3.0.0 1264 2023-01-11T16:32:44Z 2023-01-11T16:32:44Z Senate S S 2007-05-02 110 ssfi00 Finance Committee Senate Standing Referred to 2007-05-02T17:22:55Z 2007-05-02 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2007-05-02 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 2007-05-02 True Taxation Bonds Economics and Public Finance Electric utilities Energy Environmental Protection Finance and Financial Sector Housing and Community Development Income tax Infrastructure Rural economic development Tax credits Waste water treatment Water Resources Development Water supply Water treatment plants Taxation 00 2007-05-02 Introduced in Senate 2007-10-12T17:26:30Z Amends the Internal Revenue Code to allow holders of rural renaissance bonds a tax credit of 25% of the annual credit amount for such bonds as determined by the Secretary of the Treasury. Defines "rural renaissance bond" as any bond issued by a rural renaissance bond lender, a cooperative electric company, or a governmental body that is used for capital expenditures for qualified projects in rural areas, including projects for water or waste treatment, distance learning or telemedicine programs, rural electric and telephone programs, and broadband access programs.

Sets forth rules for bond refinancing, maturity limitations, and allocations, including a requirement that 95% of the proceeds from the sale of a rural renaissance bond be spent on qualified projects within five years from the date of a bond issuance.

Terminates the authority for issuing rural renaissance bonds after 2008.

]]> A bill to amend the Internal Revenue Code of 1986 to provide a credit to holders of rural renaissance bonds. Display Title A bill to amend the Internal Revenue Code of 1986 to provide a credit to holders of rural renaissance bonds. Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to provide a credit to holders of rural renaissance bonds. Introduced in Senate IS Introduced in Senate 2007-05-02T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s1264is/xml/BILLS-110s1264is.xml 2007-05-02 Read twice and referred to the Committee on Finance. 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.