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United States · Law · HR

H.R. 1308 (108th)

Working Families Tax Relief Act of 2004

enactedUnited States· United States Congress· EN

Introduced

18 March 2003

Last action

Status

Became Public Law No: 108-311.

Sponsors

Subjects

Discovery layer

Source updated

7 April 2025

Summary

Tax Relief, Simplification, and Equity Act of 2003 - Revises Internal Revenue Code expatriation tax provisions. Subjects certain individuals, for a ten year period following citizenship relinquishment or residency termination, to the expatriation (alternative) tax provisions. Provides exceptions for dual citizens and minors. Suspends the tax-exempt status of a designated terrorist organization. Expresses the sense of Congress concerning corporate expatriation. Establishes a special rule for determining the exclusion of gain from the sale of a principal residence for members of the Foreign Service on qualified official extended duty. Provides tax relief for families of the Columbia Space Shuttle. Includes any vaccine against hepatitis A under the 75-cents-per-dose manufacturer's excise tax. Expands the 50-percent tax orphan drug tax credit for expenses related to human clinical testing of drugs for the treatment of certain rare diseases and conditions to include specified testing expenses. Treats as an exempt facility bond any qualified forest conservation bond (as defined). Revises the excise tax provisions on bows, arrows, and other archery equipment. Provides for the application of capital gain treatment to outright sales of timber whether or not the owner retains economic interest. Repeals the excise tax on fishing tackle boxes. Revises, with respect to real property, provisions concerning the treatment under the at-risk rules of publicly traded nonrecourse debt. Extends, with respect to involuntary conversion rules, the replacement period for livestock sold on account of weather related conditions. Coordinates farmers income averaging with the alternative minimum tax. Provides that the patronage dividends of cooperatives shall not be reduced by stock dividends to the extent the stock dividends are in addition to amounts otherwise payable.

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Documents

19 official files

Enrolled Bill (text)

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