3.0.0 1253 2019-11-15T21:52:45Z 2019-11-15T21:52:45Z Senate S S 2005-06-15 109 ssfi00 Finance Committee Senate Standing Referred to 2005-06-15T22:47:59Z Rural Renaissance Act 109 502 S 2005-03-03 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S2007-2009) Related bill CRS 2005-06-15 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6662-6664) IntroReferral 2005-06-15 Introduced in Senate IntroReferral 10000 9 Library of Congress C001057 Sen. Coleman, Norm [R-MN] Norm Coleman R MN N P000590 Sen. Pryor, Mark L. [D-AR] Mark Pryor D AR Lunsford 2005-06-15 True D000294 Sen. DeWine, Mike [R-OH] MICHAEL DEWINE R OH 2005-06-15 True G000359 Sen. Graham, Lindsey [R-SC] Lindsey Graham R SC 2005-06-15 True N000032 Sen. Nelson, Bill [D-FL] CLARENCE NELSON D FL WILLIAM 2005-06-15 True Taxation Affordable housing Alcohol as fuel Alternative energy sources Biomass energy Bonds Broadband Community facilities Diesel motor Distance education Economics and Public Finance Education Electric power distribution Elementary and secondary education Energy Energy facilities Environmental Protection Farm manure Finance and Financial Sector Health Housing and Community Development Income tax Refuse as fuel Rural economic development Rural health Rural housing Science, Technology, Communications Tax credits Telemedicine Telephone Waste water treatment Water Resources Development Water treatment plants Wind power Taxation 00 2005-06-15 Introduced in Senate 2005-08-02T21:32:34Z 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.

]]> Rural Renaissance Act II of 2005 Short Titles as Introduced Rural Renaissance Act II of 2005 Display Title Rural Renaissance Act II of 2005 Official Title as Introduced 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 in Senate 2005-06-15T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109s1253is/xml/BILLS-109s1253is.xml 2005-06-15 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6662-6664) 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.