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- H.R.5566
H.R.5566: American Community Renewal Act of 2002
About This Bill
- This bill was introduced in the 107th Congress
- This bill is primarily about taxation
- Introduced Oct. 7, 2002
- Latest Major Action Oct. 8, 2002
Bill Sponsor
Bill Cosponsors
5 (1 Democrat, 1 Independent, 4 Republicans)
Bill 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.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
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Referred to the House Committee on Ways and Means.
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Sponsor introductory remarks on measure.
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| Oct. 7, 2002 |
Introduced in the House by J.C. Watts (R-Okla.) |