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United States · Bill · HR

H.R. 5566 (107th)

American Community Renewal Act of 2002

openUnited States· United States Congress· EN

Introduced

7 October 2002

Last action

Status

Sponsor introductory remarks on measure. (CR E1777)

Sponsors

Subjects

Discovery layer

Source updated

19 August 2025

Summary

American Community Renewal Act of 2002 - Amends the Internal Revenue Code to: (1) provide for the designation of 20 additional renewal communities; (2) permit the nonrecognition of gain on proceeds of sales of real property which are invested in qualified renewal community zone assets; and (3) provide for the local allocation of commercial revitalization expenditure amounts if a State fails to adopt a qualified allocation plan.

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Documents

3 official files

Introduced in House (text)

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