN] Norm Coleman R MN 2003-03-12 True D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. 2003-03-12 True L000550 Sen. Landrieu, Mary L. [D-LA] MARY LANDRIEU D LA 2003-03-12 True M001141 Sen. Miller, Zell [D-GA] ZELL MILLER D GA 2003-03-12 True B000780 Sen. Breaux, John B. [D-LA] JOHN BREAUX D LA BERLINGER 2003-07-09 False L000035 Sen. Lincoln, Blanche L. [D-AR] BLANCHE LINCOLN D AR LAMBERT 2003-07-09 False H000206 Sen. Harkin, Tom [D-IA] THOMAS HARKIN D IA RICHARD 2003-07-09 False P000590 Sen. Pryor, Mark L. [D-AR] Mark Pryor D AR Lunsford 2003-07-15 False Housing and Community Development Agricultural cooperatives Agricultural credit Agriculture and Food Bank accounts Capital gains tax Capital investments Catastrophic health insurance College costs Commerce Construction costs Consumer cooperatives Cost of living adjustments County politics and government Depreciation and amortization Earned income tax credit Economics and Public Finance Education Electrification Energy Entrepreneurs Excise tax Federal aid to education Federally-guaranteed loans Finance and Financial Sector Government Operations and Politics Government paperwork Health Higher education Home ownership Housing finance Income tax Indexing (Economic policy) Infrastructure Infrastructure (Economics) Internal migration Investment tax credit Job creation Labor and Employment Law Medical economics Minimum tax Nonprofit organizations Residence requirements Rural economic development Rural education Rural housing Saving and investment Savings and loan associations Scholarships Securities Small business Small towns Social Welfare Student loan funds Tax credits Tax deductions Tax exclusion Tax exemption Tax penalties Tax returns Tax-exempt organizations Trusts and trustees Urban affairs Venture capital Vocational and technical education Housing and Community Development 00 2003-03-12 Introduced in Senate 2006-11-28T17:35:40Z Amends the Internal Revenue Code to allow a tax credit for a specified portion of the purchase price of a qualified residence in such a rural county.

Allows a capital loss deduction with respect to sale or exchange of principal residence in certain rural areas.

Provides for the creation of tax-exempt individual homestead accounts, which shall receive matching Federal contributions according to a specified formula, whose tax-free distributions after five years are used for qualified higher education or medical expenses, first-time homebuyer or business capitalization costs, or rollovers.

Establishes a rural investment tax credit of 70 percent of the present value of new buildings (including rehabilitation projects) or 30 percent of the present value of existing buildings.

Establishes a qualified rural investment small business investment credit of 30 percent of qualified expenditures.

Provides for accelerated depreciation of property in rural investment projects.

New Homestead Venture Capital Fund Act - Amends the Consolidated Farm and Rural Development Act to provide for establishment of new homestead venture capital funds, owned by private investors, which shall generate and provide equity capital to rural businesses.]]>

New Homestead Act of 2003 Display Title New Homestead Act of 2003 Official Title as Introduced A bill to reward the hard work and risk of individuals who choose to live in and help preserve America's small, rural towns, and for other purposes. Introduced in Senate IS Short Titles as Introduced New Homestead Act of 2003 Introduced in Senate 2003-03-12T05:00:00Z 2003-03-13 Sponsor introductory remarks on measure. (CR S3664) 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.