To amend the Internal Revenue Code of 1986 to provide tax incentives to encourage diversity of ownership of telecommunications businesses, and for other purposes.

Summary

Amends the Internal Revenue Code to treat as an involuntary conversion, and to not recognize gain of up to $75 million, qualified communications sales. Limits such sales to, among other limitations, businesses owning a qualified interest in 20 or fewer broadcast stations and with specified asset limitations. Authorizes Small Business Administration loan guarantees for such sales.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 25 June 2003

   Introduced

   Introduced in House

   Source: IntroReferral

2. 25 June 2003

   Introduced

   Introduced in House

   Source: IntroReferral

3. 25 June 2003

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

4. 25 June 2003

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

5. 26 June 2003

   Introduced

   Sponsor introductory remarks on measure. (CR E1357)

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 25 June 2003 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 25 June 2003

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 25 June 2003

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 25 June 2003

  Open at official source

Sponsors

• Rep. Rangel, Charles B. [D-NY-19] · D · Sponsor
• Rep. Foley, Mark [R-FL-16] · R · Cosponsor
• · hssm00 · Standing
• · hswm00 · Standing

Related records

No cross-record relationships stored yet.