United States · Bill · S
S. 198 (108th)
New Homestead Economic Opportunity Act
Introduced
21 January 2003
Last action
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Status
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1246-1249)
Sponsors
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Subjects
Discovery layer
Source updated
10 February 2026
Summary
New Homestead Economic Opportunity Act - Amends the Internal Revenue Code to permit a community homeownership tax credit based upon an applicable percentage of each qualified residence's eligible basis. Makes such credit available to residences located in a census tract with a median gross income not exceeding 80 percent of the greater area or statewide median gross income or in an area of chronic economic distress, and which is purchased by a "qualified buyer." Sets forth rules concerning, among other things, buyer eligibility and residence eligibility.
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Documents
3 official files
Introduced in Senate (text)
Introduced in Senate (text)
Introduced in Senate · EN · 21 January 2003
Introduced in Senate (PDF)
Introduced in Senate · EN · 21 January 2003
Introduced in Senate
summary · EN · 21 January 2003
Sponsors
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Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/108th-congress/senate-bill/198
- Open data entity: https://api.congress.gov/v3/bill/108/s/198